Scrip are tokens or paper with a monetary value issued to workers as an advance on wages by the company. There were many companies that used this practice. These tokens could only be used at the specific locality or town of the company named.
Because it was used in the context of a business town and typically very secluded, there were usually no other retail establishments, employees who used this could only redeem their value at that specific location. The stores often had inflated prices which resulted in workers being paid less then they thought they were.
As there were no other retail establishments, this constituted a monopoly.
Because it was used in the context of a business town and typically very secluded, there were usually no other retail establishments, employees who used this could only redeem their value at that specific location. The stores often had inflated prices which resulted in workers being paid less then they thought they were.
As there were no other retail establishments, this constituted a monopoly.