FRANC

a modern French silver coin, but the name was given to two ancient coins in France, one of gold and the other of silver. The value of the gold franc was about half a guinea. The silver franc was in value a third of the gold one. The name was given from the device Francoruwm Rex, King of the French, on the coin, when first struck by King John Il in 1360. These coins, called francs a cheval, disappeared during the latter half of the fifteenth century. The silver franc, or franc d’argent, was worth twenty sous, and equivalent to the livre tour no is, and hence the use without distinction of the terms/livre and francs. The modern French franc is a silver coin and money of account which since 1795 has formed the unit of the French monetary system, and has also been adopted as the unit of currency by Switzerland and Belgium. It is of the value of a little over 93d. Ingiish, and is divided into 100 centimes. In 1920 and 1921, in consequence of the fluctuations of the rate of exchange, the value of the franc was about 4d. English, and in 1923 it was stabilized at 124-21 to the £, or rather le than 2d. in English money. In Belgium the franc has been stabilized at 175 to the & sterling; in ea it retains its original value.