Decimal Day Board. Consideration was given to introducing a new major unit of currency worth ten shillings in the old currency: suggested names included the "new pound", the "royal" and the "noble". This would have resulted in the "decimal penny" being worth only slightly more than the old penny (this approach was adopted, for example, when South Africa, Australia and New Zealand decimalised in the 1960s, adopting respectively the South African rand, Australian dollar and New Zealand dollar equal in value to 10 shillings). But Halsbury decided, in view of the pound sterling's importance as a reserve currency, that the pound should
Private currency in pre-revolutionary Russia Private currency in pre-revolutionary Russia In Russia, in the second half of the XIX to early XX century limited means of payment got rather widespread among private individuals - owners of commercial firms, shop owners, owners of profitable outlets at clubs. Sometimes the use of surrogate money resulted in a temporary shortage of state paper bills of small denominations and small coins in some region of the country. But most often the initiators of such unofficial emissions were the desire to get a more concrete economic benefit, for example, when bons that were paid instead of usual wage went then