Clause 1. — (Cupro-nickel coins to be legal tender for payments up to forty shillings.)

Part of Orders of the Day — Coinage Bill – in the House of Commons at 12:00 am on 18 October 1946.

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Photo of Mr George Hall Mr George Hall , Merthyr Tydfil Aberdare 12:00, 18 October 1946

Yes, but after all, what happens in India does not really affect our Debate here. We must take the thing on its merits and decide the matter in the light of the circumstances facing us. India went back to silver, and why not? Silver is a very pleasant material to use. We would like to use silver and there is no reason why we should not if times were different. India did not stop minting these coins because they could be easily counterfeited, nor because they were filthy or liable to become pitted. India decided to turn to other metals and she is now using those metals. These coins were not withdrawn and they are still in use along with the new ones. So far as the material is concerned, there is not a great deal in the suggestion that we are failing to support Canada by using cupro-nickel. The amount of pure nickel required if the coins were to be of that material is relatively very small compared with the output of the Mond Nickel Company. I cannot give the figures though I can assure the Committee that even if we changed over entirely to pure nickel, the percentage of the total output of the Mond Nickel Company which we would require would be negligible.

In reply to another point made by an hon. Gentleman opposite to the effect that if we used pure nickel it would form a useful reserve of that kind of metal for war purposes, I would point out that during the war much was made of this point in various parts of the world, but, there is not much in it. If we take the whole of our 1939 coinage in circulation as a basis, and if it was made of pure nickel, the amount of metal that could be recovered would be no more than 7,000 tons. I will not weary the Committee any longer. I have perhaps taken long enough in discussing this matter and there are a variety of Amendments on the Order Paper which deal with the point. I know the Committee feel rather disturbed at this change and that hon. Members have been impressed, either by letters in the Press or other means, with the suggestion that we should wait and use nickel. The point is that we cannot wait. Cupro-nickel will give us an excellent coinage. We can go over to nickel later if the views now expressed by me are incorrect. At present cupro-nickel is the only material that can be used. I hope the Committee will realise that and approve this Clause without Amendment.