- published: 18 Jan 2016
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£sd (sometimes pronounced, and occasionally written, L.s.d.) was the popular name for the pre-decimal currencies (sterling) used in the Kingdom of England, later the United Kingdom, and ultimately in much of the British Empire. This abbreviation meant "pounds, shillings, and pence", and was usually pronounced that way, having originated from the Latin words "librae, solidi, denarii". Under this system, there were 12 pence in a shilling and 20 shillings, or 240 pence, in a pound. A penny was, until 1960, further subdivided into four farthings.
The advantage of such a system was its use in mental arithmetic, as it afforded many factors and hence fractions of a pound such as tenths, eighths, sixths and even sevenths if the guinea of 21 shillings was used. When dealing with items in dozens, multiplication and division are straightforward; for example, if a dozen eggs cost four shillings, then each egg was four pence.
As countries became independent from the UK, some (like the United States) abandoned the £sd system quickly, while others (like Australia) retained it almost as long as Britain itself. Still others, notably Ireland, decimalised only when Britain did. Britain abandoned the old penny on Decimal Day, 15 February 1971, when one pound sterling became divided into 100 new pence. The shilling was replaced by a 5 pence coin worth one twentieth of a pound.
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through every station, through every town
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from Heathrow to Hounslow, from the Eastern Block to France
Europe is our playground, London is our town
so run with me baby now
Run with me baby, let your hair down
through every station, through every town
run with me baby, let's make a stand
from peepshow to disco, from Spain to Camber Sands
Europe is our playground, London is our town