Faeelin
April 5th, 2006, 09:55 AM
Surprising as it seems in hindsight, in 1865 it seemed to many as if most of Europe (and even America, oddly) would join the monetary union between Belgium, Italy, Switzerland, and France.
It made a certain amount of sense at the time; Italy's currency had been unified; and the German currencies were being unified. And the gold franc was already the most commonly circulated gold in Europe.
And there was a political overtone to it as well. Austria considered a monetary union with France in 1867; even the North German Confederation considered it.
But in 1870 the French senate voted against adopting the gold standard, and without French support, the idea died; and then, of course, we had the Franco-Prussian War.
But a more successful Napoleon III, perhaps one who had turned the tide in the Austrian-Prussian War, might have been more emphatic, in his support of it.
Hmm. Thoughts?
It made a certain amount of sense at the time; Italy's currency had been unified; and the German currencies were being unified. And the gold franc was already the most commonly circulated gold in Europe.
And there was a political overtone to it as well. Austria considered a monetary union with France in 1867; even the North German Confederation considered it.
But in 1870 the French senate voted against adopting the gold standard, and without French support, the idea died; and then, of course, we had the Franco-Prussian War.
But a more successful Napoleon III, perhaps one who had turned the tide in the Austrian-Prussian War, might have been more emphatic, in his support of it.
Hmm. Thoughts?