Make France Great Again-Chapter 793 - 784: Currency Union Signed

As soon as Count Algou finished speaking, the representatives of the various countries applauded once again for Count Algou’s speech.

Immediately after, Count Algou presented his proposal.

Given the significant differences between the countries participating in the conference and France in terms of gold and silver reserves, Count Algou proposed that from now on, the countries participating in the European Currency Union should base their currency systems on the French Empire’s monetary system. This means that the main currency should contain 0.2903325 grams of gold or 4.5 grams of silver per franc, and should be circulatable in the signatory countries of the currency union.

"Ladies and gentlemen, what do you think?" Count Algou asked the delegates present.

The representatives of the countries looked at each other, none daring to speak.

"Ladies and gentlemen, you may speak freely now! This currency union conference was meant to invite you to discuss together, and every country has the right to speak. Even if what you say is incorrect, no one will blame you!"

It wasn’t until Jerome Bonaparte’s voice reached the ears of the national representatives that they began to whisper and discuss among themselves.

About five minutes later, the representative of the Württemberg Kingdom was the first to stand up and inquire, "Representative Algou, I have a question for you, if you don’t mind answering!"

Count Algou glanced at the Württemberg representative, knowing that this representative was brought by Jerome Bonaparte as a way to lead the discussion.

Therefore, Count Algou smiled and replied, "Of course!"

"What I want to ask Representative Algou is this: you just mentioned establishing a currency system based on the franc. Does that mean all our national currencies will need to match the specifications and format of the franc?"

The Württemberg Kingdom’s question pointed directly at the core issue of monetary issuance rights, which was the most concerning issue for all countries participating in the conference.

If all countries’ currencies had to be replicated one-to-one with the franc, it would mean they effectively lost part of their currency issuance rights.

This is something unacceptable for some countries (such as Naples and Greece).

However, for a few countries that were already highly aligned with the French Empire (Swiss franc, Belgian franc), this was not a matter of concern.

"Of course not!" Count Algou decisively shook his head at the ambassador of the Württemberg Kingdom, and then continued to smile and assure everyone present, "Ladies and gentlemen, rest assured, the French Empire will never force any country to do something they are unwilling to do.

The franc system I mentioned is merely a standard measure. The styles of gold and silver coins can completely be designed according to your own national conditions!"

As he spoke, Count Algou pulled a five-franc gold coin from his pocket.

The gold coin sparkled, looking freshly minted, with the obverse featuring a miniature map of France (had it not been for the small size of the coin itself, Jerome Bonaparte had planned to include Algeria on it), and the reverse showing a map of Europe.

"This is the new currency we’ve minted!" Count Algou handed the five-franc gold coin to the representative of the Württemberg Kingdom.

The Württemberg representative took the currency from Count Algou and examined it carefully for a long time before handing it back to Count Algou.

After taking back the currency, Count Algou passed it to the representative of Sardinia beside him, asking him to pass it to the next person once he was done.

The Sardinian representative similarly scrutinized it for about half a minute before handing it to the Belgian representative beside him.

Subsequently, the Belgian representative handed it to the Swiss representative...

By the time all the representatives had examined it, nearly 7 or 8 minutes had passed, and the gold coin was returned to Count Algou’s hands.

Count Algou addressed everyone present with a gift, saying, "For those who wish to engrave the gold coins with anything you like, it is your freedom, but you must ensure that the weight of every gold coin you mint is consistent with the French standard, otherwise France will not recognize the currency in your hands.

Nor will it be exchanged!"

"What is the exchange rate between the gold and silver coins of the French Empire?" the representative of the Württemberg Kingdom asked again.

"1 to 15!" Count Algou answered the representative of the Württemberg Kingdom, then added a sentence, "However, this is not set in stone! Unless there is a major change in the international gold and silver markets, France will always maintain the 1 to 15 ratio.

I can assure you that even if the price of silver coins in the international market drops slightly, the exchange rate in France will not change.

Unless a large-scale silver mine is discovered in the international market, affecting the international silver price, France will then consider adjusting the gold to silver ratio as appropriate.

Until then, there is no need for you to worry about fluctuations in the price of silver!"

Hearing Count Algou’s assurance made the representatives of the countries even more inclined towards joining the union.

After all, the one thing small countries hated the most was fluctuating silver prices, which could have a significant impact on the silver they stockpile.

Now, by joining France’s European Currency Union, their currency wouldn’t experience the ups and downs it did before.

