British Food Journal Volume 69 Issue 4 1967

Abstract

Before this great innovation assaults the long‐suffering British public in mind and matter, in the retailer's cash register and the spender's pocket, a brief comparison between the present coinage and the promised decimal one might not be amiss. The £sd system has its faults and understandably is difficult for the foreigner, but no more so than the language and the weather. Like many things British it is so haphazard: why should there be 240 pennies to the pound? Why 12 pennies to the shilling? One thing, however, about this awkward currency is that it is amazingly well‐adapted to price variations at the lower level, and most commodities are in this range. Whether prices have adapted themselves to the flexibility of the coinage or the other way round is immaterial but the centuries have well and truly married the two. As a lowly coin such as the farthing has ceased to have commercial use with the falling value of money, it has disappeared and its place has been taken by the next larger, the halfpenny and then by the penny, and this must surely be the one great advantage of the £sd system.

Citation

(1967), "British Food Journal Volume 69 Issue 4 1967", British Food Journal, Vol. 69 No. 4, pp. 97-128. https://doi.org/10.1108/eb011658