'Great value seems to be attached to the cooperation of England in any measure of this description. England has been forward in urging the policy of free trade upon Continental nations; and while her joining in any movement originated abroad for promoting and facilitating commercial intercourse would be most favourably received, and would increase her influence among them, her declining altogether to enter upon it might appear to be inconsistent with her general conduct upon such questions.'
'The recommendations of the Conference may be shortly stated to be:
'I. The adoption of a single gold standard.
'II. The adoption of 9/10 as the proportion of fine gold in the coins.
'III. That all gold coins hereafter struck in any of the countries which are parties to the Convention, should be either of the value of five francs or multiples of that sum.
'IV. That a gold coin of the value of twenty-five francs should be struck by such countries as prefer it, and be admitted as an international coin.
'In other countries steps have been taken with a view to promote a general international coinage.
'A Bill has been introduced into the Congress of the United States for altering the value of the American coinage, so as to assimilate it to that of the Convention of 1865; and we have received the report of the Finance Committee of the Senate of the United States, recommending the adoption of the measure, with certain amendments; together with a report also presented to the Senate, adverse to the passing of the Bill.