No. 86.
Mr. Cramer to Mr. Fish.

No. 159.]

Sir: I have the honor to inform you that, on the 18th instant, at Stockholm, a convention was concluded and signed by the duly-empowered plenipotentiaries of the three Scandinavian kingdoms, Sweden, Norway, and Denmark, in regard to the adoption and introduction of a common money system based upon a common gold standard. The full text of this convention was published yesterday in the semi-official paper of this city. The convention itself has not yet been ratified, but it” is supposed that it will be done very soon.

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I herewith inclose a translation of the substance of the said convention, marked “A,” also a copy of the paper containing the Danish text thereof, marked “B.”

I have, &c.,

[Inclosure “A.”]

Substance of a convention concluded and signed at Stockholm on the 18th of December, 1872, between the duly empowered plenipotentiaries of the kingdoms of Sweden, Norway, and Denmark, in regard to the introduction of a common system of coinage into the three northern kingdoms.

Article. I.

The three northern kingdoms adopt gold as the basis of a common system of coinage, with the use of silver and metal of a less value for smaller coins.

Article. II.

For the three kingdoms there shall be two main coins: the first shall be coined in such a manner that 248 pieces shall contain 1 kilogram of fine gold; the second, so that 124 pieces shall contain 1 kilogram of fine gold. The tenth part of the first main coin, or the twentieth part of the last named, shall be the common unit of calculation, and shall be called a crown. A crown is divided into 100 öre.

Article III.

Gold coins shall be coined of an alloy consisting in weight, respectively, of 90 parts of fine gold and 10 parts of copper.

The gold coin containing 10 crowns shall weigh 4.4803 grams, and that containing 20 crowds shall weigh 8.9806 grams.

The diameter of a 10-crown piece shall be 18 millimeters, and that of a 20-crown piece 23 millimeters.

Article IV.

Smaller coins shall be coined partly of silver, with an alloy of copper as indicated in Article V; partly of bronze, containing 95 parts of copper, 4 parts of tin, and 1 part of zinc.

Article V.

Of silver coins may be coined the following-named pieces, of the size, weight, and fineness indicated as follows:

Diameter. Net weight. Contents of fine silver.
Millimeters. Grams. Grams.
(a.) 1 piece representing the value of 2 crowns 31 15.00 12.000
(b.) 1 piece representing the value of 1 crown 25 7.50 6.000
(c.) 1 piece representing the value of 50 öre 22 5.00 3.000
(d.) 1 piece representing the value of 40 öre 20 4.00 2.400
(e.) 1 piece representing the value of 25 öre 17 2.42 1.452
(f.) 1 piece representing the value of 10 öre 15 1.45 0.580

Article VI.

Of bronze coins may be coined the following pieces, which shall contain the size and weight indicated herewith:

Diameter. Of one kilogram bronze shall be coined—
Millimeters. Pieces.
(a.) 1 piece representing the value of 5 öre 27 125
(b.) 1 piece representing the value of 2 öre 21 250
(c.) 1 piece representing the value of 1 öre 16 500

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Article VII.

In so far as a perfect exactness as to weight and fineness cannot be obtained for the single coin pieces, the variation from it, either above or below the proper weight and fineness, shall not be more nor less than is indicated herewith:

In regard to weight. In regard to fineness.
Adjusting by the piece. Adjusting by the kilogram. Net weight of each coin piece.
For 20 crowns 0.0015 } 0.0015 fine gold.
For 10 crowns 0.0020
For 2 crowns 0.0030 } 0.0030 fine silver.
For 1 crowns 0.0050
For 50 öre } 0.005
For 40 öre
For 25 öre 0.010
For 10 öre 0.15

In coining of gold care is to be taken that the deviation in weight for each denomination with or at 10 kilograms of coinage gold, is not to transcend 5 grams. The same normal rules for determining pure gold and pure silver shall form a common basis for assaying in the three kingdoms.

Article VIII.

All coins are to be coined with raised border; gold coins and silver coins, excepting 25 ören and 10 ören, are to be coined with a rifled ring each. Twenty-five ören and 10 ören with a smooth ring. The superscription shall plainly indicate the number of crowns or örens which the coins may respectively contain or represent. Likewise shall each coin show in which kingdom and in which year it was coined. Each kingdom determines the nature of the superscription and of the coinage of each denomination which it may coin for its own account.

Article IX.

All coins coined in accordance with the foregoing rules shall, under the limitations of Article X, be lawful currency, according to their respective value, in all three kingdoms, unless they should have suffered a violent or unlawful damage.

Article X.

Of smaller coins none shall be obliged to receive at one payment a higher rate than twenty crowns in one and two crown pieces, five crowns in smaller silver coins, and one crown in bronze coins. Gold coins shall cease to be lawful currency, as regards the treasury, when by their wear and tear 2 per cent. of their respective weight have been lost; and as regards the public, when ½ per cent. of their respective weight has been lost. Smaller coins shall cease to be lawful currency, as regards the treasury, when they are, respectively, so worn out that it cannot be determined with certainty in which kingdom it was coined; and as regards the public, when the superscription is illegible. Coins which, as regards anybody, are no longer a lawful currency, shall not again be put into circulation by the treasury. The same holds good with regard to silver coins which are 4 per cent. or more below their proper weight.

* * * * * * * *

The remaining articles contain rules as to the modus operandi of each kingdom in introducing the new money system. This convention is to be ratified, and the ratifications exchanged at Stockholm as soon as it can conveniently be done. Gold coin and the new unit of calculation shall be introduced into the three kingdoms not later than the 1st of January, 1875.