1. LATIN MONETARY UNION.
- Subjects
MONETARY unions ,FRANC (French currency) ,PAPER money - Abstract
Information on the Latin Monetary Union is presented. In 1865, to achieve monetary union without political union, France, Belgium, Italy and Switzerland decided to use the French franc as their common unit of account, while nominally retaining their own national metal currencies of gold and silver coins. The system faced pressure when Italy printed paper money. The Union collapsed 20 years after its inception when Germany centralized control of paper money.
- Published
- 2004