1960s >> 1968 >> no-766-june-1968

50 Years Ago: Decimal Coinage

This little volume (Sterling Decimal Coinage. By Walter L. Craig. London. Effingham and Wilson 2/6) is an exhaustive enquiry into the matter of the adoption of a decimal coinage for the British Empire. The author’s reasoning is very cogent, and he incidentally shows how vested interests and official muddle-headedness and red tape stand in the way even of the capitalists doing the best for themselves.

Not that we are concerned about a decimal system of coinage. Its obvious efficiency as a labour-saver may be admitted, but is hardly likely to appeal to the unemployed clerk in the post-war days. Also, we are expecting to establish Socialism before Mr. Craig gets even a good start with his scheme to revolutionise the coinage, and under Socialism . . .  we shall have no use for either MILS or L.S.D. There will be neither giving or receiving of change, nor weeping and wailing and gnashing of teeth over the too late discovery of a bad ’un. And if, as Mr. Craig says, the ha’penny has killed the farthing—poor mite! — Socialism will kill the damned lot.

From the Socialist Standard, June 1918.