DECIMAL COINAGE

Evening Post, Volume CXXII, Issue 65, 14 September 1936, Page 7

DECIMAL COINAGE

SUGGESTION FOR • CENTENNIAL

A reminder is given in > an editorial article of the New Zealand^ "Accountants' Journal" that when the Dorniriibh's coinage system was considered by a special Committee set up by tire Government in 1933, representations were made that, in regard to the change-over from British coinage to a system of tokens specially minted for New Zealand requirements, the decimal system of coinage and accounting should be introduced. In its report the Committee stated that under the';; circumstances ; then prevailingeconomic depression and the rapid depletion of.lmperial silver coins due to smuggling to gain the exchange margin, and the fact that new coins were urgently: required' before' any change-over to the decimal system could possibly be made—there would be no other course than to recommend the retention of the existing denominations for the new coins. At the same time, the' Committee made the suggestion that the alteration, in the New Zealand system might appropriately be considered in conjunction with any proposal to issue centennial coins here.1 ' ■ ,'■• ~ ' . ' ' ■ :

Although there is no special Decimal Association 'Working up interest in New Zealand, the question of the introduction of a decimal coinage system has on various occasions been brought prominently • before commercial interests. For many years-there has been a strong agitation in the. Old Country. At the last Empire Congress of Chambers of Commerce in London it >yas resolved:—"That whereas the use of decimal coinage promotes commercial efficiency and simplifies international exchange, and whereas the various national monetary units in all foreign countries, and also in several parts of the. British Empire, are now divided oh ''the decimal system, it is desirable that the decimalisation of the pound sterling be completed without delay." ' > While supporting the principle of the proposed change, the "Accountants' Journal" remarks that the adoption of the system would offer difficulties unless Great Britain and other countries 'forming the> Empire also adopted the method. While it is true that Canada uses the decimal system, there are special features operating in that Do- . minion which do not apply to New Zealand. Canada is a very close neighbour to,,the ■'. United States, afad the interchange of trade and the interchange of people between the; two countries has created a position which has'made the adoption of the decimal System ,in Canada almost a necessity. Under present conditions New Zealand finds the conversion of invoices for American and foreign importations irksome enough, and if the decimal system were adopted ahead of the rest of the other Empire countries a good deal of difficulty would arise.

■ The Duke of Kent paid a private visit to the Morris works at Cowley recently. He was met by Lord Nuffleld, and speijt nearly two hours inspecting the plant in the various departments. Later he visited the works of the Pressed Steel Company of Great Britain aI. .Cowley.