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Private Production of Scrip-Money in the Isolated Community

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  • Timberlake, Richard H

Abstract

This paper examines the appearance of one type of privately-produced currency, which had the generic label "scrip." This money appeared at widely different times and places in the United States between 1820 and 1940 in spite of federal laws prohibiting its issue. The most sophistic ated and best developed example of scrip seems to have occurred in th e coal mining regions of Appalachia, especially in West Virginia. Thi s experience and its implications for monetary behavior are examined here. Copyright 1987 by Ohio State University Press.

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  • Timberlake, Richard H, 1987. "Private Production of Scrip-Money in the Isolated Community," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 19(4), pages 437-447, November.
    • Handle: RePEc:mcb:jmoncb:v:19:y:1987:i:4:p:437-47
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    Cited by:

    1. James Angel & Douglas McCabe, 2015. "The Ethics of Payments: Paper, Plastic, or Bitcoin?," Journal of Business Ethics, Springer, vol. 132(3), pages 603-611, December.
    2. Rösl, Gerhard, 2006. "Regionalwährungen in Deutschland: Lokale Konkurrenz für den Euro?," Discussion Paper Series 1: Economic Studies 2006,43, Deutsche Bundesbank.
    3. Gerhard Rösl & Franz Seitz & Karl-Heinz Tödter, 2019. "The Cost of Overcoming the Zero Lower-Bound: A Welfare Analysis," Economies, MDPI, vol. 7(3), pages 1-18, July.
    4. Nina Stępnicka & Grzegorz Zimon & Dariusz Brzozowiec, 2021. "The Complementary Currency Zielony in Poland and Its Importance for the Development of Local Economy Entities during the COVID-19 Pandemic Lockdown," Sustainability, MDPI, vol. 13(16), pages 1-26, August.
    5. Elaine Tan, 2011. "Scrip as private money, monetary monopoly, and the rent‐seeking state in Britain," Economic History Review, Economic History Society, vol. 64(1), pages 237-255, February.
    6. Malavika Nair & Rahimat Emozozo, 2018. "Electronic Currency In Africa: M†Pesa As Private Inside Money," Economic Affairs, Wiley Blackwell, vol. 38(2), pages 197-206, June.

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