§ 49. Mr. JACOBasked the Chancellor of the Exchequer, in connection with the proposed new silver coinage, whether he can sec his way to withdraw from circulation the inconveniently small three-penny piece and to issue a larger coin, of nickel, of the value of one-hundredth part of the pound sterling, as a further step towards the gradual decimalisation of the British monetary unit which was commenced when the florin was issued about 70 years ago as one-tenth of the pound?
§ Mr. CHURCHILLThere is no proposal to alter the existing silver coinage, though from time to time slight alterations in the designs are considered. I fear that the hon. Member's suggestion is impracticable.
§ Colonel DAYWill the right hon. Gentleman consider the abolition of the farthing?
§ Mr. CHURCHILLI do not think it is proposed to abolish anything.
§ Mr. HAYESWill the right hon. Gentleman bear in mind that the abolition of the threepenny bit would have a very serious effect on the collections in churches and chapels?
§ Mr. CHURCHILLI will certainly take into account all relevant considerations, but there is no intention to abolish the threepenny bit, which is extremely popular, especially in the northern portions of the country.
§ Mr. JACOBIs the right hon. Gentleman aware that the absence of a decimal system of coinage is a great handicap to British business undertakings, greatly increasing their working expenses, and is there any chance of his taking a further step towards a decimal coinage in the near future?
§ Mr. CHURCHILLIt seems to me that this would be a very good subject for a private Member's discussion some time next year.
§ 54. Sir CHARLES OMANasked the Chancellor of the Exchequer whether be will be able, at some early date, to issue for currency silver coins with such of the newly designed reverses as have received the approval of the Committee which has recently been sitting to consider them?
§ Mr. CHURCHILLI would refer my hon. Friend to the answer given yesterday by the Financial Secretary to the Treasury to the hon. and gallant Member for Central Hull.
§ 59. Sir P. RICHARDSONasked the Chancellor of the Exchequer whether when the issue of an improved silver coinage comes up for decision, he will advise reducing the size of the present copper coinage or of substituting nickel tokens such as have already been adopted in some of the Colonies and in many foreign countries; and what average annual saving could be effected by reducing the size of our copper coins by one half?
§ Mr. CHURCHILLI would refer the hon. Member to the reply given to the hon. Member for Acton yesterday. In reply to the last part of the question, the issues of new copper coin since 1922 have been small. On the basis of the pre-War demand (about £160,000 a year), and assuming that it were practicable to reduce the weight of the metal at present used in the coins by one-half, the saving would not exceed £15,000 a year.
§ Sir H. BRITTAINHas the right hon. Gentleman ever considered the weight of the coppers of necessity carried by an omnibus conductor?
§ Mr. BROCKLEBANKWill any change be made in the proportion of alloy to silver?
§ Mr. CHURCHILLIf the hon. Member means by that, can we improve the, quality of our silver coinage, I regret to say in these hard times these luxuries must he forgone.