We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
Contact Forum Editor

Send an email to our Forum Editor:


PLEASE NOTE: Your name is used only to let the Forum Editor know who sent the message. Both your name and email address will not be used for any other purpose.

Speakers Corner


It's free to register, to post a question or to start / join a discussion


 

Local minted money or £sd.


Ex plorer
Resolved

Likes # 0

Before my time but I do remember one of the family still living in the same house as they had done for many years.

An estate that had a mint for its own money, and many local people were employed in those years by the estate

When pay day came round you could be paid either in the estates minted money or LSD. (Doubtful if there were pounds paid out then)

The estate also owned the local shop and it was the only place you could spend your weeks wage if you were paid in there money.

If you were paid in LSD you were paid a percentage less than in the estates minted money as far as I know you could mix your wage.

I am not sure of the year but will try to find out.

Like this post
spuds

Likes # 0

There were many of these type of arrangements in existence, bit like the mill owners and the Cadbury Worlds supporting their own, or even the old days of the Co-op divi.

I was only reading the other day about 'overtime' and overtime payments. Instead of paying money, this was paid in 'kind'. One particular cheesemaker, use to pay his workers all the cider they could drink, with transport provided to get them home. Fancy telling someone nowadays, that was part of the job?.

Like this post  
wee eddie

Likes # 0

Many Factory Owners paid in notes that could only be used in the Factory Shop/Company Store.

I may be wrong in my naming of the Bill that banned this, but I think that it was called "The Truck Act".

It was common in America as well ~ Frankie Laine sang about it in the 60's

Wikki link

Like this post
Bing.alau

Likes # 0

We now have different types of minted money in this country. I'm thinking of the different Scottish Banks churning out their own versions. Can't understand why Wales and Northern Ireland don't do their own too.

Incidentally, if Scotland ever obtain independence will they be changing over to the Euro?

I love Tennessee Ernie's version of the "Sixteen Tons" song, in fact I like all his songs. He seemed to have a very distinctive voice.

Like this post
Woolwell

Likes # 0

There is the Totnes Pound

Like this post
fourm member

Likes # 0

A variant of this still happens today. I stayed in a resort in Florida where the only 'currency' was the credit card style room key. All the bars, restaurants and shops took payment with the card and it all added to your bill at the end of your stay.

Like this post
Woolwell

Likes # 0

fourm member - I don't know whether a similar system is still used by IBM or not. About 15 years ago working for them you could not use any currency but had to preload/top up your electronic pass at set credit/debit card points. Not only did this permit you access to your permitted areas but also was the only way to get a cup of coffee from the vending machine or buy a meal in the canteen. Visitors were given a pass pre-loaded with enough for a coffee or a meal but could not top it up themselves.

Like this post
Bing.alau

Likes # 0

That may well be a method of stopping fiddling by the staff.

Like this post
Forum Editor

Likes # 0

This method of payment wasn't uncommon in the 18th century and early part of the 19th century, when the country's canal and railway networks were being developed. The 'navvies' who did the hard work were paid by the day, and more often than not if they got cash it went straight down their throats in the form of alcohol.

Employers partially solved the problem by minting their own metal tokens, which were exchangeable for food and other goods in company stores and canteens, none of which stocked alcohol. I say 'partially solved' because the practice lead to a culture of clandestine poteen distilling, something that wasn't easy to stop in the often remote countryside construction locations. The navvies could easily steal grain from farm fields, and constructing a working pot still isn't rocket science.

At around 60% alcohol by volume the spirit can't have improved the health of its drinkers, but it apparently made a wonderful muscle rub at the end of a hard day's digging or track laying.

Like this post
Mr Mistoffelees

Likes # 0

Locally minted money alive and well in Bristol, Bristol Pound.

Like this post

Reply to this topic

This thread has been locked.



IDG UK Sites

The 30 best TV shows on Netflix UK: Our pick of the best programmes you can watch right now

IDG UK Sites

Nostalgia time: Top 10 best selling mobile phones in history

IDG UK Sites

VFX Emmy: Game of Thrones work garners gong for Rodeo FX

IDG UK Sites

Apple 13-inch MacBook Pro with Retina review (2.6GHz, 128GB, mid-2014)