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DEPRESSION SCRIP=1932=$25=SCHOOL DISTRICT=CITY OF FERNDALE=MI=SPECIMEN=Ch Unc
 
DEPRESSION SCRIP=1932=$25=SCHOOL DISTRICT=CITY OF FERNDALE=MI=SPECIMEN=Ch Unc
Larger Image
$35.00
$25.00
 
 
Description:
TAX ANTICIPATION WARRANT


School District
City of Ferndale, Michigan

Date issued:  1932

$25 specimen tax warrant

A MARVELOUS PIECE OF FISCAL HISTORY

  

WHEN THE STOCK MARKET CRASHED IN 1929 ALL BUSINESSES STARTED TO FAIL INCLUDING BANKS, WHICH WERE BEING CLOSED BY PRESIDENT ROOSEVELT. AS MORE BANKS CLOSED MORE PEOPLE WERE WITHDRAWING THE MONEY.  BANKS SHOWED MORE MONEY ON THEIR BOOKS THAN THEY ACTUALLY HAD ON HAND--CAUSING EVEN MORE PROBLEMS. WITHOUT CASH,

PEOPLE WERE UNABLE TO BUY ANYTHING OR PAY BILLS. 

 

THE DEPRESSION SCRIP WAS ISSUED IN THE 1930íS TO SOLVE THE CASH PROBLEM.  LOCAL BUSINESSES, SCHOOLS, BANKS, COUNTIES AND INDIVIDUAL PEOPLE ISSUED LOCAL MONEY. 

 

AS TIME WENT ON, THESE DEPRESSION PIECES BECAME A COLLECTORS ITEM. 

 

 GRADES

Choice Uncirculated

There is a small tear at the top of the warrant, near the center.

The warrant has the word "Specimen" stamped in red ink near the President and Secretary's signature line.

 
         
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