Rhodesia and Nyasaland pound British colonies. In the second half of 1964, Nyasaland became independent as Malawi, Northern Rhodesia became independent as Zambia, and Southern Rhodesia declared a name change to Rhodesia. Each issued their own pounds, at par with the Rhodesia and Nyasaland pound. See Malawian pound, Zambian pound and Rhodesian pound. The Federation also issued its own coinage. In 1955 a full new set of coins were issued with the Mary Gillick obverse of the Queen and various African animals on the reverse. The denominations followed those of sterling, namely halfpennies and pennies, which had a hole in them, threepences (known as
Northern Rhodesia crashed in 1931. An international agreement restricted output. This caused a catastrophe in Northern Rhodesia where many employees were sacked, and put an end to hopes which many Europeans had held of turning Northern Rhodesia into another white dominion like Southern Rhodesia. Many settlers took this opportunity to move back to Southern Rhodesia, while Africans returned to their farms. Despite the economic crash large firms were still able to maintain a profit. The fact that unemployed workers had left meant there were no increases in taxation, and labour costs remained low. At a 1932 conference of copper producers in New