The predecessor of the euro
In 1803, introducing a new cash unit - the Golden Frank, Napoleon I established not only the content of gold in it (0.290322 g), but also the ratio of the price of gold and silver (1: 15.5). After sixty, and a little of years, this ratio was adopted in the Latin Mint (LMS) created by France, Belgium, Italy and Switzerland. The agreement on the creation of the Union was signed on December 23, 1865 and entered into force on August 1, 1866. 1.