At the beginning of 1933, Laramie officially was near bankruptcy. (FDR’s New Deal wouldn’t be taking office until March). In order to keep paying the bills and to keep paying city employees, the town decided to issue scrip. (A facsimile pictured, below). The city employees and creditors were paid in the scrip that could only be redeemed in stores in town. The plan was to make merchants accept payment in scrip and then carry the costs until the city billed them for property taxes, to be offset, dollar for dollar, by the scrip each “redeemed.” (Riverton developed a similar scheme). Most merchants didn’t want to offer “credit” to the city without even gaining interest from carrying the scrip for the year. The New Deal came in with aid to states, cities, and direct help to the needy and unemployed, making the scrip issue moot. Now, the scrip issuance is practically forgotten.
