This principle was subsequently adopted by all the states of the Latin Union. During the years, 1874-76, three annual conferences of the Union were held at Paris, with the result that the limitation of the coinage of the 5-franc piece was fixed thus—
| 1874. | 1875. | 1876. | |
|---|---|---|---|
| Belgium | 12,000,000 | 15,000,000 | 10,800,000 |
| France | 60,000,000 | 75,000,000 | 54,000,000 |
| Italy | 60,000,000 | 50,000,000 | 36,000,000 |
| Switzerland | 8,000,000 | 10,000,000 | 7,200,000 |
| Greece (which had acceded to the Union in 1868) | 12,000,000 |
Of these states Switzerland alone did not coin up to her total, and at the conference in February 1876 her delegates pressed strongly for the entire cessation of the coinage of the 5-franc piece, and for the adoption of a gold standard. In this she was Page 195 strongly opposed by Italy. The latter state, on account of the disappearance of her metallic currency before the inconvertible paper, had no interest in the limitation of the mintings of the Union. In the conference of