Brand Currency Transcript For Free

Coal scrip was deemed unconstitutional if non-transferable in the early twentieth century, but continued to exist in Kentucky and West Virginia until officially outlawed by Congress in 1967.

Refusing to draw scrip as pay for working in the mines, often meant early discharge. All that remains of most of these coal camps are these and memories of those who survived it. *The above text is from a brochure received with a scrip purchased. Note: The practice of issuing scrip was stopped in the 1950s.

Therefore, not only were workers being exploited for not receiving their fair wages in cash but they were also exploited as profits by the company store. During the Great Depression, scrips became a widely used form of wages due to the lack of money circulation.

Although paying wages in scrip was prohibited in 1938, they are still used in today's world. In certain companies, scrips may come in the form of rewards points or coupons. For example, Canadian retailer Canadian Tire issues its own form of currency?Canadian Tire?money that looks like real currency but isn't.

Coal scrip has become a very hot collectible and many of the most in demand pieces are from Buchanan County. Issued most often in values of one cent, 10 cents, 25 cents, 50 cents and $1, scrip were s given to employees as an advancement of their wages.

In the U.S., payment of wages in scrip became illegal under the Fair Labor Standards Act of 1938. The expression scrip is also used in the stock market where companies can sometimes pay dividends in the form of additional shares/stock rather than in money. It is also a written document that acknowledges debt.

In the United States, payment in scrip became illegal in 1938 as part of the Fair Labor Standards Act.