Quicker Conversion Of Currency Wanted

Press, Volume CVI, Issue 31083, 11 June 1966, Page 14

Quicker Conversion Of Currency Wanted

(N.Z. Press Assn.—Copyright) SYDNEY, June 10. The Decimal Currency Board is investigating the possibility of reducing the scheduled 20-months conversion period, a spokesman said last night. The spokesman added: “While it may be possible to shorten the period by a few months, no radical reduction, such as halving the time, is likely. “The whole conversion timetable was geared, mainly to suit business machine companies, to take about 20 months. “We are having talks with the machine companies to see whether the time can be shortened.” The board, retail traders and financial institutions expect an apparent tendency among many people to cling to £ s d values to continue until machine conversion is completed and dual pricing eliminated. A banker said: “It is human nature for people to think in terms of what they are most familiar with. I have no doubt the moment conversion is completed, and all shops are working on decimals, that will be the rock on which £ s d will perish.” The Retail Traders' Association of New South Wales has asked the Federal Government to speed up the conversion. The secretary of the association, Mr J. B. Griffin said: "This protracted machine con-

version programme is undoubtedly delaying complete public acceptance of decimal currency. “ft is expensive and causes confusion keeping two currency systems running side by side. “The changeover went like a rocket after C-day, but somehow we must find a way out of this present hiatus. There will be no public reluctance once all machines are converted and dual pricing is eliminated. “The machine conversion programme is well up to schedule and the government should find some way of shortening the period. The retail _ trade would like it right out of its system by December.”