The E-Sylum:  Volume 9, Number 26, June 25, 2006, Article 22

WHEN A MILL PAID IN SILVER DOLLARS

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[The article is about a Darington, SC business that paid its
workers in silver dollars in an attempt to illustrate how much
its presence meant to the community financially.  Here are a few
excerpts. -Editor]

"Fred Mattox planned to attend Saturday's West End Reunion, but
he wasn't going to take with him the 60 silver dollars he was
paid on Dec. 1, 1950, at the Darlington Manufacturing Co.

It was called a "silver dollar payroll" and all employees of the
cotton mill were paid in silver dollars. The payroll was about
$28,000 and weighed 1,680 pounds."

"The mill owner, Roger Milliken, wanted employees to spend the
silver dollars in Darlington to show the economic impact mill
employees had on the town," Mattox said. "There was some controversy
about Darlington Manufacturing Co. not putting out much money for
the economy. Milliken was determined to show how much the company
put out for the town."

Mattox was in the maintenance department in 1950. He knew if he
held on to the silver dollars, they would appreciate in value. He
was offered $20 each for them at one time, but turned the offer down.

He keeps the silver dollars in a safe deposit box at a local bank.
The oldest was minted in 1879 and the newest in 1934. He still has
the cotton bag they came in."

"The event wasn't just at the Darlington plant. Every plant in the
Deering Milliken group was paid in silver dollars. Bags of silver
dollars were on display in the Citizens Bank, a forerunner of Bank
of America. The display advertised the $28,000 payroll."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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