PM Transcripts

r I FOR PRESS: PM. No. 8C/ 1967
END OF TRANSITION TO DECIMAL CURRENCY
Statement by the Prime Minister, Mr Harold Holt
Tomorrow will see the end of the transition to dollars
and cents. Reports reaching me show that the public and the business
community generally are already reaping benefits we had anticipated from
conversion to decimal currency.
There is, however, some danger that the greatest
benefit that of simplicity in our money dealings may not be fully
realised for a time because we find some still showing the value of
commodities, particularly higher-priced commodities, in pounds, shillings
and pence. This will only confuse the public, who have demonstrated
their ready acceptance of the new currency.
The Treasurer and I have discussed suggestions that
the Government should legislate to prohibit refercnces to pounds, shillings
and pence. We both considered this to be undesirable, and preferred to
make a joint appeal to those concerned. Accordingly, I have written to
representatives of the Australian newspapers, television and radio stations8,
and to advertising agencies, seeking their co-operation and assistance in
putting an end to 9. s. d. advertising. I have also written to interested
national commercial associations informing them of this, and asking them
to co-operate with the Government and advertising media by eliminating
all references to pounds, shillings and pence from their prices and
advertising. With the co-operation of these groups, the last vestiges
of the old currency should rapidly disappear. The replies I have already
received assure me of a genuine desire to work with the Government in
this matter. We changed our currency because of the considerable
advantages of a decimal system. We would be depriving ourselves of the
essential simplicity of the new system if we continued to use Outmoded
pounds, shillings and pence. The Decimal Currency Board, the machine
conversion companies, banks, business houses and news media have all
done an excellent job in assisting to shorten the transition . The
Government asks that pricing and advertising in the old currency
now cease.
CANBERRA, 31st July, 1967.