Paris Monetary Conference (1867)

The conference was the brainchild of French statesman Félix Esquirou de Parieu, who had been instrumental in the creation two years before of the Latin Monetary Union.

[2][3][4] The Paris Exhibition of 1867 furnished the occasion for summoning the conference, which was attended by Austria, Baden, Bavaria, Belgium, Denmark, Greece, France, Italy, the Netherlands, the Ottoman Empire, Portugal, Prussia, Russia, Spain, Sweden (jointly with Norway), Switzerland, the United Kingdom, the United States, and Württemberg.

The inaugural session was chaired by French foreign minister Lionel de Moustier, then the next three by Parieu.

[7] Difficulties as to the mode of bringing these principles into practical operation were discussed, and full liberty had to be given to the several nations to carry out the proposals in the way that seemed best.

The conference concluded on 6 July 1867, with a stance favorable to the gold standard (as was Parieu's preference) but recognition that the transition from bimetallism would be gradual.