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Scrip issued by the province of Buenos Aires circulated freely months before Argentina's dollar peg broke.Germany would be in a happier position.
The role of Jewish merchants as bankers is documented by a fine example of scrip issued in 1863 by Spiegelberg Hermanos, the Spiegelberg Brothers.
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Fears of creditors demanding restitution from the farmers lead to wheat receipts and scrips issued by the government declared valid currency in 1845.
The move sparked a loss of confidence not in the dong but in the scrip being issued by Chairman Bernanke and Secretary Paulson.
Promissory notes, or scrip, were issued to raise money.
Only a few decades later, during America's Great Depression, local governments were under pressure for receiving low tax revenues, and scrips were issued as a form of payment.
It would be ironic if Greece issued scrip to get around a revenue shortfall, only to find that scrip exacerbated the problem.The second problem is bigger.
The central bank has also announced a further easing of the capital controls imposed last year and this week it revealed a plan to buy back most of the outstanding scrip (funny money) issued by cash-strapped provinces.These measures follow many other signs of incipient recovery in Argentina.
These duty-free credits are issued as scrips that are freely transferable and are traded by exporters like currency.
Edward D. Kleinbard thinks that issuing scrip could be another workaround.
It could save hard currency by issuing scrip, a type of IOU, in lieu of payments to its citizens (see Free exchange).
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