United States 1934 - New Jersey 10 Dollars County of Atlantic School Scrip Specimen (November 1 Issue)
School scrip issues such as this provide direct evidence of the severity of the Great Depression’s impact on public education. Counties were legally obligated to maintain schooling but lacked liquid funds, forcing them to monetize future tax receipts through interest-bearing instruments secured by municipal obligations. Once fiscal conditions stabilized, issued scrip was redeemed and cancelled, erasing most physical traces of the system. Read more →