The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1868-01-17
u,,rorm Metallic Currency.


In the REPUBLICAN OF October I'd, 1867, we pub
lished the following with the intention Of repro
ducing II at the time OF the meeting OF Congress-
1t Is not now too late to call the attention or
the meubers to this subject, and therefore we
republish the letter Of NJ. Michel Chevalier, with
the additional comments thereon
an. Michel Chevslier, in a letter to the Jour.
now submitted to an International Commission
at Paris, and he docs so with the superiority Of
ousiitr"eleasness, which distinguishes all he
writes. lie admits that, though there Is much
to be said in favor Of the French one-irane piece
being adopted gold having he says, obtained
the preference OF the grestest number Of States;
On M pons they viii have gold pieces, nothing
but gold silver, with thcm, Is only employed
to make up sums and silver pieces are Of nomi-
cans appear to be not less determined In favor OF
gold pieces; and Portugal has the same senti-
"Having said this, he shows briefly the objec-
lions, scientific and practical, to maintaining
both silver and gold standards, inasmuch as II is
valae s Of The two metals. Then he examined The
proposition which has been made to reduce
the S' ,Ss q The Coy
in order to make them equal to 25fr. French, and
TO coin 25fr gold pieces In France; But he doubts
ure. They are rigorous, says he, on the chap.
ter OF money. They shrink from no sacrifice to
maintain their money perfectly intact; they make
Besides, he doubts that the French gold coin,
which Is now OF 2ofr,, with subdivisions OF lofr
on the adoption Of other nations
TEN Is now in favor everywhere. But unfortu-
OF the metricsl system. In respect TO this sys
TEN, q piece like that Of 2ofr., which weighs
sSsara a. the pound sferins the soS dollar the
eagle, or hslf-eagle, the doubloon, the German
crown, and any other gold piece which eireulates
ing for Universal unity the pound sterling, the
| Americans the dollar, or the Spaniards the doub-
Loom Fs S9 are in the IT
The great economist therefore advises that from
respect for tie mefrtedI sysiem, The French shouid
' HE observes ' tSst BY so doing they would
prove the reality Of their faith IN that system,
sith without works being re- deSd Mexs,she se,
Poaad :aHas ts:H Tnsa h. fs
OF Of ten forms, on level with French gold coin
| of twenty-five francs, 1t would be progress com
pared with the existing state OF things we,
however, he adds, should feel regret at the re-
/ form not being made more complete and more
rational-at stopping half way when II was pos;
he remarks in conclusion, like progress so much
| that they may confidently be called on to make
an effort when an important and deanitive
amelioration has to be efected.'"-Pdrs Cor.
| London EcoHomid. 49,
From the above II appears that leading politi-
| cal economists OF France earnestly aVersc to
| the Recommendation of the International com
| mittee of the Paris Exposition In favor OF the
| substitution OF the weight OF the French I'VE
franc piece OF gold for that Of the United States
gold dollar. Their opposition is based on the
unit.
II will be rccollccted by our readers that at
the late session Of the American Association
| for the Advancement of Science, at Burlington,
VT, 1t was unanimously voted-in view OF the
| fact that the existing monetary unit OF the
| United States (the gold dollar bears simpler
relative to the metrcal unit Of weight 1.-THE gram)
than does the gold monetary unit Of any, other
| country-that the tceigh and .fneness Of The gold
coinage of the United States should not be altered
unless alter very cautious consideration. The
| gold three-dollar piece Of the United States
| weighs almost precisely Ave grams, nearly iden:
| teal with the weight Of an ordinary nickel
| piece OF Ave cents, and with that of the French
iiiper franc; and other gold coins Of the United
States are In proportion. The distinguished
| economist, whose views are quoted above, does
| not appear to be aware of the very simple rela-
| ton which the gold currency Of the United
States bears to the metrical unit OF weight. The
weight of the gold franc OF France Is the awk-
| ward fraction 1881 Of u gram. With the best
| scientific opinions Of both hemispheres against
| the proposed change, 1t Is hardly possible that
the proposition will be favorably received by
| COnrress.