This is a position paper with regards to the history of universal currencies. A product of an RMTU-SM student in his Major in BSED Social Studies which is Economic Planning and Strategies

1. POSITION PAPERIN ECONOMICPLANNINGANDSTRATEGIES
MR. CARL PATRICK SAHAGUNTADEO
BSE Social StudiesIII
MR. ERIC DELOS SANTOS EBRO, MPA, DSSE
ECOSP Instructor
“A Universal Currencies”
In 1800s, the first attempts to create an international currency for Europe occurred in France.
It is through the initiative of Napoleon’s finance minister, Francois Nicholas Mollien, who
supplements the uniform system of measures with a uniform currency.
In the other side, the vice president of the Conseil d’Etat, de Parieu, had been the instrument in
promoting the Latin Union in continental Europe which created the first modern international
currency.
The Latin Monetary Union was established in 1865 with France, Belgium, Switzerland and Italy
as members (Greece and Romania joined in 1885). Country members agreed to mint coins to a
single standard and to limit the minting of coins. Coins which will then be done would be
accepted as legal tender by government offices in country members. The Latin Monetary Union
continued until WW1 broke out in 1914.
The International Monetary Conference of 1867 tried to create a single monetary standard for
all of Europe, but the idea fell through, and no monetary changes followed the conference.