The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-11-19

practical expedients. Nothing durable could
be created by the latter and only fresh diff
culties for the future. common system of
coinage can be reached only on q primary
unalterable basis; if resting on a unit Of or
10 grammes il would possess the immeasura-
BILE advantage that all nations could adopt it
without exciting national sensibilities True,
it would require the discontinuance of exist
ing coins, but a rational, definite system
would be created, which would stand un-
changeable" The representative of Belgium
added to this, that in his opinion, no true 8,
10, or 20 francs existed, since they were not
amenable to metric weight. But the confe-
renee did not enter on this proposition, and
Belgium, too small to introduce q new coin
age, and not able to prevent the influx of
French gold, yielded; STILL after the expira-
ton of the treaty with France, it would be in
clined to join in rational system of coins if
such exists.
M. Chevalier expresses himself in a SINH
lar manner; his authority in matters of coin
age is so great in France and elsewhere that
his opinion deserves place. In letter to
the J0lnndI deS Debdts of June 2G, 1867, he
gives an elaborate history of the gold franc,
and concludes thus:-'We have a right to ask
whether the 20-franc piece possesses those
qualities which render it worthy of adoption
by other nations. The metrical system is at
present in general favor, and will finally dis
place all others; but the very misfortune in
our gold is to be without the pale of metric
weight The 20-franc piece weighs 6 645161....
grammes plus decimal fraction, and is as
''baroque" as the sovereign, the dollar, or
any other coin. The English have just as
much right to propose the sovereign as an
international coin, or the Spaniards their
doubloon. In honor of the metric system we
should bring a sacrifice to other nations by
giving up our present coinage. That would
be preaching by example, and no predication
could be more effective. NJ E. de Parien,
Vice-President of the State Council, shares
this opinion. See Journal deS EcOR0natsteS,
June 1867.
From all this it appears that in the eyes of
those who know the French system of coins
is not faultless, and before adopting the same
it is well worth while to inquire whether or
not new national plan can satisfy all Just
demands. The so-called ''Latin Coinage
Union" is a considerable fact: the idea of
travelling through seven States, with eighty
six millions of inhabitants, without calling at
exchange offices, is very pleasant. Still, the
United states should we'll prove the plan pro-
posed by MIR. Kelley, and if convinced of its
entire practicability, take the lead in the re-
form at an early day, even if, for time, a
Saxon Coinage Union" should stand side by
side with the Latin.
In saying this, it is proper to ask whether
attain this desirable object The sovereign
has many advantages over the Napoleon d'or
BY its finer composition (11-12 against 9-10)
it resists much better the effect of circula-
ton. The gold, in fluid state, separates
from the copper much easier in mixture of
to l, than in that of II to 1, and an exact
standard is better preserved. The expense of
coming is less, because less copper is used.
With an equal value it weighs about 3 per
cent. less, and is thus of easier transporta-
ton. Finally, Great Britain maintains its
standard.
AS early as 1868 the Troy pound of standard
gold was coined into 449 guineas; since 1916
it makes GAG las. Cd sterling; 40 Troy pounds
thus give 1880 guineas or 1869 sovereigns,
and 81 sovereigns are exactly equal to 20
guineas. AS the sovereign has 20 and the
| guinea 81 shillings, this is only an inverted
manner of counting. England at the proper
| time has undergone great sacrifices to main-
| tain its standard. Before the time of William
| III all silver coins in circulation had gradu-
ally sunk to one-half their original value.
| When new coins of full weight were coined
possible-either to reduce the standard
one-half, or to take in all lighter
coins at the expense of the State. Thanks
| to the efforts of Newton, Locke, Flamsteed,
and Montague, the latter view prevailed in
Parliament, which resolved, in 1896, with 225
| against 144 votes, to re-establish the standard
of Elizabeth's reign. At time when other
nations of Europe had most barbarous
money, England spent e2, 700, 900 sterling to
redeem base coins. A second example was
given to the civilized world in 1916, when the
forced currency of bank notes was to be
ended. Instead of coming the sovereign, as
was proposed, of equal value with the de-
based paper currency, its full weight was re-
stored, and all loans made in the latter, which
had fallen 20 per cent, were redeemed In
sovereigns of full value. Such history natu.
rally makes England proud of the sovereign.
France, in 1876, adopted the existing value
of the livre tournois as unit OF money, and 6
decree of 1910 prescribed that all coins below
the legal value should be drawn in by the
treasury. The habit of the French to ascribt
higher value to coin is so deeply rooted thai
article 1895 of the Code Napoleon foresees
the possibility of such measure.
In civilized States the law tends to the pre-
servation of the standard of coinage. Ii
England every sovereign which by use has
fallen from 1913 grains to 1921, or lost 0'0OGS
parts, when paid into public bank, is cut il
two and returned to the person who delivered
the same In practice this is done by tn,
Bank of England and its branches Afte
ascertaining the value of the amount BY
weighing the total, each sovereign is testeC
on a specially constructed SCALE and if founC
too light it goes to the mint. From the pub
lie it is received only at the real value O
f3 It's. Cd. per pound Troy
In Germany also the laws for preserving
} the standard are very strict. Every State, b,
J treaty of January "a, 1867, is obliged to sent
to the mint all coins that have lost per cent
in one thaler pieces and II per cent in TIVE