The New York herald., 1921-10-02

Special Gable 10 THE New YoaK HERALD.
Copyright, 1891. by THE New York HERALD
New York Herald Bureau,
London, Oct l.
The hardy annual question of max
Ing British money decimal came up
In England in two places this week.
One was in the Municipal Tramways
Association, where accountants are
having hard time figuring the odd
ha'pennies under the newly increased
fares. This association gave flip to
the talk Of making a ten-penny shill-
ing instead Of twelve.
During meeting in Stafford. and
almost at the same time the tramways
association was discussing the money
decimal question, Mr.. Months, an ac-
countant. read well reasoned article
by Harry Allcock advocating the same
change. Mr.. Allcock argues that the
change would be much simpler than
even many advocates of it contend.
He would not change any current Brit
ish coin except to make the present
penny worth one-tenth instead of one
twelfth of a shilling, it's present value.
Would Aid Accountants.
He says such a change would give
British accountants and exporters the
supreme advantage of being able to
work In a decimal currency, but at the
same time not compelling the man In the
street to adopt new names for coins or
new methods Of keeping track Of his
money. He would retain the pound
sterling as the monetary unit. At the
Fame time he called attention to the
fact that the pound sterling was origi-
nally a pound weight or silver not
gold standard by any means.
According to his scheme. all notes and
gold and silver coins would still retain
their same value, with twenty shillings
10 the pound, but only ten pence to the
shilling. Only copper coins thus would
have q change Of value by increasing
the worth of the penny 90 per cent.
This would bring back many old penny
prices.
The form and present two shilling
piece would remain a tenth of pound
and perhaps ultimately replace the shil-
ling with tuppenny coins as its decimal
part. However none OF the advocates
or the change &c. this far now. They
would simply mako the penny a decimal
TO convert pounds sterling, or vice
versa. by moving the decimal point one
place and dividing or multiplying by
two Some trade accounts could still
be kept in pounds sterling. shillngs and
pence until general education warranted
a. complete decimal system. but mean
while muc compound arithmetic could
be elim,nG ted Thus eighty-nine pence
would be eight shillngs and nine pence,
instead OF seven shillings and five pence
No Need of Adjustments.
Wholesale firms. bankers. insurance
companies exporters. importers and
other concerns could, however i'm
mediately express at sight all their
prices In pounds sterling and the deci-
NAL parts thereof without adjusting
their accounts. and could thus place
Themselves on a level with their foreign
competitors. all of whom now use the
decimal system The process of ex- |
tending the decimal system would then
extend gradually without actually mint
ing any new coins or disturbing any
thing save the now lowly penny
Attention has been called to tthe fact |
that the quoting of prices in tenths Of |
a. penny is already prevalent In the tex
tile and other trades were close prices |
are necessary.
The present half crown piece would |
under such decimal system, become |
twenty-five pennies instead of thirty, |
as at present: the sixpence would be- |
come half shilling, or five pence:
the present unpopular three psnny BIT In |
silver would become tuppence ha penny,
or quarter of a shilling, and might be |
minted In nickel to conform with its
practical equivalent both in the United |
States and France. The ha'penny would
remain the same as 1t is, or the penny
could be divided into tenths instead of |
Into four farthings. with a ha'penny Of
I'VE farthinSs being the smallest actual