From:	Chris Siebenmann <cks@********.UTCS.TORONTO.EDU>
Subject:	Re: Scrip again
Date:	Fri, 10 Sep 1993 11:56:56 -0400

Corporate-issue script represents a debt that the corp may be called on
to redeem. As such, it makes a great deal of sense for the the corp to
want to control this, so it can control its debt obligation to random
strangers. At the same time, making corp script only accepted from
employees provides you with a stronger control over them; if they hold
substantial amounts of corp script, they have an incentive to stay with
you.

Trading in corp script by non-corpers is not technically illegal except
in the corp extraterritoriality zones. It's just not accepted outside them
in situations where it would be too much of a hassle to redeem, and it will
be accepted for less than its nominal true value, since it has to be fenced
to be worth anything.

Corps can issue true currency if they want to; they're called 'stocks'
and 'bonds'.

- cks