Govt. Will Stick To Currency Decision
(New Zealand Press Association)
WELLINGTON, July 1.
The Parliamentary Under-Secretary to the Minister of Finance (Mr Muldoon) said today the Government did not propose to alter its decision to adopt the ten shillings major unit for the decimal currency system as suggested by Professor W. L. Taylor, of the University of Otago.
“Mr Taylor’s reasons for wanting to adopt the pound system ignored altogether the desirability of values being easily associated in decimals as in the 10 shilling system,” Mr Muldoon said. The pound system could well require banks and accountants to introduce fractional coins into their system. Mr Muldoon said.
“We have not lightly discarded the pound system,” Mr Muldoon said.
“We have adopted the 10 shilling system because we believe that it will be more easily understood and therefore much more acceptable to the general population of New Zealand. “There is no reason for us to wait for the British Government to make up its mind, since this would create uncertainty, cause delay, and increase the cost of our change-over,” Mr Muldoon said.
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Press, Volume CIII, Issue 30482, 2 July 1964, Page 12
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181Govt. Will Stick To Currency Decision Press, Volume CIII, Issue 30482, 2 July 1964, Page 12
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