FARTHINGS AND THREEPENCES.

Timaru Herald, Volume CXXXIII, Issue 18762, 29 December 1930, Page 4

FARTHINGS AND THREEPENCES.

TO GO WITH THE HALF-CROWN. The monetary reformers are always in evidence in Britain, and recently their voices have been lifted up afresh, says Mr R. James, in an article in the “Spectator.” Their present suggestions are not for radical reorganisation, but for minor adjustments. Pounds, shillings, and pence are to be left untouched, but other coins are a nuisance, and, according to these reformers, must go. The condemned pieces are the farthing, the threepenny bit, and the half-crown. The use of farthings varies according to locality. In some districts they are in common use, while in others they are almost a rarity. The number struck at the Royal Mint, however, is surprising, and it is literally true to say that they are turned out by the ton. In 1928, the latest year for which figures are available, the number of farthings struck was 11,625,000, and to manufacture them 33 tons of metal were used. In 1918 the record number of 21,000,000 was issued, or over 60 tons of them.

The farthing contains more than one-quarter of the metal used in a penny, and, therefore, its manufacture is not so profitable to the Royal Mint as is that of the penny. A ton of alloy will make £448 in pence, but only £373/6/8 in farthings. The bronze alloy used for coins to-day costs about £45 a ton, so even on farthings there is a considerable profit. A shilling’s worth actually costs about three-halfpence. Apart from the inconvenience which the withdrawal of the farthing would cause to certain classes its retention is desirable on historic grounds. The farthing—or fourthing—then made of silver, first became a coin of the realm in the reign of Edward I. The copper farthing dates from the time of Charles I. Those of to-day, although loosely termed “coppers” are made of bronze; no copper coins of any kind have been struck since 1860.

There is one very mysterious feature of farthings. Official figures show exactly how many are put into circulation, but nobody seems to know what happens to them afterward. Millions and millions simply vanish every year. The law provides that money may be withdrawn from circulation when worn. This applies to silver and to pennies and halfpennies. Farthings are an exception, and are not withdrawn. Between the years 1860 and 1928 over 380,000,000 were issued.

In calling for the abolition of the threepenny-bit the reformers are attacking what is probably the most surprising member of our coinage. The farthing outwardly may have few friends, save the tradesmen, who use it in their prices to appeal to the reasoning woman, but the threepenny-bit would seem to have no friends at all. It is at once the bane of ’bus conductors and the despair of church officials. The demand for threepenny-bits varies considerably. In 1924 none was issued, but during the past 10 years over 50,000,000 have been minted. They

‘"•e much more popular in Wales and Scotland than in London, and it is understood that a large proportion of those issued are sent north.

The reformers, who in this respect have softened their hearts, are asking for the return of the four shillings, or double florin, which was one of the Jubilee coins introduced in 1887. It was not popular, and its minting ceased in 1893.