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Scrip Meaning: Definition, Examples, and Translations

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scrip

[skrɪp ]

Definition

Context #1 | Noun

writing document

A 'scrip' is a document or certificate that represents a part of a larger certificate, often used as a substitute for currency. In some contexts, it may also refer to a small payment or a token of value, typically issued by a company or other organization. Scrip is commonly used in specific settings, such as certain businesses that operate with their own circulated currency for in-house transactions. It is often seen in situations such as community currencies where local businesses can use it for mutual transactions.

Synonyms

substitute, token, voucher.

Examples of usage

  • They provided scrip for employees to spend at local shops.
  • The amusement park issued scrip that could be used for rides and games.
  • He exchanged his scrip for food at the festival.

Translations

To see the translation, please select a language from the options available.

Interesting Facts

History

  • During the American Civil War, some soldiers were paid in scrip due to monetary shortages.
  • Educational institutions in the early 20th century often provided scrip as a form of student currency for use in campus shops.
  • Scrip continued to be used in various sectors, including mining and lumber camps, where money was scarce.

Economics

  • Scrip can serve as a temporary substitute in economic systems where official currency is unavailable.
  • Many modern loyalty programs issue scrip that represents discounts or credits in their systems.
  • The use of scrip has seen a revival in community currency initiatives aimed at local economies.

Cultural Significance

  • Scrip has been a crucial element in the development of community resilience and alternative economic practices.
  • In some cultures, scrip symbolizes trust and community bonding, enabling local transactions without needing banks.
  • Literature and films occasionally feature scrip as a plot device to illustrate economic hardship or innovation.

Legal Aspects

  • Scrip can be subject to regulations and laws, especially concerning its use as currency or payment.
  • In some historical contexts, particularly in mining or logging, scrip was valuable enough to be compared with formal money.
  • Contemporary uses of scrip in comunidades may be assessed under laws governing alternative currencies.

Origin of 'scrip'

Main points about word origin

  • The term 'scrip' originated from the Latin word 'scriptum' which means 'something written'.
  • In the 19th century, 'scrip' referred to certificates issued by companies to manage payments.
  • The word initially denoted a part of a payment check, often used in lieu of cash.

The term 'scrip' originates from the Latin word 'scribere', which means 'to write'. Initially used in the 13th century, it referred to a written document or a fragment of writing, often associated with financial instruments or promissory notes. Over time, the scope of the word expanded to include various types of bearer certificates, or tokens that could be used as a form of currency, especially in contexts where traditional money was not practical or available. Scrip was notably used during world wars when shortages of cash forced businesses to create their own internal currency for transactions. In the 20th century, with the rise of local and community currencies, the concept of scrip found renewed relevance, allowing communities to support local businesses and retain economic value within the community.

Word Frequency Rank

With rank #17,762, this word belongs to specialized vocabulary. While not common in everyday speech, it enriches your ability to express complex ideas.