NEW DOMINION COINAGE

Otago Daily Times, Issue 22102, 4 November 1933, Page 19

NEW DOMINION COINAGE

MACHINERY LEGISLATION EMPOWERING BILL INTRODUCED. (Fbom Oub Parlxamentaby Repobteb.) WELLINGTON, November 3. Seeking to replace the Imperial legislation by local legislation in anticipation of the issue of the special New Zealand coinage, the Coinage Bill was introduced into the House of Representatives to-day, and read a first time. In the Finance Bill of last year a clause was enacted giving preliminary power to the Government to arrange for the minting of New Zealand’s own silver coinage. The Coinage Bill is a machinery measure designed to give effect to this purpose. It sets out the specifications of size, weight, and fineness of the new coins. The specifications will in each case be the same as those of the present English coins, but there will be distinctive designs. The Bill empowers the Minister of Finance to issue silver coins of the following denominations;—Crown, half-crown, florin, shilling, sixpence, and threepence. He may also issue bronze or cupro-nickel coins of such denominations as may from time to time be determined by proclamation. The cost of all coins made and issued is to be paid out of the public account.

The usual provisions are. made regarding the legal tender of the different coins. The new coins will be legal tender at once. The present coins will remain legal tender until a date to be fixed by proclamation. The Governor-General is empowered by proclamation to determine the dimensions and designs of any New Zealand coins, to determine the weight below which a coin is not to be current, and to call in any coin of any date or denomination.