Monetary Conventions and Unions

The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Monetary Conventions and Unions

 

agreements among states aimed at standardizing the weight and purity of mutually accepted coins. Monetary conventions were established as early as the Middle Ages. The better known of such agreements among the Germanic states include the Austro-South German Conventions of 1753 and 1837, the North German Conventions of 1836 and 1838, and the Austro-German Monetary Union of 1857; in accordance with these, the weight and purity of coins in common use were defined by the participating countries. The Latin Monetary Union (1865–1926) and the Scandinavian Monetary Union (1872–1924) also took the form of such agreements.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.