Decimal Currency Board: Correspondence and Papers

Registered files of the Decimal Currency Board containing minutes, correspondence and papers concerning various aspects of its work. Topics covered include benefits of decimalisation, matters relating to the 'changeover' to the new system, conversion issues, the cost of decimalisation (including compensation), publicity, advertising and press releases, coinage and weights and measures. Many files contain correspondence with organisations and institutions such as local authorities, nationalised industries, trade unions, schools, and the Stock Exchange. Also included in this series are agendas, minutes and papers of Board meetings and committees.

On 1 March 1966 the Chancellor of the Exchequer (The Rt. Hon. James Callaghan M.P.) announced in the House of Commons that the Government had decided to introduce a system of decimal currency, based on the £ as the major unit, in February 1971. He stated that a Decimal Currency Board would be appointed "whose function will be to examine in detail, with the institutions concerned, the problems of the changeover, to organise a programme of guidance to the public and to do everything necessary to promote a speedy and efficient transition."

In due course the Board was set up with its functions set out in the Decimal Currency Act 1967, as amended by the Decimal Currency Act 1969.

The Chairman and members appointed by the Chancellor were: Chairman: Sir William, later Lord Fiske of Brent CBEDeputy Chairman: The Rt Hon Lord Erroll of Hale PC TD

Members: J G Bothwell OBEH G Conway CBEP H DixonMrs E M DoddsB W GoodmanThe Rt Hon the Earl of HalsburyE J N Warburton CBEJ H Wiggins

Secretary: N E A Moore, appointed by the Treasury

The Decimal Currency Act 1967 determined the basis of the British decimal currency system (£-new penny-½), defined the specifications of five of the six decimal coins and gave statutory functions to the Board. Further legislative provisions were laid before the House of Commons in January 1969 and, with minor changes, were embodied in the Decimal Currency Act 1969, which became law on 16 May. This Act deals with detailed arrangements for effecting the changeover. The Board co-operated closely with the Treasury both in formulating the legislation and in preparing the White Paper 'Decimal Currency: The Change-Over' which was presented to Parliament at the same time.