Company scrip

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Numismatics

Numismatic terminology

Currency Coins, Banknotes, Forgery Circulating currencies Community currencies Company scrip, LETS, Time dollars Fictional currencies

Ancient currencies Greek, Roman, Byzantine Medieval currencies Modern currencies Africa, The Americas, Europe, Asia, Oceania

Production Mint, Designers Coining, Milling, Hammering

Exonumia Credit cards, Medals, Tokens Notaphily Banknotes Scripophily Stocks, Bonds

Company scrip is currency issued in certain industries to pay workers. Such scrip can only be exchanged by wage-earners in company stores owned by their employers and often charging inflated prices. In the UK, such systems have been formally outlawed under Truck Acts.

In the United States, mining and logging camps were typically created, owned and operated by a single company. These remote locations were cash poor and workers had very little choice but to purchase goods at a company store. With this economic monopoly, the employer could place enormous markups on goods, making workers completely dependent on the company, thus enforcing employee "loyalty".

[edit] See also

• Truck system