Word: scrip
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...above story last week as a 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...
Eirma. In Evanston, Ill. city employes received their pay in the form of "Eirma" money, named from the initials of the Evanston Independent Retail Merchants' Association. Merchants agreed to accept the paper at face value. Every time a scrip dollar changes hands, the receiver sticks on it a 2? stamp, bought from the Merchants' Association. When the back of an Eirma bill has been covered with 50 stamps, it can be redeemed in U. S. coin. Merchants who have bought stamps will be credited with the amount in tax anticipation warrants. Milwaukee and Chicago pondered following Evanston...
...Scrip. Three months ago at Hawarden, Iowa, 300 red-white-&-green certificates were put in circulation by the city. The Hawarden scrip was issued along lines similar to that of Evanston, but it had 36 places on the back to stick 3? stamps, thus assuring the city an 8? profit per dollar on redemption...
Anaheim, one of the oldest towns in California, tried issuing scrip last winter. The amateur financiers of Anaheim used 4? stamps on their currency, followed the Evanston plan in the main but neglected one step: making a tax certificate refund to merchants. Result: Puzzled merchants found themselves accepting scrip, buying stamps, but not getting anything back to pay for merchandise sold. The plan was actually a 4% sales...
...real cash, bringing their salaries up to April 1. Last fortnight the Chicago Herald & Examiner obtained from Germany by telephoto a letter from junketing Mayor Anton Cermak authorizing the issuance of $6,750,000 of tax anticipation warrants, some of which were paid to teachers who had refused city "scrip" last summer. Many Chicago merchants and landlords accept tax warrants...