The Effects of the Metric The Effects of the Metric System on the United System on the United

KingdomKingdom

By Alex HortonBy Alex Horton

Topic IndexTopic Index

The United Kingdom before 1971The United Kingdom before 1971 Moving to the Metric UnitMoving to the Metric Unit The effects on the countryThe effects on the country The Currency in the UK todayThe Currency in the UK today The EuroThe Euro The effects of the UK currencyThe effects of the UK currency

An understandingAn understanding

The United Kingdom and the United States, though similar, are in many more ways different.

The Average middle classed home can be bought for close to or under £100,000

The average homeowner brings in

about £30,000- £40,000

The lifestyles of the average family is

Also much more different.

Timeline of United Kingdoms economyTimeline of United Kingdoms economy By the time of Queen Victoria's death in 1901, other nations, including the By the time of Queen Victoria's death in 1901, other nations, including the

United States and Germany, had developed their own industries; the United United States and Germany, had developed their own industries; the United Kingdom’s comparative economic advantage had lessened, and the ambitions Kingdom’s comparative economic advantage had lessened, and the ambitions of its rivals had grown. The losses and destruction of World War 1, the of its rivals had grown. The losses and destruction of World War 1, the depression in its aftermath during the 1930’s, and decades of relatively slow depression in its aftermath during the 1930’s, and decades of relatively slow growth eroded the United Kingdoms preeminent international position of the growth eroded the United Kingdoms preeminent international position of the previous century. previous century.

The Great Depression hit the nation especially harshly, as it had still not fully The Great Depression hit the nation especially harshly, as it had still not fully recovered from the war. See also the Great Depression in the United Kingdom. recovered from the war. See also the Great Depression in the United Kingdom.

WW2 again saw a great deal of destruction to British infrastructure, the years WW2 again saw a great deal of destruction to British infrastructure, the years after the war also saw Britain lose almost all of her remaining colonies as the after the war also saw Britain lose almost all of her remaining colonies as the empire dissolved. In UK general election, 1945 the Labour Party was elected empire dissolved. In UK general election, 1945 the Labour Party was elected which introduced sweeping reforms of the British economy. which introduced sweeping reforms of the British economy.

Taxes skyrocketed, industries were nationalized, and elaborate welfare Taxes skyrocketed, industries were nationalized, and elaborate welfare state with health, pensions, and social security was created. state with health, pensions, and social security was created.

Timeline continuedTimeline continued

The next years saw some of the most rapid growth The next years saw some of the most rapid growth Britain had ever experienced, recovering from the Britain had ever experienced, recovering from the devastation of the Second World War and then devastation of the Second World War and then expanding rapidly past the previous size of the economy.expanding rapidly past the previous size of the economy.

By the end of the 1960s this growth began to slow, and By the end of the 1960s this growth began to slow, and

by the 1970s Britain entered a long running period of by the 1970s Britain entered a long running period of relative economic malaise. This lead to the election of relative economic malaise. This lead to the election of Margaret Thatcher, who cut back severely on the Margaret Thatcher, who cut back severely on the government's role in the economy and weakened labour government's role in the economy and weakened labour unions. unions.

The United Kingdom before 1971The United Kingdom before 1971

Before 1971 the coins used were half-penny, Before 1971 the coins used were half-penny, penny, three pence coin, six pence coin, shilling, penny, three pence coin, six pence coin, shilling, two shilling piece, two shilling and sixpence coin two shilling piece, two shilling and sixpence coin (half-crown), ten shilling note and a pound note (half-crown), ten shilling note and a pound note

Particular coins began to form nicknames that Particular coins began to form nicknames that would go onto become their known nameswould go onto become their known names

To make things easier, these coins were then To make things easier, these coins were then organized into £, s, and d so they would be organized into £, s, and d so they would be easier to understand. easier to understand.

The love of the currencyThe love of the currency Phrases became popular about currency such as;Phrases became popular about currency such as;

'You look as if you'd lost a shilling and found sixpence.' and 'A penny for your thoughts‘'You look as if you'd lost a shilling and found sixpence.' and 'A penny for your thoughts‘

Not only phrases, but songs became popular amongst the British public, with some Not only phrases, but songs became popular amongst the British public, with some still being sung today by people of all ages.still being sung today by people of all ages.

SixpenceSixpence ChristmasChristmas I've got sixpence,I've got sixpence, Christmas is coming Christmas is comingA jolly jolly sixpence,A jolly jolly sixpence, The goose is getting fat The goose is getting fatI've got sixpence to last me all my lifeI've got sixpence to last me all my life Please put a penny in the old mans hat. Please put a penny in the old mans hat.I've got tu'pence to lendI've got tu'pence to lend If you haven't got a penny, a ha'penny will do. If you haven't got a penny, a ha'penny will do.

And tu'pence to spendAnd tu'pence to spend If you haven't got a ha'penny, a farthing will If you haven't got a ha'penny, a farthing will

do. do. And tu'pence to send home to my wife.And tu'pence to send home to my wife. If you haven't got a farthing, then God bless If you haven't got a farthing, then God bless

you.you.

The need for change?The need for change?

Easier to understand for the rest of the Easier to understand for the rest of the world.world.

The NRC.The NRC.

A chance to move forward, and to improve A chance to move forward, and to improve our metric system to agree more with the our metric system to agree more with the rest of the worlds.rest of the worlds.

The reaction by the publicThe reaction by the public

What is this new currency?What is this new currency?

