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. Page 209
The regulations adopted by this Vienna Convention as to the gold coinage are very significant, and deserve special note.
The advance in the gold price of silver, due to the Californian and San Franciscan gold finds, acted on the silver-using countries. As soon as the price of bar silver exceeded 60 7⁄8-pence per standard oz., there resulted a melting down and export of the silver, in the countries which had adopted bimetallism at the 15 1⁄2-ratio.
It was this experience in France, and the allied group of countries, which led to the formation of the Latin Union in 1865. In mere point of date, that union had been preceded by the Vienna Conference and Convention by a matter of eight years. And as far as the regulations of this latter relating to gold coinage are concerned, there is evidence that the bimetallic action