| Show THE LATIN UNION A washington dispatch in last event evenings gig NEWS hinted at a blow impending against silver more severe than the closing of the mints in india to the coinage of the white metal this blow being the dissolution of the latin union it way may not be generally known what the latin union la Is and those who claim to understand even among its significance and purpose there is much popular misconception although in a general way its in maintaining bime bimetallic tallie coinage over a wide area of the old world is in recognized and comprehended ended but its importance in accomplishing this effect Is merely incidental it does not warrant the belief that the maintenance of silver was the primary purpose of the union the fact is the primary purpose was to secure uniformity I 1 in coinage and currency values of both gold and liver gilver as one writer puts it identity in monetary units of reckoning the history of the union is neither lengthy nor intricate it was formed in 1865 by agreement between france italy belgium and switzerland greece came in in 1867 and spain in 1868 and roumania Bou mania bervin and finland have since made themselves in effect members of the union anion by accepting its coinage system As stated the purpose of the union was to secure and eay easy convertibility in the coinage and currency of the several countries concerned their coins varied slightly in weight and value the differences were annoying and perplex perplexing inz they also involved loss lose in exchange the union was formed to correct this by agreement slight alight changes were made so that the coins of all the countries concerned were made to conform to a single standard that of the french franc of which they are all now multiples or factors so that even if the agreement should be terminated the final effect though it might be a little embarrassing could scarcely be as disastrous as 98 the dispatch referred to would seem to anticipate |
