(3.) The standard fineness of gold coin and of the five-franc silver coin (other silver coins being subsidiary) is 900 per mille; the remedy of the fineness is 2 per mille.

(4.) The standard weight of gold coin and the five-franc silver coin, and the remedy of weight for each piece, are given by the following table:

Denomination.

Weight.

Standard.

Remedy.

Francs.

Grains.

Grammes.

Milliemes.

Gold-100 ,

497.80638

32.25806

1

50 . . .

248.90319

(16.12903

20 . . .

99.56124

6.45161

2

10 .

49.78054

3.22580

5 . . .

24.89027

1.61290

3

Silver-5

385.80000

25.00000

The twenty-franc gold piece, therefore, contains 5.806 grm. of fine gold, and the five-franc silver piece contains 22.5 grm. of fine silver.

(5.) The silver subsidiary coinage is only legal tender to the amount of 50 francs. The standard fineness of subsidiary silver is 835 per mille, and the remedy is 3 per mille. The standard weight of silver coin is such that a franc weighs 5 grm.; a franc therefore contains 4.175 grm. of fine silver.

The following table gives the weight and remedy of weight of the silver subsidiary coins:

Denomination.

Weight.

Standard.

Remedy.

Grains.

Grammes.

Milliemes.

Francs 2.00 .

154.320

10.00

5

1.00 .

77.160

5.00

0.50 ,

38.580

2.50

7

0.20 .

15.432

1.00

10

(6.) The charge for coinage is 7.4 francs per kilogramme of fine gold, and 1.6 francs per kilogramme of fine silver. Since one kilogramme of fine gold = 3444.4 francs, and one kilogramme of fine silver = 222.2 francs, the importer receives 3437 francs per kilogramme of fine gold, and 220 fr. 56 c. per kilogramme of fine silver. . (7.) The contracting governments refuse to receive at their nominal value gold coins reduced by abrasion 1/2 per cent. below the remedy, or silver five-franc pieces reduced 1 per cent. below the remedy, or coins of either metal from which the stamp is effaced. The loss on recoinage is borne by the last holder. In the case of subsidiary silver coins, the government issuing them is bound to withdraw and recoin them at its own expense when they are reduced 5 per cent. below the remedy, or when their stamp is effaced.*

(8.) The amount of subsidiary coinage is limited to six francs for each individual.

(9.) The coinage is carried on by contract, the contract being granted to the person making the highest bid on the price of fine gold and silver. The following is a brief sketch of the salient points of this system. Proposals for the coinage are only received upon condition that the competitor deposits the sum of 10,000 francs in the public funds; and the successful competitor must further, within eight days from the acceptance of his bid; deposit in the treasury the sum of 500,000 francs. The contractor is made solely responsible, both on his own account and on that of his subordinates. The contract ordinarily endures for twelve years, but may be discontinued by the government upon the death of the contractor. The contractor has the gratuitous use of all the buildings constituting the mints, and of all the apparatus of minting belonging to them. New machines provided by him with the consent of the minister of the interior are bought by the government at a valuation on the close of the contract. The buildings and machinery of the mints must be kept in repair at the expense of the contractor. The control and superintendence of the coinage are confided to agents of the government; and all pieces for any reason not admissible in the circulation are by them separated and defaced at the expense of the contractor. The quantity and denominations of the coin are determined by the minister of the interior, to whose department the process of minting belongs, and to whom its regulation is therefore entrusted. The contractor has for his profits the proceeds of taxes for the coinage, refining, and "parting"* of bullion, as well as the charges paid on these accounts by the importer. It may be mentioned that no bids are accepted below 3436 fr. 50 c. per kilogramme of fine gold and 220 fr. per kilogramme of fine silver, these amounts being less by fifty centimes and fifty-six centimes, respectively, than the price paid to the importer.

* How the nationality of a coin is to be determined when its stamp is effaced the Act does not state.

The following is the monetary system of Holland, as framed by the laws of 1847 and 1875 :

(1.) Both gold and silver are standards of value, the relation of gold to silver being estimated at 15 5/8 to 1.

(2.) The unit of value is the " florin."

(3.) The standard fineness of gold coin is 900 per mille, and the remedy of fineness is 1.5 per mille. The standard fineness of silver coin is 945 per mille, and the remedy of fineness is 1.5 per mille.

(4.) The standard weight of the gold piece of ten florins is 6.72 grammes, and the remedy of weight is 2 per mille. The standard weight of the silver florin is 10 grammes, and the remedy of weight is 3 per mille.

* The "parting" of bullion is the term given to the process of separating bullion of mixed gold and silver into its constituents.

(5.) There is no law requiring the withdrawal from circulation of abraded coin. However, coins which are returned in so defaced a condition as to be unfit for further circulation are replaced by new ones at the expense of the state.

The following is the monetary system of Egypt:

(1.) Both gold and silver are standards of value, in the relation of 15 1/2 to 1.

(2.) The unit of value is the Egyptian "pound" of 100 "piastres."

(3.) The standard of fineness of gold coin is 875 per mille, and the remedy of fineness is 3 per mille. The standard fineness of silver coin not subsidiary is 833 1/3 per mille, and the remedy is 3 per mille.

(4.) The standard weight of the gold pound is 131.99 grains troy. The standard weight of the silver "tallari," or piece of 20 piastres, is 428.94 grains. The remedy of weight for these coins and their subdivisions is as follows:

Denomination.

Weight.

Standard.

Remedy.

'Piastres.

Grains.

Grammes.

Grains.

Gold:-100 .

131.9900

8.55360

1

50 .

65.9950

4.27680

1

25 .

32.9975

2.13840

1

10 .

13.1990

•85536

1/2

5 .

6.5995

•42768

1/2

Silver:-20 .

428.9400

27.79560

4

10 .

214.4700

13.89780

1

5 .

107.2350

6.94890

1

2 1/2 . .

53.6175

3.47445

1

(5.) The following table gives the standard weight, and the remedy for subsidiary silver coins. Their standard fineness is 750 per mille, and the remedy of fineness is 3 per mille.

c

Denomination.

Weight.

Standard.

Remedy.

Piastres.

Grains.

Grammes.

Grains.

1.00 .

19.064

1.23536

1.00

0.50 .

9.532

0.61768

1.00

0.25 .

4.766

0.30884

0.25

(6.) There is a charge for coinage.