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Latin Monetary Union
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Latin Monetary Union

international organization
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Quick Summary

The Latin Monetary Union was an agreement formed in 1865 by France, Belgium, Italy, and Switzerland. Its goal was to establish a bimetallic monetary system on an international scale, defining a common mint ratio between gold and silver and allowing for the use of the same standard units and coinage.1

This union aimed to standardize monetary practices among member nations. However, it was ultimately undermined by the monetary actions of Italy and Greece, and its end was hastened by the Franco-German War in 1870-71. The broader shift towards a gold standard, supported by most delegates at an international conference in 1867, also contributed to the union's demise.1

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4 Britannica Sources
  1. bimetallism
  2. monetary union
  3. money - The euro
  4. coin - The independent countries

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