The Contribution of the Latin Monetary Union and the Paris Monetary Conference of 1867 to the Evolution of the International Financial Law
https://doi.org/10.24833/0869-0049-2010-1-192-202
Abstract
The Author on the example of Latin monetary union and of the Paris monetary conference of 1867 shows the stages through which the states had gone from unilateral and bilateral to multilateral modes of regulation of the international finance system. In the beginning of the XIX century England dominated in world economy and tried to ensure for English pound sterling the role of «world currency». England by its unilateral act of 1816 fixed gold standard of the pound sterling. In response France initiated the creation of the international organization - the Latin monetary union in order to develop the positions the French franc in the world finance system.
In 1867 Napoleon III called the International monetary conference in Paris which decided, that all national currencies would have the gold basis. This system had been existed till the First World War. Latin monetary union and Paris International currency system were start points for the creation and development of norms and institutes of International Finance Law.
About the Author
Yu. V. Shumilov
Russian Foreign Trade Academy
Russian Federation
Russian Federation
Yuri V. Shumilov – post-graduate student
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Review
For citations:
Shumilov Yu.V. The Contribution of the Latin Monetary Union and the Paris Monetary Conference of 1867 to the Evolution of the International Financial Law. Moscow Journal of International Law. 2010;(1):192-202. (In Russ.) https://doi.org/10.24833/0869-0049-2010-1-192-202
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