Note 45 — Chapter I
Reading edition
Switzerland was the first to reduce the amount of silver in her small coins in order to keep them in circulation. But these Swiss coins of reduced fineness crossed the national frontier and, as they were legal tender in other countries of Latin origin, began to displace their dearer coins of similar denominations, which contained more silver but which passed current at the same nominal value. This brought forth a decree in France (April 14, 1864) which revoked the legal-tender power of these debased Swiss coins in French territory. This, of course, compelled resort to a concerted action on the part of all the Latin countries concerned.