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5 Dollar - City of Lincoln Park Scrip Wayne County, Michigan
| Issuer | City of Lincoln Park, Wayne County, Michigan |
|---|---|
| Year | 1934 |
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| Value | 5 Dollars 5 USD = GBP 3.67 |
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|---|---|
| Obverse lettering | Date Issued June 15, 1934 CITY OF LINCOLN PARK SERIES WAYNE COUNTY, MICHIGAN FOR VALUE RECEIVED WILL PAY TO BEARER THE SUM OF FIVE DOLLAR On or before the fifteenth day of November, 1934 with interest on full elapsed months at the rate of (5%) per cent per annum at the office of the treasurer of the city of Lincoln Park in payment, in lieu of money, of delinquent and 1934-35 general City taxes. City ordinance NO. 53 provides that this note shall not be discounted. This note is one of a series totaling $28,000.00 and is issued under authority of act NO. 26 of the public acts act of 1931 of the state of Michigan, as amended by act NO. 46 of the public acts of 1933 and is authorized by council resolution of said city on May 28, 1934. Sufficient collections of 1934-35 city taxes will be set aside in a sinking fund to pay this note when due. This note is callable for payment at the option of the City on ten days notice published in the official newspaper. Interest will cease on date specified for payment in said notice. CITY OF LINCOLN PARK CITY CLERK_____________________ MAYOR________________________ |
| Reverse description | The reverse is printed entirely in green, with an elaborate guilloche border of interlocking wave and scroll patterns enclosing a rectangular central panel. A large lathe-work rosette medallion occupies the centre of the panel, composed of concentric engine-turned rings radiating from a tight spiral core, set against a fine geometric trellis underprint filling the remainder of the field. |
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| Comments |
Depression-era municipal scrip of this type was authorized under Michigan's Emergency Relief Act of 1933, which permitted local governments to issue their own currency-like obligations when tax revenues collapsed and banks restricted credit. Lincoln Park, a small industrial suburb south of Detroit, was among dozens of Wayne County municipalities that turned to scrip to meet payroll and fund basic services — Detroit's catastrophic banking failures in February 1933 hit the surrounding communities with particular force.
Wayne County scrip from 1934 is well documented but not abundant in collector holdings. Lincoln Park issues specifically are among the scarcer municipal pieces from the county.