What was scrip?

Answer 1

Scrip was a substitute currency used in various contexts, often issued by companies or local governments, primarily during times of economic instability or shortages of cash. It typically represented a promise to pay a certain amount of money or could be redeemed for goods and services. Scrip was commonly used in places like company towns, where workers were paid in scrip that could only be spent at company-owned stores. Its use declined with the establishment of more stable monetary systems.