Word: scrip
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Dates: during 1930-1939
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...could the New York banks stand the strain? One answer to that question was suggested when the bankers summoned to their presence a short, stocky athletic man of 64, Daniel Ellis Woodhull, president of American Bank Note Co. The bankers asked him to print $250,000,000 worth of scrip for the New York Clearing House to use in case they needed...
...night on the train on top of several previous nights of worry straggled up the steps-prominent bankers but the same group who were familiar in the Treasury-Department during the late Hoover regime. Of special note was George W. Davison of Central Hanover Bank who fathered the great scrip issue of 1907. Standing by from the Hoover regime were Eugene Meyer, Ogden Mills, Under-Secretary Ballantine, Assistant Secretary Jim Douglas...
...Power for the Secretary to direct Clearing Houses to issue scrip...
...Scrip. President Roosevelt's proclamation pointed directly to the general use of scrip as a means of exchange. Secretary of the Treasury Woodin intimated that the Government would issue no national scrip but would leave each financial area to develop its own system under Federal supervision. Bankers worked night & day planning to issue this money substitute while presses whirled out millions of oblongs of paper which citizens would be asked to accept in lieu of cash...
...Broadly, scrip is any evidence of assets. The specific kind of scrip in prospect was Clearing House certificates issued against bank deposits. The procedure...