The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-02-20
International COirage-A New Plan.
N-Oan the ". y. Times.

International COiBage-A New Plan.
From the ". y. times.
Those Of our readers who may have read
the reprint in our columns of the various
Official documents, in respect 10 international
coinage, including the report 10 the Depart
ment Of State by Mr.. s. b. RugZles, the dele
gate from the United States to the "Intez-
national Monetary Conference" at Paris in
1867 are doubtless aware OF the following
leading facts.
The totals ofth gold eoinages mp TO 1868 OF
the three principal coming nations Of the
world, were as follows:-
......'"''Sl Sl3 229 8a
eur bIlJsin goo3tl tW
O93, ,098 $50
or the $S45, ,536, sol thus coined by the
United States, there has remained in circula-
tiOn not more than $500, 10000 Owing 10
its needless and ill-considered weight, which
exceeds by nearly $40 per cent. that of the
coin of France, and by 6 10 that of the Bri-
tish coin, it cannot now be passed in Europe
for its true value, but is necessarily reooned
m large amounts both in France and England.
TO borrow the words Of Mr.. Ruggles, ''the
American eagle crosses the Atlantic only 70
descend into the melting pots of Paris and
London"
These facts were duly exhibited at the Paris
Conference, strengthened by the circumstance
that all the burden of this recOinage, aud Of
any discount or brokerage in Europe in chang
ing our coin into foreign gold, practically fell
upon the people of the United States, 80
owners and exporters of the coin. Il became
entirely evident that the evil could only be
remedied by reducing the weight of our coin
to that of the coin either of France or Of
England. After full discussion, and in view
OF the fact that the gold coin of France was
largely circulated among the continental
nations, where it might circulate, side by
side, with the coin OF the United States, ana
that the amount coined by France much ex-
ceeded that of any other nation, it was
thought to be not only Just, bat
most conducive to the common welfare Of the
nineteen nations represented in the Confer
ence embracing population of 800 900, 600
to adopt the French weight as the basis OF q
common international coin. There was 40
attempt or wish whatever TO "Frenchify" the
common coin, but every nation was left fully
at liberty to use its own monetary denomina-
tons and emblems; the United States reteiu-
ing the "dollar" and the 'esgle," with It's
multiples and subdivisions, aud Great Britsiu
its Sovereign or pound
Since the adjournment of the Conference
this monetary plan has been faVOrably ys-
ceived and formally agreed to by several Of
the Continental nations. The nations who
had already carried it into effect were France,
Belgium, Italy, Switzerland, Greece, and th8
Pontifical States, having al aggregate pcpu-
lation of seventy-two millions The addition
since that time of Austria, Spain, Sweden, and
Roumania will unite at least one hundred end
thirty millions of the people of Europe in
monetary concord. In October last at q for
NAL meeting of the representatives of tbs
Chambers Of Commerce of sll the important
cities in Germany, it was decided by nearly
unanimous vote to recommend its adoption by
the Government iof the new "Zollvereip,"
..,1-r l,,,Sn
federate States, with population exceeding
thirty eight millions.
It seems that under q Monetary Convention
in 1857, no longer in force, a new gold oOia,
called the "ConVentions CROWN" was Issued,
containing in pure gold ten even rnetriO&l
grdnln'eS, equal in value to nearly six dollars
Of the existing coin OF the United States. Il
is in view of the exact conformity of this pay
sicular cein to the metric system, that pro
position has been formally submitted 10
Congress for adopting 1t as the basis Of tho
proposed international ooinage-s measure
which would render it necessary TO call in end
recoin the whole volume of gold in crcuis-
ton in Western Europe, now amounting TO at
least eighteen hundred millions of dollars,
while the whole amount of these German
s'crowns" now in circulation does not prcbs-
bly, exceed two hundred millions.
This German plan, which proposes to undo
all the work of the Paris Conference, is now
ufBed on congress IN an elaborate report
from Mr.. y. B. Elliott, transmitted on the
9Th of February, instant to the House Of
Representatives at Washington by the Secrs-
tary of the Treasury. We do not learn, nor
can we believe, that the plan has received his
distinct approval. The House has ordered it
20 be printed, with numerous accompanying
tables. Until we can more fully learn its
contents, we shall defer any remarks on its
merits.
Meanwhile the time of Congress must be
too much occupied by the interesting measures
aud movements naturally attending the Gloss
Of this present administration, to give to this
more abstract subject of international coinas IS
the careful attention which it deserves. In
the order of Providence, it may be left to Pre-
sidsnt Grant and new Congress to see that
the American Union does its proper share Oi
duty in advancing this great fraternal measure
of international reform-a work peculiarly ap-
propriate to that era OF 'ipeacs" which The
Incoming head Of the Government has so en-
phatioaly aud solemnly invoked.
General Buffers Speecl on Tie Army