One of the reminders of Jamaica’s colonial history, was Britain’s money and images. People all over traded in a currency that did not represent them, with images of the Queen and buildings unknown to its people adorning the note. The day Jamaica began to do for itself, using its own notes and joining the global foreign exchange market was one to be proud of, even to this day, some 52 years ago.

Published Tuesday, September 9, 1969

Jamaica on decimal currency

SMOOTH CHANGEOVER TO DOLLARS AND CENTS

WITH PRAISE FROM the Governor-General and from the Prime Minister, Jamaica’s decimal currency conversion programme came to a triumphant climax yesterday when C-Day was marked throughout the island.

After over a century in which Jamaica has had only two coins of its own, the penny and the half penny, and had used British coins, the nation yesterday officially changed its currency from the Sterling system to the decimal system.

“This C-Day stands out prominently in the history of Jamaica as a great landmark and I am very happy and proud to be the Governor-General this morning,” said His Excellency Sir Clifford, as he praised the smoothness and efficiency of the change-over. “I am sure I speak for the entire Cabinet this morning when I say to you that I think you have done a very, very magnificent job,” the Prime Minister, Mr. Shearer told members of the Decimal Currency Board.

Coming in for the highest praise from the two national leaders were the Minister of Finance and Planning, the Hon. Edward Seaga, who had the overall responsibility for the decimal currency conversion programme; and the Governor of the Bank of Jamaica, the Hon G Arthur Brown, who was in charge of carrying through of the programme.

Reflection

Both the Governor-General and the Prime Minister praised the smoothness and efficiency of the changeover; and this way reflected in the actual report of the day’s events from many quarters - the banks, the shops, and other trading and shopping centres - which all told the same story that the new currency had before launched effortlessly.

At a luncheon given by the Bank of Jamaica yesterday to mark C-Day, Mr. Seaga said he was grateful to be associated with what was indeed a historical occasion for Jamaica. For the conversion of the Jamaican currency was something that would affect every single person in the island, to the same extent that Independence had.

Mr. Seaga spoke of the challenge which was presented by decimalization: that of reaching the broad mass of the people. Something had to be done that had not been done before - a public education campaign that would reach every corner of the country. Allowing for the limitations of press, radio and television, a formula had to be found for the campaign.

As a result, he said, one of the by-products of the decimal currency conversion campaign was that such a formula had been found. By a massive programme of lectures, seminar: film shows and other means of mass communication, the campaign had been successfully carried to some half a million people throughout Jamaica.

Mr. Seaga expressed appreciation for the smoothness and efficiency of the changeover, adding his own quota of congratulations to the members of the Decimal Currency Board for their work in the campaign.

Difficulties

Although C-Day had been marked by efficient smoothness, he said, there were difficulties to come. “This is time when the difficulties were either known or could not be foreseen, will surface,” he said. “But one thing I am certain of, is that it will not take the Jamaican people long to adapt to this system. The resourcefulness of the Jamaican people is something that can be counted on.”

Mr. Seaga drew smiles and laughter as he humorously observed that that resourcefulness was to be seen in the instances where some persons were prepared to forge currency notes or to attempt to get more change than they were entitled to. “But there is no question about it, that the Jamaican people have this resourcefulness in them when it is called upon in critical times to give co-operation towards measures that have to be done,” he went on.

Effectiveness

“I believe that the entire programme has been an effective one and having been effective. I sincerely hope it will continue to receive the cooperation of all Jamaicans in ensuring the smoothness of our progress on the road ahead.” Speaking before the Minister, Mr. Brown recalled that preparation for C-Day started as far back as three years ago when the Working Party on decimal conversion was set up in December 1965. The report of the Working Party went to the House of Representatives and was approved on December 9, 1967. That was 20 months ago. Since then, all the planning had to be done, he said.

Mr. Brown spoke of the many aspects of the operation which he said had to be carried out rather like a military exercise: “looking at the troops available and assessing the enemy.” He spoke, too, of the other considerations which had to be taken into account: the questions of notes and coins, their designs, and so on. There were also the logistics of knowing when to order supplies of the new notes and coins, how to arrange for their storage and later distribution, to ensure that the whole operation worked smoothly and efficiently.

Storage of the coins was a particular problem, he said. Between £40 million and £50 million coins, had to be distributed and that was a real cause of worry.

Mr. Brown drew a laugh when he said: “We called on the Army to help us, and they helped us, up to a point.” After the laughter died down, he added seriously: “We lost £300 but we could have lost £300,000.”

Turning to the machine conversion programme, he expressed “deep thanks” to Mr. George W. Brown, of New Zealand, who has given great advice and assistance in the programme. This was one area in which the Bank of Jamaica admitted quite frankly, that it knew nothing, he said.

“But apart from Mr. Brown’s massive assistance, I am also proud of the fact that the entire planning and execution of this machine conversion programme was done by Jamaican people, people who knew nothing about converting accounting machines and other business machines before and were doing it for the first time in this programme,” he said.

All ready

Everything had gone well in the campaign. He reported that a survey taken by the Bank of Jamaica that morning showed that all the banks in Jamaica, as a result of pre-planning, had been ready that morning to handle the new currency. The Bank of Jamaica itself had been ready from Saturday. Other aspects of the campaign were commented on by Mr. Brown: the work done by the shopkeepers themselves to prepare for C-Day, the seminars held for all types of persons and organisations.

A vast amount of work had to be done within the government itself, not only with regards to PAYE, stamp duties and Custom duties, but even the changing of the government account themselves. There was also a legislative programme. Several laws in Jamaica had to be examined to see whether there were any special amendments in respects of decimalization.

Mr. Brown mentioned that assistance had been given to the Cayman and the Turks Islands, who also were converting their currency from pounds, shillings and pence to dollars and cents. Help has been given to them in their conversion programme proper and in their public education programme.

Price Control

There were problems of price control, in which the Government had to make sure that there was no upward movement of price because of decimalization. There was the problem of the relation between the United States dollar and the Jamaican dollar: arrangements had to be made to see that that relationship worked smoothly.

Finally, Mr. Brown remarked that when the decimal currency conversion programme was announced, the Government was faced with either setting up a new bureaucracy to carry through this programme or to hope that it could be carried out with efficiency and economy by a small staff.

The task was given to the Bank of Jamaica and the Bank took it on, with a number of dedicated people. The number of permanent persons who carried out this programme at no time exceeded nine persons, supplemented, of course, by a vast army of volunteer workers.

“The loyalty and dedication of these persons is responsible for the success of the programme. A great debt of gratitude is due to these people,” he said.

Speeches were also made at the Luncheon by Mr. David Coore, Shadow Minister of Finance in the Opposition People’s National Party and by Mr. Theodore Sealy, editor of the Gleaner.

Most difficult

Mr. Coore said he was very happy indeed to have the honour to associate the Opposition with the conversion programme and to associate the Opposition with “the congratulations that have been deservedly given to all those who have worked so hard and so effectively to put this programme across.”

“I agree with the Minister that the most difficult part of the exercise is the communication aspect. The job of educating the broad mass of the people was a real one, and I do feel that a real job has been done.

“Certainly, everything possible has been done and done well, and I don’t think that the whole exercise up to this point could have gone so smoothly and run so efficiently”.

“The whole operation deserves congratulation and I am very pleased to associate the Opposition with it, he said. Speaking on behalf of the communications media, Mr. Sealy said they were very happy to have been given the opportunity to help in the programme, which had been one of the finest examples of organization that the media could remember taking place on a national occasion.

“There has been nothing finer done in the country than the work that has been done in this programme and we are proud to have been of some small assistance”, he said. 

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