XN000022-1979-04-27 — Page 4

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FRIDAY, APRIL 27, 1979

GOVERNMENT ACCOUNTS FOR JANUARY 1979

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THERE WAS A SURPLUS OF $418.8 MILLION IN THE GOVERNMENT ACCOUNTS FOR JANUARY 1979 COMPARED WITH A $743.6 MILLION SURPLUS IN THE SAME MONTH LAST YEAR.

THIS HAS RESULTED IN AN ACCUMULATED SURPLUS OF $1,276.4 MILLION FOR THE FIRST 10 MONTHS OF THE 1978-79 FINANCIAL YEAR, COMPARED WITH A SURPLUS OF $956.6 MILLION FOR THE SAME PERIOD IN 1977-78.

TOTAL EXPENDITURE IN JANUARY 1979, AT $1,084,8 MILLION,

WAS $251,2 MILLION MORE THAN IN JANUARY LAST YEAR,

TOTAL REVENUE AND RECEIPTS, AT $1,503.6 MILLION, WERE $73.6 MILLION LESS THAN FOR THE SAME MONTH IN 1978.

'SILVER 50-CENT COINS WILL CEASE TO BE LEGAL TENDER

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ALL 50-CENT CUPRO-NICKEL COINS WILL BE DEMONETISED AND WILL THEREFORE CEASE TO BE LEGAL TENDER FROM OCTOBER 1, 1979, THE GOVERNMENT GAZETTE ANNOUNCED TODAY (FRIDAY).

THIS MEANS THE LEGAL OBLIGATION TO ACCEPT THESE COINS IN SATISFACTION OF DEBTS FOR AMOUNTS UP TO TWO DOLLARS IS REMOVED AS FROM OCTOBER 1.

BUT ANY PERSON OWNING ANY OF THESE SILVER COLOURED COINS WILL BE ABLE TO OBTAIN AN EQUIVALENT SUM OF CURRENT COINS OR NOTES WHEN THEY ARE PRESENTED AT A BANK.

A NEW SMALLER BRASS COLOURED 50-CENT COIN, MADE OF NICKEL-BRASS, WAS INTRODUCED ON AUGUST 15, 1977, AND SINCE THEN THE OLD CUPRO-NICKEL 50-CENT COINS WHICH HAVE BEEN LEGAL TENDER SINCE JULY 6, 1951, HAVE BEEN GRADUALLY WITHDRAWN FROM CIRCULATION,

THE DETAILED SPECIFICATIONS OF THE TWO COINS ARE AS FOLLOWS

TYPE OF

ALLOY

DIAMETER

(MM)

WEIGHT EDGE THICKNESS SHAPE

(GRAMS)

EDGE

(MM)

CUPRO- NICKEL

23.60

5.832

1.80

ROUND

MILLED

NICKEL-

BRASS

22.50

4.92

1.72

ROUND

MILLED

/AS AT MARCH