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Britain's single currency debate of the late 1860s
University of Exeter
European Journal of the History of Economic Thought
Though a Royal Commission had rejected Britain joining the Latin Monetary Union, Robert Lowe, the Chancellor of the Exchequer, said he would recommend membership provided three conditions were satisfied. As these included a general adherence to the gold standard, nothing further came of it. But meanwhile there had been a complex public discussion of the subject, and the related topic of shrinking the pound coin so it weighed the same as the 25-franc piece. The debate shed much light on the contemporary state of value and monetary theory, and those who supported the changes had the best of it.
Author's draft issued as a discussion paper in 2005. “This is an Author's Original Manuscript of an article submitted for consideration in the European Journal of the History of Economic Thought [copyright Taylor & Francis]; European Journal of the History of Economic Thought is available online at http://www.tandfonline.com/ 10.1080/09672560601025811."
European Journal of the History of Economic Thought, Dec 2006, Vol. 13 Issue 4, p 513-531