Scrip as private money, monetary monopoly, and the rent‐seeking state in Britain
Bibliographic Data
| ID | 20649840 |
|---|---|
| Authors | Elaine S Tan (Royal Holloway University of London, corresponding author), Elaine Tan (0000-0002-2302-5222) |
| Year | 2011 |
| Volume | 64 |
| Issue | 1 |
| Pages | 237-255 |
| Publication date | 2011-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic History Review (JOURNAL) |
| Journal identifiers | ISSN: 0013-0117 • E-ISSN: 1468-0289 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-0289.2010.00549.x |
| OpenAlex | W1494180359 |
| Language | EN |
| Citations received | 2 |
| References cited | 23 |
Scrip—promissory notes payable in goods at company stores—was issued by employers to pay workers, and was an important component of British money during the industrial revolution. As late as the third quarter of the nineteenth century, scrip issued by coal firms, which represented the foregone demand for official currency, was at least 9 to 24 per cent of the value of English country or Scottish banknote issues. In some areas, scrip was 38 per cent of the total wages paid. The state's suppression of this private currency to defend its seigniorage rents was in part the motivation behind the prohibition of the truck system in 1831
Accounts payable · Business · Currency · Economic rent · Economics · Labour economics · Market economy · Monetary economics · Monopoly · Payment · Quarter (Canadian coin) · Seigniorage · State (computer science) · Finance · Historical Economic and Social Studies · Political and Economic history of UK and US
Soft Coal, Hard Choices
The Condition of the Working-Class in England in 1844
Critical Essays in Monetary Theory
Forgotten Men of Money
The Significance of Unaccounted Currencies
Trade Credit and Monetary Policy
The Pound Sterling
The Truck Act of 1831
Long-Term Growth of the English Banking Sector and Money Stock, 1844-80
The Bank of England and the Country Banks
The Bill of Exchange and Private Banks in Lancashire, 1790-1830
The Truck System, Including a History of the British Truck Acts, 1465-1960
Samuel Oldknow and the Arkwrights
| Unique citing works | 2 |
|---|---|
| Citations per year | 0.14 |
| Citation span | 2012 - 2013 (2) |
| Citation velocity | historical |
| Highly cited | No |