The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-07
NEW YORK HERALD, MONDAY, SEPTEMBER 7, 1863

and they urged that the government should without
Post Once, in the de- ckyards and in the customs.
Abroad the metric system was making constant
progress D1rips this year it was adopted 10 Nor,n
the same coarse with reference TO the measurement
OF tonnay the committee had learned tnat inc ona
cehor of the North German Confederation, navlng
moved the Federal Council that the presiding rowet
s.ould be authorized to open negotiatons
P1wa and s"ps seq ned states Of America for
establishing an international SYST VI pup S,
ment the basis Of the English system tae a
upon the metrical principle instead OF the English
tonnage. In Spain the metric system OF weights anu
measures had been rendered compulsory from July
4 iS8s. and the last meeting OF the international
Statistical Congress held at Florence unanimously
system Of weights and measures founded on the
metric decimal system AS many as thirteen countries
Including sie span Poruga Greece
chile Brazil, New Grenada and other South Ameri-
can republics, with an aggregate population OF up
decimal system founded on the metre. Seven more
countries with aggregate population of 90, 100000,
had also adopted parts OF the same while this cOun
try and the United States, having together 60
had introduced the same In permissive manner.
In India the government OF the Bengal presidency
recommended the adoption OF the metric system as
the best means OF introducing simplicity and unity in
the weights and measures Of that vast empire AS
garded international coinage the committee has al
ready reported the result oil the two conferences held
in Paris in June 1867. report OF the Official confer
ment, royal commission was issued to consider and
report upon the recommendations OF the conference
and their adaptability TO the circumstances OF the
United Kingdom, and whether IL would be desirable
to make any and what changes In the coinage Of the
United Kingdom, in order to establish, either wholly
or partially such uniformity as the Conference had
in contemplation. The commissioners had completed
their labOrs and presented their report to Parliament
but the same had not yet been published. A report
of the Unolcia International Conference on weights
measures ana coins had also been communicated by
Professor Leone Levi to Lord Stanley and laid
hQf Ara 10 O h
was presented to the United States Congress
for placing the coinage in direct relation to
three and half per cent SO that 1t might be worth
25f The bill was read a second time, and a clause
ference to holders of the existing coinage and Of
obligations in the existing currency; but the bill
stood over for consideration, probably till the report
| of the Royal Commission was made known. Canada
had introduced bill to the same effect. Spain had
| engaged to coin gold pieces OF 10f and 25f The
German Parliament had passed resolution in favor
in the same direction had also been made in Austria
the event Of an international coinage being agreed
| upon, 1t would be highly important to secure the
publication Of such Information periodically and for
| all countries; and they would recommend the same
to the earnest attention OF the Board of Trade. In
conclusion, the committee expressed their opinion
| that the great object at which they aimed was
| steadily advancing.
Professor Leone Levi read paper on the "Present
State OF the Questions of International Coinage"
Having shown the practical character OF the ques-
ton at ISSUE and the importance attached to 1t by
the
Congresses the Chambers OF Commerce, the Society
Of Arts and other public bodies, the professor ex-
amined the respective advantages OF either adopting
new unit altogether for all nations or one OF the
existing units by all OF them, or correlation of all
the different units. The first plan, Of adopting a
piece OF five or ten grains of gold as new unit,
would be impossible, because it would require gen.
eral recOinage Of all nations. The second plan, that
OF choosing one from the existing units was better
persons among whom the same unit was
already in circulation the amount OF trade regu-
lat. nv ntnlf fhn nf nf fhn
same already issued and the relative convenience Of
the different systems. As regarded population, the
franc by France, italy, Belgium, switzerland, hav
ing 10000 900; the dollar by the United States hav
ing e hays
and the r0uble by European Russia, having So 600 000
The franc, therefore, prevailed among the largest
imports and exports of England amounted to nearly
$500 100000, those of France, Italy, Belgium and
of the United States to .105Oo0,OOO. England
here had pre-emnence, although not so
decided one as some might imagine. A.
up to 1850 the issue OF gold coin in England
far exceeded that OF France and the United
States, it had not been 80 since that time. From
1893 France issued f262 600 Of gold coin
the United Kingdom, from 1915 to 1866, OOO
Since 1850 France had issued El97, 900 OF gold
coinage the United Kingdom 60, 900, 900 and the
tive convenience of the different systems, il
was a fact that while this country had been for
years abOrlng 10 introduce decimal coinage France
anu the United States long possessed 1t, while,
moreover, for international purposes the pound
was too large unit In three, therefore, out of
the four elements France had the advantage, and
that justified the Congress to take the French coin
the basis But the Congress did not recommend the
franc as unit for all natons nor did 1t recommend
the pound As a step in advance 1t recommended "a
mode for harnOnzing the different systems III exist
ence, according TO which we should alter the pound
TO rs francs instead Of rs francs 20 centmes 1t
was now intrinsically worth Could this be doney
Should this compromise he accepted The evil was
that II would cause great change in all the none
tary system; it would require us to lower though in
an inhnitesimal manner, the gold standard, and vet
leave all the existing units In existence. Ac-
counts would still be kept in different ways; the d
visiona coins would In nOwse agree, and we should
not get good decimal coinage. The professor
thought thai the ten franc piece In gold Of the value
OF one hundred pence slightly diminished In their
present relative vaue), with q unit OF one hundred
francs ca for larger financial operations, the
unit for all nations Such a unit, divided into ten
silver pieces of ten pence each, would give also an
excellent decimal coinage, producing immense ia
ciy In education and great ease In calculation.
Then should have unit identicaly alike every
where, instead OF the hundred units In existence;
and the identity would be obtained not only in the
gold unit but in It's subordinate coins OF silver and
copper. Allowing that the International Monetary
Congress had immensely advanced the question, the
mission would recommend the holding OF another
conference for the purpose Of considering the possi
bility or agreeing common system Of coinage.
instead of the proposed adaptation OF many systems
Sir J. B0wring argued for the decentralization OF
the sovereign because II represented all the CON-
merce OF the world, and had gone forth with all the
power OF English enterprise and reputation.
After some discussion, In which Mr.. Fellows Mr.
r. Daw6arn, Dr. FAR; Mr.. Botley and other gentle
men took part, the following resolution was unani-
mously adopted, on motion OF DIR. Farr:-"The sec
ton adopts the report Of the committee, accepts the
money win be made by the association 10 enable II
practically TO carry out its obects.-
FRANCE.