Slower Change Preferred

Press, Volume CVI, Issue 31249, 22 December 1966, Page 3

Slower Change Preferred

(N.Z. Press Association) WELLINGTON, Dec. 21. Three of New Zealand’s largest national retail chains today backed the Decimal Currency Board’s zoning plans for next year’s change. McKenzies (NZ.), Ltd., S>lf Help Co-op, Ltd, and Woolworths (N.Z.), Ltd, in a combined statement, said that, in general, they intended to conform with the arrangements anttouneed by the board for conversion by

zones over a period of about 12 months. “In our opinion, a hasty attempt to complete changeover during the week or two after D.C. Day, using makeshift methods, would help to create the confusion and inconvenience it is hoped to avoid.

“The key-top conversion, as a means of implementing an immediate change-over, has very serious defects. Certainly it would enable the old money to be withdrawn rapidly from circulation, but in avoiding the use of mixed money we would be introducing a mixed transaction for every customer.” The said that,

under the key-top system, the companies said the money used would be dollars and cents, but the cash register would still be adding in pounds, shillings and pence, and the dockets would be issued in this currency. “It would be difficult, therefore, for the customer to check his docket, which would be in £.s.d., against the goods, which would be priced in deci, mats. “Because coins and notes in both currencies (except pence and cents) are completely interchangeable, t v •> handling of the two currencies together will not be a great problem. This is confirmed by our observers in Australia. £

"In spite of the public education programme being operated by the Decimal Currency Board, the public would be better off if able to become accustomed to the new money gradually. This can be done by having it tied to the old. familiar £.s.d. values, and having them circulated side by side. “We are, therefore, convinced the interests of our customers will be best served by the gradual change as planned by the board. “After careful study of the key-top conversion method, we are convinced it will make the transaction period more difficult for the shopping public.”