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    The History of Bimetallism in the United States

    Act Dated December 12, additional to the Monetary Treaty signed November 6, 1885, between France, Greece, Italy, and Swi

    J. Laurence Laughlin

    2 min

    [ART. 3. Each state, by October 1st of the year following the expiration of the treaty, shall have retired the silver five-franc pieces bearing the stamp of the other states of the Union. After this date the treasuries will refuse these coins, except those of their own country.]

    [ART. 4. Then follow the detailed rules for carrying out the redemption of the silver coins between the several states, giving a special arrangement between Switzerland and France and Switzerland and Italy.]

    [Belgium is readmitted as a member of the Union, on the basis of the treaty of November 6, 1885.]

    ART. 2. The National Bank of Belgium shall receive the silver five-franc pieces during the duration of the treaty, as it has been determined for the Bank of France by Article 3 of the treaty.

    [The total subsidiary silver allowed to Belgium is 35,800,000 francs.]

    [ART. 4. On the date of settlement of accounts as to Belgium and French silver five-franc pieces, if the French Government finds itself the holder of a balance of Belgian silver five-franc pieces, this balance shall be divided into two equal parts.

    The Belgian Government shall be held to the reimbursement of one half of this balance conformably to Article 4 of the Arrangement.

    It engages itself not to introduce into its monetary régime any change which can hinder the return of the other half by way of commerce and the exchanges. This agreement shall have a duration of five years from the expiration of the Union.]

    [Then follow details as to redeeming coins between Belgium and France and Switzerland.]