Chapter I: Front Matter

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LONDON SCHOOL OF ECONOMICS AND POLITICAL SCIENCE

AN EXAMPLE OF COMMUNAL CURRENCY

By

J. THEODORE HARRIS, B.A.

With a Preface by SIDNEY WEBB, LL.B.

1/- NET

LONDON P. S. KING & SON ORCHARD HOUSE, WESTMINSTER 1911

PEOPLE'S BANKS

A RECORD OF SOCIAL AND ECONOMIC SUCCESS

By H. W. WOLFF

_Third Edition, Newly Revised and Enlarged_ _Demy 8vo, Cloth, 600 pp._ =6s.= _net_

CONTENTS--Introduction, The General Idea, The Two Problems, The Two
Aspects of the Question, Credit to Agriculture, The "Credit
Associations" of Schulze-Delitzsch, Raiffeisen Village Banks,
Adaptations, "Assisted" Co-operative Credit, Co-operative
Credit in Austria and Hungary, The "Banche Popolari" Italy, The
"Casse Rurali" of Italy, Co-operative Credit in Belgium,
Co-operative Credit in Switzerland, Co-operative Credit in
France, Offshoots and Congeners, Co-operative Credit in India,
Conclusion.

"We may confidently refer those who desire information on the point to the book with which Mr. Wolff has provided us. It will be a most useful thing if it is widely read, and the lessons which it contains are put in practice."--_Athenaeum._

"The book is the most systematic and intelligent account of these institutions which has been published."--_Banker's Magazine (New York)._

"It is the most complete book on the subject."--_Mr. G. N. Pierson, late Dutch Prime Minister and Minister of Finance._

"There was manifest need of just such a book.... A mine of valuable information."--_Review of Reviews._

"This is an excellent book in every way, and thoroughly deserves the careful attention of all who are concerned for the welfare of the people."--_Economic Review._

LONDON: P. S. KING & SON ORCHARD HOUSE, WESTMINSTER

STUDIES IN ECONOMICS AND POLITICAL SCIENCE

Edited by the Hon. W. PEMBER REEVES, Director of the London School of Economics

No. 21 in the Series of Monographs by Writers connected with the London School of Economics and Political Science

AN EXAMPLE OF COMMUNAL CURRENCY

AN EXAMPLE OF COMMUNAL CURRENCY:

THE FACTS ABOUT THE GUERNSEY MARKET HOUSE

COMPILED FROM ORIGINAL DOCUMENTS BY J. THEODORE HARRIS, B.A.

WITH A PREFACE BY SIDNEY WEBB, LL.B.

LONDON P. S. KING & SON ORCHARD HOUSE, WESTMINSTER 1911

CONTENTS

PAGE

PREFACE vii

INTRODUCTION 1

CHAP.

I. CONSTITUTION OF GUERNSEY 4

II. THE SECURITY OF THE NOTES 6

III. MUNICIPAL ENTERPRISE--THE ISSUE OF THE NOTES 9

IV. THE UTILITY OF THE NOTES 20

V. FIRST RUMBLINGS OF OPPOSITION 25

VI. THE REPLY OF THE STATES 30

VII. THE CRISIS 45

VIII. THE END 55

CONCLUSION 59

APPENDIX 61