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Content: Stamp Scrip (by Irving Fisher, 1933)
VI. A BILL IN THE PENNSYLVANIA LEGISLATURE
Authorizing the issuance of scrip certificates for relief purposes by political subdivisions of this Commonwealth; providing for the printing and issuance of scrip and stamps by the Commonwealth, for the creation of a scrip redemption fund in the State Treasury and for the redemption of scrip therefrom; imposing duties on the State Emergency Relief Board and the State Treasurer; appropriating the moneys in the scrip redemption fund; imposing penalties for counterfeiting and otherwise tampering with scrip certificates or stamps; and making an appropriation.
SECTION 1. Be it enacted by the Senate and House of Representatives of the
Commonwealth of Pennsylvania in General Assembly met, and it is hereby enacted
by the authority of the same, That, when used in this act the following words
and phrases shall have the meanings respectively ascribed to them in this
section, except where the context clearly indicates a different meaning:
"Municipality" shall mean any city, borough, county, township, incorporated
town, poor district or school district of this Commonwealth.
"Emergency
relief stamp" shall mean adhesive stamps in the denomination of two cents each,
issued by the Commonwealth to be affixed to scrip certificates authorized by
this act.
"Board" shall mean the State Emergency Relief Board of the
Commonwealth.
SECTION 2. Subject to the conditions hereinafter prescribed, any municipality may issue negotiable scrip certificates to be distributed in place of cash to persons entitled to direct unemployment relief and to pay for labor and materials utilized on work relief projects.
SECTION 3. When any municipality shall desire to issue scrip certificates under this act, it shall make application for permission to do so to the Board in such form as the Board shall require. If the Board shall be convinced that a proper case has been shown therefor, it shall authorize the municipality to issue scrip certificates in such amounts and at such times as the Board may deem proper.
SECTION 4. All scrip certificates shall be printed and distributed to the respective municipalities by the Commonwealth in the denomination of one dollar each, and in such form as the Board may determine. Each certificate shall contain fifty-two (52) spaces for attachment of adhesive stamps hereinafter provided for, each such space to bear a date one week later than the preceding space.
SECTION 5. Scrip certificates shall be negotiable. They shall be redeemable at any time after the last date appearing in the stamp spaces thereon, upon presentation to the State Treasurer with fifty-two (52) emergency relief stamps affixed to each certificate.
SECTION 6. The holder of any scrip certificate before or upon transferring it, shall affix an emergency relief stamp to each unfilled stamp space thereon which bears a date prior to the date of transfer.
SECTION 7. Emergency relief stamps in such form as the Board may determine, shall be provided and sold by the State Treasurer, and he shall make provision for the sale of the stamps in municipalities which have been authorized to issue scrip certificates, and elsewhere.
SECTION 8. The State Treasurer shall have authority to appoint agents for the sale of emergency relief stamps and may deliver stamps to such agents for sale, but no stamps shall be delivered to any such agent other than a State bank or a trust company, until the agent shall have furnished bond satisfactory to the State Treasurer in an amount equal to the face value of the stamps to be delivered, or shall have deposited with the State Treasurer securities of the same kind and in the same amount as is now required by law to be furnished by depositories of State funds.
SECTION 9. Agents for the sale of emergency relief stamps shall keep all moneys received from such sales separate and apart from all other moneys and shall deposit them in State banks or trust companies only, in separate accounts in the name of the Commonwealth. All agents shall remit the proceeds of stamp sales in each month within five days after the end of the month to the State Treasurer, after deducting two per centum of the gross amount of sales, which shall be retained by the agents as their compensation.
SECTION 10. All moneys paid into the State Treasury as proceeds of the sale of emergency relief stamps shall constitute a special fund to be known as the "Scrip Redemption Fund," and all moneys which shall be credited to said fund or as much thereof as shall be necessary, are hereby expressly appropriated to the State Treasurer for the redemption of scrip certificates issued under this act, and for the payment into the General Fund of the cost of preparing and distributing scrip certificates and emergency relief stamps, provided that not more than two per centum of the face value of stamps sold may be used for payment of such cost.
SECTION 11. All municipalities are hereby authorized to accept scrip certificates issued under this act, when properly stamped, in payment of taxes and any other debts due to the municipality.
SECTION 12. Any person who shall counterfeit, raise, or alter, or who shall conspire with others to counterfeit, raise or alter any scrip certificate authorized by this act or any emergency relief stamp, or who shall utter or transfer any such certificate or stamp with knowledge or notice that it is counterfeit or has been raised or altered, shall be guilty of a misdemeanor, and upon conviction thereof shall be sentenced to pay a fine of not less than $100 and not exceeding $1,000 and to undergo imprisonment for not more than 2 years, in the discretion of the court.
SECTION 13. The sum of ...... dollars, or as much thereof as may be necessary, is hereby appropriated to the State Treasurer for the printing and distribution of scrip certificates and stamps issued under the authority of this act.
SECTION 14. All acts and parts of acts inconsistent herewith are hereby repealed.
SECTION 15. This act shall become effective immediately upon its final
enactment.