Detroit Depression Scrip
Issued when cash vanished and banks froze, Depression-era scrip kept local economies alive—and today offers collectors a tangible link to survival, sacrifice, and civic resilience during America’s darkest financial years.
The Great Depression, which began with the stock market crash in 1929, lasted almost until World War II, as various governments in America ran out of money. In response to the lack of circulating currency, cities and municipalities across the country began issuing what became known as “depression scrip” — a type of emergency money intended for local use.
Depression scrip was issued in towns and cities across the United States and was a great help during tough times. This form of substitute currency allowed basic commerce to continue when traditional money was unavailable, and in many cases, became the only medium of exchange for everyday purchases. Many of these notes were issued on inexpensive paper and intended for short-term use, which also contributed to their rarity today, as most were redeemed and destroyed.
In an effort to ease the shortage of cash that had become extremely scarce, Detroit issued its own form of scrip beginning on April 27, 1933. The scrip was often used to pay city employees and cover municipal expenses when regular funds were unavailable or frozen in banks.
The Detroit police department suffered in a way that I was to learn about in the early 1960s. During the early days of the Depression, officers were offered two prospects: take a pay cut or face layoffs. Unfortunately for the youngest officers, the older officers voted in favor of layoffs. This did not go over very well with junior officers and caused resentment among the younger that they did not forget. This resentment lasted a long time, as an officer who was still on the job shared with me. He also took me around to businesses that had sympathized with them and provided discounts for officers. This officer took me around and introduced me to some of the small businesspeople who had given discounts. The large business owners did not help the same way. I was told to take care of the people who had helped us.
The scrip itself was relatively scarce compared to official government-issued currency. Generally speaking, higher denomination notes were more common than the lower denominations, as they were issued in smaller overall quantities. The notes I am sharing were pretty scarce, $1, $2, and $5.
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