Moreover, some countries can also rely on the endorsement of France to issue bank notes.

With the backing of French credibility, there will surely be many willing to pay for bank notes.

"Representative Algo, I also have a question!" The Belgian representative stood up and inquired Count Algou.

"Please speak!" Count Algou responded to the Belgian representative with a calm expression.

"What is the maximum and minimum denomination of currency issuable between countries?" The Belgian representative inquired of Count Algou.

"My suggestion is not to exceed 100 francs at maximum and not less than 20 centimes at minimum!" Count Algou replied to the Belgian representative: "Currency over 100 francs is inconvenient to carry! After all, one franc contains about 0.3 grams of gold, so 100 gold francs would require 30 grams of gold! If you mint 200 or 300 francs of gold coins, it would need 60 grams and 120 grams of gold, so the coins must be made larger accordingly!

In that case, it’s better to carry more gold coins.

And if it’s less than 20 centimes, the silver content is too low.

It’s fine to use as subsidiary coins in one’s own country, but don’t take them out!"

"I understand!" The Belgian representative sat down again.

"Ladies and gentlemen, do you have any other questions you’d like to inquire about?" Count Algou asked the attendees again.

This time, no one raised further questions.

Subsequently, Count Algou continued: "Any country joining the Currency Union may mint coins with denominations of 100, 50, 25, 10, 5, and 1 franc in gold coins, as well as silver coins of 5, 2, 1 franc, 50, and 20 centimes!"

The delegates from various countries nodded in agreement, and Count Algou began to ask which countries were willing to join the Currency Union.

The Kingdom of Württemberg, the Kingdom of Belgium, the Sardinian Kingdom, and the Pope State expressed their willingness to join the Currency Union, followed closely by Switzerland, Sweden, and Naples, indicating their willingness to act alongside big brother France.

Now only the Kingdom of Greece had not yet made any move.

Since the vast majority of countries were willing to join the rules established by France, Count Algou decided not to wait for a single country,

after all, France is a nation that values its dignity.

Thus, Count Algou decided to conclude the discussion of the Currency Union meeting: "Alright! I will sign the Currency Union agreement with you all tomorrow, and I hope you can arrive punctually at the Louvre!"

After speaking, Count Algou, without considering the feelings of the Greek representative, turned and reported to Jerome Bonaparte: "Your Majesty, we are finished!"

"I understand!" Jerome Bonaparte nodded to Count Algou and then stood up to address the representatives: "I am very pleased that you all stand here for the unification of European currency!

This Currency Union can be considered the most progressive move in Europe since the Enlightenment, and I believe that in the near future, all European Monarchies will be able to establish (Switzerland was awkwardly silent) a community of shared destiny across the whole of Europe!"

After finishing, Jerome Bonaparte was also met with enthusiastic applause from the attendees.

"Alright, everyone! We should also report this good news to the outside world now!" Jerome Bonaparte beckoned everyone present to leave the Louvre.

The national representatives followed Jerome Bonaparte in a grand procession out of the Louvre, and as they stepped out, they were immediately cornered by reporters waiting there.

However, before these reporters made their way to Jerome Bonaparte, they were stopped by the soldiers.

"Let them through!" Jerome Bonaparte waved and told the soldiers.

The soldiers obeyed Jerome Bonaparte’s command and made way, allowing the reporters to approach him.

"Honorable Emperor, I am a journalist from the ’National Newspaper!’ May I inquire at what stage this Currency Union proposed by you currently stands? Could you share a little with us?"

"If I say no comment, you’ll probably be displeased!" Jerome Bonaparte responded mildly to the National Newspaper’s journalist: "All I can tell you now is that our discussions have been very pleasant! The signing of the agreement is imminent!"

After the National Newspaper’s journalist finished asking, the official newspaper ’Observer’ also questioned Jerome Bonaparte, though his questions were quite different from those of the National Newspaper.

The ’Observer’ asked Jerome Bonaparte about his impressions, and he responded with an equally official statement.

Immediately afterwards, Rastigne appeared once more, and he sternly told the reporters that their questioning time had ended and not to obstruct His Majesty any longer!

The reporters were evidently unwilling to give up, so Rastigne promptly had them dispersed. 𝘧𝑟𝑒𝑒𝘸𝘦𝘣𝑛𝑜𝘷𝑒𝓁.𝘤𝘰𝓂

Jerome Bonaparte gave Rastigne a deep look and then led the representatives to the Tuileries Palace.