The History of Currency, 1252 to 1896

by William Arthur Shaw

1. The pound of 500 grammes decimally subdivided, to be used as the basis of the coinage.

2. The competing systems to be assimilated to this basis by the following regulation:—

The thaler (or Prussian) standard of 30 thalers to the pound of silver to take the place of the 14-thaler standard, and to prevail in Prussia, Saxony, Hanover, Hesse, and a string of minor states.

The Austrian standard to be on the basis of 45 guldens out of a pound of fine silver, and to prevail in the Empire of Austria and the principality of Lichtenstein.

The South German standard to be on the basis of 52 1⁄2-gulden to the pound of silver (instead of the 24 1⁄2-florin standard formerly used), and to prevail in Bavaria, Würtemburg, Baden, Hesse, Frankfurt, and a few other places of South Germany.

The equivalence of the systems was to be—

One-thaler convention piece ( 1⁄30 pound) = 1 1⁄2 florins in Austrian currency = 1 3⁄4 florin in South German currency.

All the coins to be of unlimited validity in all the states, divisional coinage to be of a lighter standard than the coinage standard of the country, but lighter only within limits fixed. The tender of these latter to be limited to 20-thaler or 40-gulden.

THE VIENNA CONFERENCE, 1857