Thursday, January 1, 2009

Scrip

California is beginning to issue scrip rather than make payments. It will be a clear indicator of confidence, or lack thereof, to see whether merchants will accept scrip for payment for purchases - and, if so, at what discount.
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1 comment:

Robbie Seal said...

My family's experience with scrip was when the coal company would pay its workers in scrip, and only the company store accepted scrip, at an extremely unfair exchange rate. They then issued credit to the workers, since the scrip was never enough to meet their needs. If a worker tried to quit the mine to go elsewhere, the company store called the sherrif on the debtor and he was put in jail while his family was removed from company property... their home. Forgive me if I do not support the use of scrip.

January 4, 2009 at 5:12 PM

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