Company scrip

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Company Scripts are scrip (replacement for tenders or official currency issued by government) issued by the company to pay its employees. It can only be exchanged at the employer's company's stores. In the UK, such trucking systems have long been officially banned under the Trucking Act.

In the United States, mining and logging are usually made, owned and operated by one company. These locations, some quite remote, often poor money; even on the not, the paid worker with scrip has no choice but to buy goods at the company store, because the currency exchange, if any, will spend part of the value through exchange fees. With this economic monopoly, entrepreneurs can place a large markup on goods, making workers dependent on firms, thus enforcing employee "loyalty".

Video Company scrip

Wood company script

In 19th century United States forest areas, money is often hard to come by. This is especially true in timber camps, where workers are generally paid for in company-issued scrips rather than government-issued currencies.

In Wisconsin, for example, forest products and timber companies are specifically excluded from state laws that require employers to pay workers wages in cash. Timber and timber companies often pay their workers in scrips that can be redeemed at corporate stores. The company-managed stores serve as convenience for workers and their families, but also allow companies to take back some of their labor costs. In certain cases, entrepreneurs include contract terms that require employees to undermine the company's store. Employees who want to turn their scrip into cash generally have to do it at a discount.

Scrip wood companies can be exchanged for wood and other merchandise. According to the Wisconsin Historical Society, such an option may attract new settlers in the region, who work in winter wood camps to earn enough money to build a farm. Taking some of their wages in wood may have helped them build a much-needed house or warehouse.

Maps Company scrip

Scrip coal company

Coal Script means "token or paper with the value of money issued to workers as advances on the wages of coal companies or designated representatives". Thus, the coal scrip can only be used in a particular region or coal city of the named company. Since coal scrip is used in the context of a coal city, where there is usually no other retail company in a particular remote location, the employee who uses it can only redeem its value at a particular location. Since there are no other retail companies, this is a monopoly.

The country musician Merle Travis made reference to the coal scrip in the song, "Sixteen Tons" on the album People's Song from the Hills and made famous by Tennessee Ernie Ford.

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Modern practices

This practice has been documented recently in 2008. On September 4, 2008, the Mexican Supreme Court ruled that Wal-Mart de Mexico, a subsidiary of Wal-Mart in Mexico, had to stop paying some of its employees with vouchers that could be redeemed only at the Store Wal-Mart.

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See also

• Truck system
• Private currency
• Disney Dollar

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References

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External links

• Harte, C.J. "Coal mining coal miners to meet". Middlesboro Daily News . Retrieved July 21, 2012 .
• Cawood, Steve, former President of the National Script Collector Association, Script Definition

Source of the article : Wikipedia