DECIMAL COINAGE SYSTEM

Press, Volume LXXXVI, Issue 26261, 4 November 1950, Page 8

DECIMAL COINAGE SYSTEM

BILL INTRODUCED IN HOUSE (New Zealand Press Association) WELLINGTON, November 3. The fact that so many countries in the world had adopted the decimal coinage system demonstrated that there must De considerable merit in it, said Mr H. G. R. Mason (Opposition. Waitakere) in the House of Representatives this morning. He was siv*.i leave to introduce the Decimal Coinage Bill and gave the House a brief outline of the provisions in the measure. Mr Mason said that it was proposed to take the shilling as the common element. The other silver coins would be unchanged. Anything that would simplify the bookkeeping system would be important and the simplest way io operate a bookkeeping system was tv employ a decimal method of accounting. The Minister of Industries and Commerce (Mr C. M. Bowden) said the basis could be on the £. the pen’ V. or the florin.

Mr Mason: It’s the shilling. Mr Bowden said there were definite advantages in the adoption of a de;L mal system. At the same time th**r«? were grave difficulties in the way tuJ a great deal of prejudice existed arm the people against any alteration in the present system. The majority ul New Zealand’s trade was with the U tiled Kingdom and Australia and there was parallel action in those Coui tries further difficulties would oe brought into calculations. A tremendous sum was involved in the insUllaticn of calculating and tabulating machines in the country. Whey were all based on the £ s d system and would become useless if the new system was introduced.

Mr Mason said that in the proposals the shilling would be unchanged, out new units would have to be crea‘« linkea to the £5 compound. As a stop-gap name for that unit he wo t d call it a “great crown" The unit which would be represented by onetenth of a shilling he would call a “decimal penny." The sixpence wo.Pd become a “half shilling” and the threepence a “quarter shilling." The socalled silver coins in circulation at present and the bank-notes would remain good tender, but the penny a.td half-penny coins would “pass ou./‘ The bill would provide that 12 months’ notice be given before it was brougnt into operation. It was, however, important that the central unit of *nc currency be identified with the country. There was, for example, a difference between the New Zealand pound and the English pound. The bill was given a first readin'.

PARLIAMENTARY DAY

(From Our Parliamentary Reporter.) WELLINGTON, November 3. When the House of Representatives adjourned lor the week-end at 6 o’clock this evening, it had almost completed the task it began a month ago—consideration and approval of the Estimates of departmental expenditure. To-day it approved six clauses of Estimates totalling £12,254 043. bringing the amount approved to date to more than £200,000.000

Although urgency was taken for five classes of Estimates for departments administered by the Minister of Lands (Mr E. B. Corbett) and four for departments administered by the Minister of External Affairs (Mr F. W. Doidge), the House spent most of the morning and afternoon discussing lands and forests. It approved votes for the New Zealand Forest Service, the Department of Lands and Survey, forest development and land settlement, and just before the adjournment for the Department' of External Affairs. Still to be considered next week are votes for the Broadcasting Account, the Departments of Island Territories and Tourist and Publicity, the Mines Department, and the State Coal Mines Account. In th* discussion on the votes for the forest service and the Department of Lands and Survey, (he former Minister of Lands (Mr C. F. Skinner) asked most of the questions for the Opposition. Subjects raised included the use of exotic timber for housing, the establishment of a school of forestry, which, Mr Corbett said, was not justified at present because of the number of students available, land settlement of returned servicemen, and the eradication of weeds. There was pro'onged discussion on the proposed £2B 000.000 pulp and paper scheme at Murupara. which drew from the Minister of Labour (Mr W. Sullivan) the statement that there was nd question whatever of the scheme not going on. Before the House began consideration of the Estimates, the Apple and Pear Marketing Amendment Bill and the Cook Islands Amendment Bill were introduced and read the first time, as'was a private member's bill--the Decimal Coinage Bill—sponsored by Mr H. G. R. Mason (Opposition. Waitakere). The annual report of the Mines Department was tabled, and Mr D. M. Rae (Government. Roskill) reported for recommendation that the Government give most favourable consideration to the petition of a group of returned servicemen asking for relief from the need to bass the entrance nr matriculation standard of Latin for law examinations.