POCKET GUIDE TO AUSTRALIAN BANKNOTES 2 Change & Stability AUSTRALIAN BANKNOTES FROM THE 1930s TO 1950s
The Prospect of the Future
In this Pocket Guide
By the end of the 1950s, measures were in place to create the nation's independent central bank. The central banking functions of the Commonwealth Bank had evolved since its foundation in 1911, and these functions were separated from its commercial activities with the Reserve Bank Act 1959. The Reserve Bank of Australia began its operations on 14 January 1960 with the objectives of maintaining the stability of the country's currency, full employment and the economic prosperity and welfare of its people.
Dr HC Coombs became the first Governor of the Reserve Bank. Among other responsibilities, he oversaw the conversion of Australia's currency from denominations of pounds, shillings and pence to decimal currency. The new banknotes were launched on 14 February 1966 with a vibrant scheme for the new banknotes, the subject of the next Pocket Guide.
Dr HC Coombs (left) with one of the new £1 banknotes containing his signature, accompanied by John Dunne and Russell Weber, 1954.
National Archives of Australia, M2153, 11/5.Change & Stability
Explore the series of Pocket Guides
INTRO
Currency Crises
An Introduction1
Australian Panorama
THE NATION'S FIRST BANKNOTES2
Change & Stability
AUSTRALIAN BANKNOTES OF THE 1930s AND 1950s3
A Decimal Reformation
INTRODUCTION OF DECIMAL CURRENCY TO AUSTRALIA4
The Reinvention of Banknotes
THE AUSTRALIAN INNOVATION 0F POLYMER BANKNOTES5
