Collectie GB 0074 O/433 - EQUITABLE LABOUR EXCHANGE

0.01 linear metres

GB 0074 O/433 1832 Collection 0.01 linear metres Equitable Labour Exchange

In September 1832 socialist reformer Robert Owen, famed for the model community at the New Lanark mills, opened the Equitable Labour Exchange on Grays Inn Road. The Exchange used a new currency which was based on labour. Workers could exchange goods for notes according to the time they had taken to make the goods. The notes were measured in hours. The notes could then be exchanged for goods of equal 'time value'. Problems soon arose with the system, partly because the assessors over-valued goods, and because tradesmen would bring in low quality items, trade them for notes, trade these for high-quality goods, and sell these goods at a profit. The Exchange closed in 1834.

Record deposited in March 1975.

Note issued by the Equitable Labour Exchange to the value of Five Hours. The order, on the Exchange's elaborately engraved form, is to the Storekeeper to deliver to the bearer stores to the value of Five Hours. The date and number are inserted in manuscript. The signatures of the Governor, Director, and Secretary are also original autograph.

One item.

Available for general access.

Copyright to these records rests with the City of London.

English

Fit

Please see online catalogues at: http://search.lma.gov.uk/opac_lma/index.htm

Compiled in compliance with General International Standard Archival Description, ISAD(G), second edition, 2000; National Council on Archives Rules for the Construction of Personal, Place and Corporate Names, 1997.

June to August 2010. Equitable Labour Exchange Owen , Robert , 1771-1858 , socialist and philanthropist Manufactured goods Labour Finance Currencies Grays Inn Road Camden London England UK Western Europe Europe

Record deposited in March 1975.

Note issued by the Equitable Labour Exchange to the value of Five Hours. The order, on the Exchange's elaborately engraved form, is to the Storekeeper to deliver to the bearer stores to the value of Five Hours. The date and number are inserted in manuscript. The signatures of the Governor, Director, and Secretary are also original autograph.

One item.

Available for general access.

Copyright to these records rests with the City of London.

• Engels

• Latijn

English

Please see online catalogues at: http://search.lma.gov.uk/opac_lma/index.htm

Compiled in compliance with General International Standard Archival Description, ISAD(G), second edition, 2000; National Council on Archives Rules for the Construction of Personal, Place and Corporate Names, 1997.

• Engels