SCARCITY OF SMALL COINS

Taranaki Herald, Volume LXIII, Issue 144854, 4 December 1915, Page 4

SCARCITY OF SMALL COINS

IN EUROPE AND AUSTRALIA. The scarcity jf small change which is now commencing to be lelt in Australia is very pronounced m Europe. In Pans customers at simps are ouen required to hud on t.le spot the exact price charged tor goods, because the vendor cauuot procure cuauge. this is rather a remarkable teaturo in France, and suggests that the people who formerly hoarded gold s.nce brought out in response to the State appeal, are now accumulating small coins instead. Whatever may he the reason lor the position in France, the scarcity causes much inconvenience in culinary commercial transactions of daily life. In Australia the shortage of subsidiary coins is hardly perceptible outside those who have heavy weekly pay-sheets, and the cause here is the prosperity of the great mass of the population, owing to the lavish expenditure of the Governments. When it was foreseen that the supply of silver coins was likely to be insufficient for requirements, the Imperial authorities were asked to ship a further £IOO,OOO worth as soon as possible. In future silver coins will be struck at the Australian branches of the Pmyal Mint out of metal. produced in the Commonwealth, and it is understood that the necessary dies are now in transit. As a result- of this worldwide demand for small silver coins, the metal has appreciated materially in value, being now at a higher level than any touched since September, 1914.