Word: bartering
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Dates: during 1930-1939
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During its brief career, Polity has presented a study of tariffs and world economics by Professor W. Y. Elliott, and a discussion by John Farnham on the government measure forming cooperative and self-help associations for the barter of goods and services. The late unpleasantness involving Mr. Morgan has been capably treated by Ernest McDougall, and C. W. Eliot, 2d, reviewed with grateful incision the current thought on national planning. From these examples it may be inferred that Polity does not lack its quota of arresting names, and, more important, that its interests are both diverse and contemporary...
...Barter blossomed. In Ashtabula a newspaper offered to print free advertisements of goods for swapping. Two commodity exchanges in Milwaukee found long lines of would-be customers waiting on their doorsteps the morning after the Wisconsin holiday went into effect. A wrestler signed a contract for a match with any opponent accepting as payment a can of tomatoes and a peck of potatoes. In Manhattan, admission to a Golden Gloves amateur boxing tournament could be had for cigars, combs, soap, chisels, groceries, kettles-anything worth 50?, plus 5? cash for taxes...
Various expedients have been proposed to thwart the depression, most of them involving some more or less temporary modification of the present economic system. Such are the various arrangements of barter, and Howard Scott's contribution, Technocracy. Certain Senators and other men in public life have recently added another proposition to the list: namely, an inflation of currency. The issuance of currency which is not redeemable in gold, in a nation which is not redeemable in gold, in a nation which is on the gold standard, is what is ordinarily meant by inflation. This is what the advocates...
...joke, a puzzler. But in several places throughout the land businessmen were seriously experimenting with new kinds of money to lubricate their local credit systems. In 140 communities in 29 states, 1.000,000 citizens were solving their problems notably through the use of scrip and the foundation of barter associations. Examples...
...Barter. By far the most completely organized and successful barter group now operating is the Natural Development Association of Salt Lake City. It was organized by Benjamin B. Stringham, a realtor, during the harvest time of 1931 when city laborers needed food but had no money to buy it and farmers needed hands but had no money to pay them. The laborers worked for farm produce. The N. D. A. now operates an oil refinery, two canning factories, a tannery, a coal mine. It has a two-story headquarters at Salt Lake City in which it maintains a produce...