Editing Time-based currency (section)

===19th century===
{{main|Labour voucher|Cincinnati Time Store}}

[[File:Truck system of payment by order of Robert Owen and Benj Woolfield, July 22nd 1833 (1294620).jpg|thumb|360px|Truck system of payment by order of Robert Owen and Benj Woolfield, National Equitable Labour Exchange, July 22nd 1833.]]
Time-based currency exchanges date back to the early 19th century.

The [[Cincinnati Time Store]] (1827-1830) was the first in a series of retail stores created by [[United States|American]] [[individualist anarchist]] [[Josiah Warren]] to test his economic [[labor theory of value]].<ref>{{cite journal |page=2 |title=Men Against the State: The Expositors of Individualist Anarchism in America, 1827-1908 by James J. Martin and Harry Elmer Barnes |first1=A.F. |last1=Tyler |journal=[[Indiana Magazine of History]] |year=1953}}</ref> The experimental store operated from May 18, 1827, until May 1830.<ref>{{cite book |url=https://books.google.com/books?id=jujo9fJbhdoC&pg=PA123 |title=Max Stirner's Dialectical Egoism: A New Interpretation |publisher=[[Rowman & Littlefield]] |first=John F. |last=Welsh |year=2010 |page=123 |access-date=November 28, 2018|isbn=9780739141564 }}</ref> The Cincinnati Time Store experiment in use of labor as a medium of exchange antedated similar European efforts by two decades.<ref name="Fishbein">{{cite journal |title=Anarchism as Ideology and Impulse: Anarchism in America   |journal=[[Film & History]] |last1=Fishbein |first1=Leslie |orig-year=1981 |date=1983 |volume=13 |number=1 |pages=17–22 |issn=0360-3695 |url=https://muse.jhu.edu/article/400648/summary }}</ref>

The National Equitable Labour Exchange was founded by [[Robert Owen]], a Welsh [[socialist]] and labor reformer in [[London]], [[England]], in 1832.<ref>{{Cite book|last=Patmore, Greg|url=https://www.worldcat.org/oclc/1032659601|title=A global history of co-operative business|others=Balnave, Nikola.|date=17 April 2018|isbn=978-1-317-27020-1|location=Abingdon, Oxon|oclc=1032659601}}</ref> It was established in [[Birmingham]], England, before folding in 1834. It issued "Labour Notes" similar to banknotes, denominated in units of 1, 2, 5, 10, 20, 40, and 80 hours. [[John Gray (19th century socialist)|John Gray]], a socialist [[economics|economist]], worked with Owen and later with [[Ricardian socialism|Ricardian Socialists]] and postulated a ''National Chamber of Commerce'' as a central bank issuing a ''labour currency''.<ref>{{cite web|url=http://www.unionhistory.info/timeline/Tl_Display.php?Where=Dc1Title+contains+%27National+Equitable+Labour+Exchange+notes%2C+1832+%28front%29%27+|title=TUC – History Online|access-date=24 February 2015}}</ref>

In 1848, the socialist and first self-designated [[anarchist]] [[Pierre-Joseph Proudhon]] postulated a system of ''time chits''.{{Citation needed|date=January 2024}}<!-- This idea appears to originate with Alfred Darimon -->

[[Josiah Warren]] <!-- Why was his date of birth and death included here?  If you want to write in detail about Josiah Warren, contribute to the Josiah Warren article. --> published a book describing [[labor notes (currency)|labor notes]] in 1852.<ref>{{cite book|last=Warren|first=Josiah|title=Equitable Commerce: A New Development of Principles|year=1852|publisher=Burt Franklin Press|location=New York |pages=117 |url=http://tmh.floonet.net/pdf/jwarren.pdf|url-status=dead|archive-url=https://web.archive.org/web/20070927024207/http://tmh.floonet.net/pdf/jwarren.pdf|archive-date=2007-09-27}}</ref>

In 1875, [[Karl Marx]] wrote of "Labor Certificates" (''Arbeitszertifikaten'') in his [[Critique of the Gotha Program]] of a "certificate from society that [the labourer] has furnished such and such an amount of labour", which can be used to draw "from the social stock of means of consumption as much as costs the same amount of labour."<ref>{{cite web|url=http://www.marxists.org/subject/japan/tsushima/labor-certificates.htm|title=Understanding "Labor Certificates" on the Basis of the Theory of Value―The Law of Value and Socialism― 1956|author=Tadayuki Tsushima|access-date=24 February 2015}}</ref>