DECIMAL COINAGE

Press, Volume CIII, Issue 30396, 21 March 1964, Page 14

DECIMAL COINAGE

Study Of Change (N.Z. ..Press Association) ■ ■ WELLINGTON, March 20, : The Government is sending Mr J. N. Searle, bf tog Treasury, -to Australia for -a periofl.-qf. about, two weeks to. • study developments in the introduction, of decimal currency- in that country, - the Minister of Finance (Mf Lake) said tpday.. . .“Australia. is changing to decimal' .currency -in ’February. 1966, or . nearly 18 months ahead of ourD-Dayt July 11, 1967,” he said.'“Naturally, the. problems of*, coinage changes, machine conversions, price, and (idjustments, .and general organisation of. the changeover are similar to the . problems we are ripwt encountering here in . New Zealand, /■ Background - . “When- bur decimal currency .board is - set up. lateg this year,, background ihfor- - naation on Australia’s pblicy decisions; the procedure -and methods of settling the c6n ; . version formula and 'the costing of the conversion wiU be of great help to our board in its initial. studies'.’.’ The Minister said , that $r Searle had been closely ..■con-, nected with the development of the. decimal currency conversion operation 'in New Zealand for some trine. He had: many years of experience in mechanisation and ■ accounting • work in Government departments.