By Irving and assisted By Hans R.L. Cohrssen and Herbert W. Fisher Fisher
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Extra resources for Stamp Scrip
The citizens by agreeing to accept it, virtually buy it from the city and pay their taxes in small installments at the rate of 2 cents on the dollar each week. The City of Evanston, Ill. is using it in this way. , first introduced it in this manner. Many other cities are so using it. 2. The Stamp Scrip may also be loaned to merchants. They agree to pay their loans at a later date in scrip, without interest. They may use it to pay wages, local bills, etc. 3. Stamp Scrip may also be safely loaned to others, preferably for purposes that would put unemployed people to work and thus place needed purchasing power in their hands.
REYNOLDS. I should like to have the Senator advise me. "MR. BANKHEAD. The plan contemplates the use of half of this money and its distribution, for emergency unemployment relief, for giving employment in any form of public works that are available, in the purchase of goods, food, clothing, and other necessary supplies. In other words, half of it is to go out in distribution through exactly the same channels, for exactly the same purposes, through exactly the same agencies, as provided in the Costigan-La Follette bill for the distribution of the $500,000,000 provided in that measure.
Afterwards these amendments with some changes and additions were made into a separate bill (S. 5674 which was identical with Congressman Pettengill's bill H. R. 14757). Still later, in the present (73rd) congress, Senator Bankhead reintroduced this bill as S. 242. As finally drawn the bill aims to use the stamp feature not only for emergency relict but also for stabilization purposes. Congressman Pettengill's speech on his bill is referred to in the appendix. II. STAMP SCRIP AND BARTER EXCHANGES The general advantages of scrip are explained in the text.
Stamp Scrip by Irving and assisted By Hans R.L. Cohrssen and Herbert W. Fisher Fisher