Samuel B. Ruggles to John Sherman, May 17, 1867

Mr. Ruggles to Mr. Sherman

My Dear Sir: You are of course aware that there is a special “International Committee” now in session at Paris, organized by the Imperial Commission of France, to sit simultaneously with the “Universal Exposition,” and composed of delegates from most of the nations therein represented. Its object, among others, is to agree, if possible, on a comino unit of money for the use of the civilized world.

It is not improper to mention, that the opinion of the committee appears to be running strongly in favor of adopting as the unit the existing French five-franc piece of gold.

May I ask what, in your opinion, is the probability that the Congress of the United States of America would agree at an early period to reduce the weight and value of our American dollar, to correspond with the present weight and value of the gold five-franc piece in France, and how far such a change would commend itself to your own judgment.

I also ask the privilege of submitting your answer to the consideration of the committee. With high respect, your obedient servant,