Company scrip
From Wikipedia, the free encyclopedia
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.
Image:Coal scrip.jpg
Scrip minted by Olga Coal Company, Coalwood, WV
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".
