§ Sir H. BRITTAINasked the Chancellor of the Exchequer whether he can give the cost in the way of labour and material in the manufacture of the penny; what number of these coins was minted during the last 12 months; and whether, in view of the considerable bulk and weight of this coin, he will give consideration to designs for something smaller and of more convenient size to be introduced at an early date?
§ Mr. McNEILLOn a broad average the cost of manufacture may be taken as one-third of a penny. It varies of course with the price of metal and the size of the order to be executed. No pennies have been struck since 1922, the stocks held by bankers and others being sufficient. I am not aware of any general demand for a smaller and lighter coin.