Skey. — On a Method of carrying out the Decimal Cnrrencij. 21 



each stamp, the small difference going to the revenue ; thus ihe truly 

 great scheme of international postage will not be interfered with. It is 

 very desirable to have the value in one coin, and that a decimal. 



Very few foreign nations appear to possess even an approximation to 

 either a pure decimal or a binary currency. This suggests the fact that 

 they, like ourselves, are in a transition state, and that further changes 

 will be made as occasion requires. 



Intebnational. 



It is interesting to note the number of nations which possess coins of 

 the same value, or very nearly the same, as those made use of in this 

 proposed system. Out of fifteen countries, twelve have a coin close to 

 the 2-4d., or the bron ; seven to the 2s., or florin; five near the double 

 florin ; seven near the pound ; and the Japanese have a coin at £1 Os. 6d., 

 one at 2s. O^d., and another at 2^d. 



If ever an international coinage conference were convened England 

 could not keep out of it. Is it not better to put our own currency in 

 order before that takes place? There would then be little danger of our 

 currency being interfered with. 



Moreover, if we wilfully handicap ourselves by the use of antiquated 

 tables, surely we ought not to be jealous of other nations if they outstrip 

 us in commercial success. 



Withdrawal op Obsolete Coins. 



These could be allowed to circulate as tokens for a certain fixed time 

 ■ — say, three years — during which time the banks would have absorbed 

 the bulk of them when empowered to change them into their equivalent 

 new coins. After this any coins left might still be allowed to circulate, 

 but at a depreciated value, for a further time — say, three years more— 

 the Id. being reduced to the value of --i, the -^d. to -2, and the :^d. to 'l. 

 After this any coins left might be kept as curiosities. 



It is only the thi'ee copper coins that are affected by the change of 

 currency, and the depreciation in then* values would hasten their with- 

 drawal before the end of the three years. The depreciation is so slight 

 that the question suggests itself. Is there no means whereby they could 

 be retained in the currency till worn out ? They are reduced in value by 

 this proposed method ■^-^. Now, if tiie banks were empowered to stamp 

 on both sides their new values ('i), and for every ninety-six pennies thus 

 stamped add four more new (the Government providing these and the 

 labour), we should then have 100 of the "l pieces ; and the same with all 

 the coppers as they accumulated in any quantity in the banks. 



These old copper coins are not really quite worth their weight in 

 copper, and might be considered as tokens, so that the change suggested 

 would bring them nearer to their intrinsic value ; and it would be only 

 right for the Government to provide the four new pieces to make the 

 ninety-six pennies into 100 of the 4-tenny pieces. 



The threepenny bits could be called in, and with them any worn 

 sixpences, to purchase their equivalents in brons, and issued contem- 

 poraneously with the new coppers. 



Thus would a cheap, gradual, and effective change be provided, with- 

 out inconveniencing the general public. It would not take long to get 

 thoroughly initiated in the new method of counting, by which time we 

 could begin to apply a decimal system to our weights and to our 

 measures. 



