Local minted money or £sd.

  Ex plorer 13:31 10 Mar 2013

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.

  spuds 14:35 10 Mar 2013

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?.

  wee eddie 14:37 10 Mar 2013

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

  Bing.alau 17:07 10 Mar 2013

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.

  Woolwell 17:36 10 Mar 2013

There is the Totnes Pound

  fourm member 17:42 10 Mar 2013

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.

  Woolwell 17:50 10 Mar 2013

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.

  Bing.alau 18:59 10 Mar 2013

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

  Forum Editor 00:21 11 Mar 2013

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.

  Mr Mistoffelees 08:40 11 Mar 2013

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

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