CURRENCY DIFFICULTIES.
LACK OF SMALL COIN.
THE HALFPENNY'S DOOM.
The amount of silver coin in circulation is still very short, and is causing considerable inconvenience in the business world. Coin of the smaller denominations
is in greatest demand. Practically no reserve supplies are held by the and, although, ordare for consignments have been standing in England for a long* time, there is no indication of their -jarly arrival. The reason doubtless is that at the present price of silver the British mint is manufacturing the smallest possible quantity of silver coins. Pennies are also in short supply. The banks have large quantities of halfpennies, but it' appears that the halfpenny is now of no more use than the farthing is. As far as Auckland is concerned, the introduction into general use of tramway tickets has had the effect of reducing the amount of small coin in use. Church treasurers, however, do not report any serious decline in the numbers of modest coins which tinkle in the " plates." Some time ago the possibility of the banks issuing five shilling notes to meet the silver difficulty was mentioned, but nothing more has been heard of the matter.
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Bibliographic details
New Zealand Herald, Volume LVII, Issue 17613, 28 October 1920, Page 6
Word Count
195CURRENCY DIFFICULTIES. New Zealand Herald, Volume LVII, Issue 17613, 28 October 1920, Page 6
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