SHORTAGE OF COPPERS.

New Zealand Herald, Volume XL, Issue 12260, 2 May 1903, Page 5 (Supplement)

SHORTAGE OF COPPERS.

AUTOMATIC MACHINES CAUSE A FAMINE IN PENCE.

A famine in copper coins prevails in several working-class districts of London and in a number of provincial towns. Much inconvenience is being suffered, particularly by the smaller tradesmen and their customers.

The explanation is twofold. First- there is the fact that in 1901 fewer copper coins by over ten millions were struck at the mint than in the previous year. Then the great, increase in the number of penny-in-the-slot machines of all descriptions is accountable for the swallowing up of hundreds of thousands of pennies daily. The present drain upon the bronze coinage is unparalleled, and it is anticipated that the mint will have to increase its output- to keep pace with the growing popularity of automatic machines. Whereas in IyOO - the bronze coins of all values struck numbered 51.552,616. they were reduced in 1901 -the latest. return available —to 41,349.387, of which only 22.205.568 were pennies. Figures supplied by the Sweetmeat Automatic Delivery Company show that into the machines of that firm alone something like 43,80-1.800 pennies are dropped in the course of twelve months. '

The Mutoscope and Biograph Company has dose upon 8000 penny-in-the-slot machines, which absorb about 150,000 coppers daily. Ten smaller firms take nearly 120.000 pennies between them every day. It is easy, therefore, to see where the coppers go. But in addition there are the penny-m----the-slotgas metres. There are in London 267,745 such machines, into which 540.000 pennies are dropped daily. Every provincial town of any importance has adopted the peuny-in-the-shit metre system. In'the Potteries trade is being considerably interfered with by the shortage. Two thousand pounds' worth of pennies are locked up in the gas metres. The scarcity is so acute as to have formed the subject of discussion at a special meeting of the North Staffordshire Traders' Association, when it was decided to appeal to the banks. , In the Newcastle district there are 13,000 automatic metres in use, and their contents are being collected at more frequent intervals than formerly in order to cope, with the growing demand for coppers. ■ There are 12.000 pennies in the gas metres in Swansea, while at Portsmouth the shopkeepers, especially on Saturday nights, ate being greatly handicapped by the insufficient supply.