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Joining the 'Europe' and Shrinking the Pound: Britain's Single Currency Debate of the Late 1860s

Author

Listed:
  • John Maloney

    (Department of Economics, University of Exeter)

Abstract

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-france piece. The debate shed much light on the contemporary state of value and monetary theory, and those who supported the changes had much the best of it.

Suggested Citation

  • John Maloney, 2005. "Joining the 'Europe' and Shrinking the Pound: Britain's Single Currency Debate of the Late 1860s," Discussion Papers 0502, University of Exeter, Department of Economics.
    • Handle: RePEc:exe:wpaper:0502
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    File URL: https://exetereconomics.github.io/RePEc/dpapers/DP0502.pdf
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