The History of Bimetallism in the United States
Act II. Authorizing the ministry of the kingdoms and lands represented in the Reichsrath to conclude a treaty for moneta
19th Century J. Laurence Laughlin English[Act II authorizes a treaty by the terms of which the crown standard is to be adopted in both parts of Austro-Hungary. All coins of the crown standard are to be received in either part of the monarchy in payment of public dues, on the terms defined in Act I. Abraded coins are to be redeemed by the mint issuing them. The coinage of the subsidiary coins, silver, nickel, and copper, is to be divided between the countries in the proportion of 70 to 30, Austria coining 70 per cent of the total, Hungary 30 per cent. Thus Austria is to coin 140 millions and Hungary 60 millions of the new silver crown pieces. The burden of the redemption of the state paper money is to be divided in the same proportion. Out of a total of 312 million florins of paper which are considered a debt common to the two countries, 70 per cent are to be redeemed by Austria, 30 per cent by Hungary. It is agreed also that the one-florin notes are to be redeemed first, and to be replaced by money of the new standard. Notes so redeemed are to be destroyed.]