TV commercialsTV commercials

Government helpGovernment help

Old currencyOld currency

Victorian Crown

Thrift Thruppence

Pennies dating back from Victoria to Elizabeth II

5 pence worth in old pennies Victorian Crown

Value of CoinsValue of Coins 4 farthings= 1 penny (1d)4 farthings= 1 penny (1d)

2 ha'pence= 1 penny (1d)2 ha'pence= 1 penny (1d)

3 pence= 1 thruppence(3d)3 pence= 1 thruppence(3d)

6 pence= 1 sixpence (6d)6 pence= 1 sixpence (6d)

12 pence= 1 shilling (1s)12 pence= 1 shilling (1s)

2 shillings= 1 florin (2s)2 shillings= 1 florin (2s)

2 shillings and 6 pence= 1 half crown(2s 6d)2 shillings and 6 pence= 1 half crown(2s 6d)

Learning earlyLearning early

So that people in the United Kingdom would So that people in the United Kingdom would understand the metric system that was being understand the metric system that was being used, they would be taught in school tirelessly.used, they would be taught in school tirelessly.

My father tells me how ‘it would get so repetitive. My father tells me how ‘it would get so repetitive. Our teachers would relate almost everything that Our teachers would relate almost everything that we would do to the metric system, and we would we would do to the metric system, and we would do continuous exercises involving them, we do continuous exercises involving them, we were each given as an aid our own conversion were each given as an aid our own conversion table. The following slide shows a typical table table. The following slide shows a typical table used in school. used in school.

The effects of the metric changeThe effects of the metric change The Metric system changed the way people lived The Metric system changed the way people lived

and bought goods when it first came out.and bought goods when it first came out. Various items went up in cost and this caused a Various items went up in cost and this caused a

lot of controversy.lot of controversy. People went out before the change and bought People went out before the change and bought

in excess in fear of losing money.in excess in fear of losing money. The fear caused many companies at first to lose The fear caused many companies at first to lose

money and this caused concern.money and this caused concern. As time went on however, people began to As time went on however, people began to

accept the new change and use it to their accept the new change and use it to their advantage advantage

The currency in the UK todayThe currency in the UK today

Currency today is strong as it ever has Currency today is strong as it ever has been, and continues to do well in society, been, and continues to do well in society, despite fears and moments of inflation at despite fears and moments of inflation at times.times.

The coins today include the 10, 20, 50, 1 The coins today include the 10, 20, 50, 1 and 2 pound coins, and in notes they are and 2 pound coins, and in notes they are 5, 10, 20, 50 pound notes. 5, 10, 20, 50 pound notes.

It is agreed upon between all countries in It is agreed upon between all countries in the United Kingdom.the United Kingdom.

The currency continuedThe currency continued

The relatively good economic performance has The relatively good economic performance has complicated the Blair government’s efforts to complicated the Blair government’s efforts to make a case for Britain to leave the pound make a case for Britain to leave the pound sterling and join the euro.sterling and join the euro.

The ‘5 economic tests’The ‘5 economic tests’

The currency today reflects all of the United The currency today reflects all of the United Kingdom, with the culture and history of each Kingdom, with the culture and history of each country being included on the money. country being included on the money.

The currency todayThe currency today

50 Pence20 Pence 2 Pence

1 Pound 5 Pence

The PoundThe Pound After the change in 1971 the pound became After the change in 1971 the pound became

the coin of Britain. the coin of Britain. In order to distinguish the unit of currency In order to distinguish the unit of currency

from the unit of mass, and others, it is often from the unit of mass, and others, it is often referred to as pound sterling, sterling, or the referred to as pound sterling, sterling, or the slang term ‘quid’. slang term ‘quid’.

In modern times the In modern times the pound has replaced the pound has replaced the penny as the basic unitpenny as the basic unit of currency. of currency.

The introduction of the EuroThe introduction of the Euro

Adopted on January 1, 1999 by 11 Adopted on January 1, 1999 by 11 Member States.Member States.

Mid December, 2001 Mid December, 2001

June 30, 2002 June 30, 2002

Euro vs. Pound SterlingEuro vs. Pound Sterling

It is a currency used all It is a currency used all across Europe. across Europe.

Britain likes being BritainBritain likes being Britain

Is a means of uniting the Is a means of uniting the countries of Europecountries of Europe

The Pound is a very The Pound is a very strong coinstrong coin

No more conversions as No more conversions as you travel from country you travel from country to countryto country

Different language, Different language, different countries, different countries, different currencydifferent currency

Reasons for the poundReasons for the Euro

Exchange ratesExchange rates

£ per US$1£ per US$1 0.5495 (August 2004) 0.5495 (August 2004)

   2004 2004 0.56010.5601  2003 2003 0.62080.6208  2002 2002 0.68720.6872  2001 2001 0.66990.6699   2000 2000 0.61820.6182   1999 1999 0.60870.6087   1998 1998 0.60710.6071   1997 1997 0.58410.5841   1996 1996 0.64640.6464  19951995 0.63960.6396

£ per EU€1£ per EU€1  0.6597 (August 2004)  0.6597 (August 2004)

2004 2004 0.70480.7048  2003 2003 0.65230.6523  2002 2002 0.61280.6128  2001 2001 0.63110.6311  2000 2000 0.62480.6248  19991999 0.70380.7038

The effects of the UK currency The effects of the UK currency todaytoday

Service industries, particularly banking, in Service industries, particularly banking, in insurance and business services, account by far insurance and business services, account by far for the largest proportion of G.D.P.for the largest proportion of G.D.P.

G.D.P in the UK today is almost G.D.P in the UK today is almost ££1.53 trillion.1.53 trillion.

However unemployment is 4.8% and exports However unemployment is 4.8% and exports and less then imports ( exports = $271 billion, and less then imports ( exports = $271 billion, imports = $305.9 billion. imports = $305.9 billion.

Questions?Questions?