Robert Owen was a utopian dreamer. You can read more about him on his Wikipedia page http://en.wikipedia.org/wiki/Robert_Owen He issued notes for his National Equitable Labour Exchange. (From the Trade Union Congress Website http://www.unionhistory.info/index.php): The Exchange originally located in Grays Inn Road, London but from 1833 housed in Charlotte Street, operated as a depot where workers could exchange products they had made by means of labour notes representing hours of work. The Exchange was initially successful and branches opened in South London and Birmingham, but disputes over the value of products and the time taken to make them led to the failure of the experiment and all the branches closed in 1834. The unused notes were overprinted for use as receipts by another merchant after the NELE failed in 1834.
Interesting idea.. ...but it failed for a rather predictable reason. Which as much of a political statement as I'll make here lol... Still, interesting notes with an interesting history behind them.
I learn something new every time I come to CT. What a nice piece of history. Thanks for sharing. Jack
