The degree of influence that can thus be exerted on the value of the two metals depends on the size of the reservoir of the metal that is rising in value.

When it all leaves circulation, the law on the statute book permitting it to be coined becomes a mere phrase.

In such a case there is bimetallism _de jure,_ but monometallism _de facto._ The greater the league of states the greater is the likelihood that the plan will continue to work.

The only notable historical instance of international bimetallism is that of the Latin Union, which united France, Belgium, Italy, and Switzerland in an agreement remaining actually in force from 1866 to 1874.

A strong movement developed between 1878 and 1892 in favor of forming a great international bimetallic union of states.
One object of the movement was to put an end to the great fluctuations in the rates of exchange of money between the silver-using and gold-using countries, fluctuations which occasioned much uncertainty and loss to individuals engaged in foreign trade.