, 1873-01-24
INTERNATIONAL COINAGE OF snvER.

lowed to occur.
INTERNATIONAL COINAGE OF BnVER.
The measure which is now pending in Con-
crees TO secure an international coinage OF all
ver. for the immediate use Of nations in America
and Europe, and for the eventual use OF the
civilized world, is one Of moro than ordinary
interest. The matter VAS first brought before
the public in practical form BY the Ne" 1or3
Chamber cof Commerce, and subsequently by
the National Board Of Trade, at it's meeting last
October, At the latter meeting, resolutions
yero submitted by Hon. s. B. nuggles, delegate
OF tho United States to tho International None
tary Conference at Paris, in 1867, and unani-
moualy adopted, petitioning Congress to amend
that portion of the bill for the general revision
Of the coinage Of the United States, which pro-
poses to reduce the existing weight Of the silver
dollar (41215 grains) to ss4 grains, by
adding one grain and eight-tenths Of
grain to the proposed weight,
which would unity the silver dollar with tho
ave-franc silver coin OF France, Of Belgium, and
u AAc AFt.41Ao %OAAA Va Att~@y ~~A@
dye-peseta coin Of Spain; the fve~drachma coin
OF Greece; and also make it just double the
weight Of the new Austrian silver form. In
December last, the Finance Committee Of the
Senate, by its Chairman, Mr. John Sherman, re-
ported amendments virtually adopting the prop
osition Of the National Board Of Trade, by max
inr the weight Of the hnlf-dollar 12111 met
rical erammes, which is half the weight OF the
European hve-frano coin.
No action Was taken by the National Board
towards unifying the United statos gold coin to
any standard, owing to the statement Of Alr'
Ruggles that It WAS utterly Impossible,
several Of the Continental nations ha7-
ing recently made the gold coinages
still moro confused than they have
ever boon before. In 1869, the German States
agreed to make tho fl7e-franc gold coin the none
t,rv gold INIT. but the Franco German war pre-
vented it, Tho immense amount Of French gold
coin transferred to Germany led to the estab-
lishment Of new German unit Of twenty
marks, or 47G.4 American conts, and tho French
coin vas recoined TO suit this standard At the
recent Monetary Convention Of the scandina-
Vans, they adopted as their principal gold coin
crown, equivalent to only 27o American cents'
and then assimiated 1t to the coinage OF Cor
many by making eight Of these CROWDS equiEa-
lent to nine marks. At present, the value OF
the half-easle Of tho United States is 500 conts;
Of the British sovereign, 486 cents; OF the
twenty-five francs OF France, 482 cents.
In the midst Of such confusion as this, con-
stantly increasing, all hope OF unif5ing the gold
coinage to common standard Tes abandoned,
and it WIS resolved, therefore, by the Board to
conAne its efforts to the uni6cation Of silver
only. There Is every reason why Congress
should take immediate action upon this MEAS
ure. In business point of view, It will greatly
facilitate commercial intercourse throughout the
world. From an economical standard, it would
ssyo an immense amount Of money now spent
upon recoinage. As matter OF patriotism, every
American would be prouder to have the countrya
coinage circulate without any change aide BY
side With the European coins, than to have it go
through the crucible and come ont stamped
with foreign arms and emblcms. Viewed from
these points, and from all others, indeed, the
measure ia very important one, aud its
adoption would greatly conduce, not only to tho
extension Of commercial intercourse, but also
of social intercourse among the nations, and
there can be but little doubt that the unifcation
OF silver to common standard would ultimate
ly tend to the unifcation Of gold also.