Company scrip is scrip (a substitute for government-issued legal tender or currency) issued by a company to pay its employees. It can only be exchanged in company stores owned by the employers.[1][2][3] In the United Kingdom, such truck systems have long been formally outlawed under the Truck Acts. In the United States, payment in scrip became illegal in 1938 as part of the Fair Labor Standards Act.[4]
In the United States, mining and logging camps were typically created, owned and operated by a single company.[5] These locations, some quite remote, were often cash poor;[1][2][3] even in ones that were not, workers paid in scrip had little choice but to purchase goods at a company store, as exchange into currency, if even available, would exhaust some of the value via the exchange fee. With this economic monopoly, the employer could place large markups on goods, making workers dependent on the company, thus enforcing employee "loyalty".[5][6] While scrip was not exclusive to the coal industry, an estimated 75 percent of all scrip used was by coal companies in Kentucky, Virginia, and West Virginia.[7] Because of this, many derived nicknames for the type of currency originated in the Appalachian mining communities, such as "Flickers," "Clackers," and "Dugaloos."[8]
Tokens were made out of a variety of metals, including brass, copper, zinc, and nickel.[8] There were additionally "compressed fibre" coins produced during World War II in an effort to conserve metals for wartime production.[8]
^ abGinsburg, David (2006). "Chapter 2: How Gold Coins Circulated in 19th Century America". In Winter, Douglas (ed.). Gold Coins of the New Orleans Mint: 1838-1909. Zyrus Press. ISBN 9780974237169.
^ ab
Taylor, George Rogers (1951). The Transportation Revolution, 1815–1860. New York, Toronto: Rinehart & Co. pp. 133, 331–4. ISBN 978-0-87332-101-3.
^ ab"Lumber Company Scrip". Wisconsin Historical Society. January 24, 2008.
^"29 CFR § 531.34 - Payment in scrip or similar medium not authorized". LII / Legal Information Institute.
^ abGreen, Hardy (2010). The Company Town: The Industrial Edens and Satanic Mills That Shaped the American Economy. Basic Books. ISBN 9780465022649.
^Gibson, Ella (August 1, 2014). "Episode 25 Company Scrip". A History of Central Florida Podcast. Retrieved January 27, 2016.
^"Scrip - Coal Company Tokens | Company Store Scrip". 2014-06-13. Retrieved 2020-10-03.
^ abcWilson, John Freddie (2006). "Coal Mine Scrip". sites.rootsweb.com. Archived from the original on 2020-11-11. Retrieved 2021-06-17.
Companyscrip is scrip (a substitute for government-issued legal tender or currency) issued by a company to pay its employees. It can only be exchanged...
voyages, or occupied countries in wartime. Besides companyscrip, other forms of scrip include land scrip, vouchers, token coins such as subway tokens, IOUs...
nearby. Employee-only company stores often accept scrip or non-cash vouchers issued by the company in advance of periodic cash paychecks, and gives credit...
Scripped was an online screenplay services company offering three services: script writing, script registration, and script coverage. Scripped did not...
shortages of official money. Tokens were also used as companyscrip to pay labor for use only in company stores owned by the employers. The collecting of trade...
Historically, pseudo-currencies have also included companyscrip, a form of wages that could only be exchanged in company stores owned by the employers. Modern token...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...
methods to make their games easily discoverable. This was likened to companyscrip. In a discussion with Axios, Roblox's chief product officer (CPO) Manuel...
in addition, if they met certain sales targets, they could also earn companyscrip, consisting of green and brown vouchers, referred to as "greenies" and...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...
Exonumia are numismatic items (such as tokens, medals, or scrip) other than coins and paper money. This includes "Good For" tokens, badges, counterstamped...
earnings. For example, credit or companyscrip might be usable only for the purchase of goods at a monopolistic company-owned store, at which prices are...
used by non-state entities, like the Sovereign Military Order of Malta, scrips used by private entities, and other private, virtual, and alternative currencies...
workers the scrip, which was redeemable at the company store on the grounds, as well as accepted as payment by businesses in the local area. The scrip was issued...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...
both paper coupons introduced in 1958 and used in Canadian Tire stores as scrip, and since 2012 in a digital form introduced as Canadian Tire Money Advantage...
already held. A scrip issue is usually done when a company does not have sufficient liquidity to pay a cash dividend. A company declaring a scrip dividend gives...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...
shares) consist of all the shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...
stock document will be found that still has value as stock in a successor company. Awards for numismatics Glossary of numismatics Numismatic associations...
polymer (or plastic) banknotes; these were printed by the American Banknote Company and developed by DuPont. These early plastic notes were plagued with issues...
issued by the largest, most creditworthy banks were widely accepted. The scrip of smaller, lesser-known institutions circulated locally. Farther from home...
in part upon the recommendations of the prior graders. Depending on the company, various descriptors may be added, such as Full Bands for Mercury dimes...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...
Africa Asia Europe North America South America Oceania Local currencies Companyscrip LETS Time dollars Fictional currencies Proposed currencies History of...