UNIFORM MONETARY SYSTEM.

Wellington Independent, Volume XXII, Issue 2667, 14 April 1868, Page 5

UNIFORM MONETARY SYSTEM.

An International Monetary Conference was held last summer at Paris at which the United States were represented, tho object of which was to assimilate tho coinage of different commercial nations. For some lime past, France, Belgium, Italy, and Switzerland have had a unit of circulation — the franc. Latterly treaties have been entered into by which the gold coinage of each of- the four countries named pass current, being in fact a legal tender in all transactions. The conference held last summer at Paris was for the purpose of inducing other nations to enter into a similar arrangement. It is now believed that Austria and Prussia are quite ready to join in establishing the franc as a unit of value; hence, with the addition of the United States and England, the circle weuld be nearly complete. The United States in the draft of a loan bill,

making x portion of our public indebtedness payablo in Europe, propose in payment of intent and principal to give five francs for a iollar. This would seem to indicate that the United states _ authorities have in viev the ultimate adoption of the monetary arrangement which obtains such favor in Europe. For the United States and Great Jritain to establish the same unit, would require but a .small alteration in the coinage of each country. The dollar would have to be slightly reduced in value as well as the English sovereign. It seems that a coin has been actually struck by the French Go vernment, and sent to the United States through Mr Buggies, our delegate to the Iternational Convention, bearing the value required. The coin represents twenty-five francs or five dollars. A Washington paper says the new coin is twenty-four millimetres in diameter, very slightly exceeding that of the half eagle of the United States, and the sovereign of Great Britain. It bears on it obverse the conjoint inscription, " Five Dollars — Twenty-five Francs," and is a type of the proposed monetary union of the three nations. If adopted by the Government of Great Britain and the United States, this international coin bearing the denominations and emblems of the respective nations, will circulate side by side in perfect equality, and without impediment throughout the world.