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Word: scrip (lookup in dictionary) (lookup stats)
Dates: during 1951-1951
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Usage:

Through it all. Interior Secretary Oscar Chapman stayed mum. Sniffing skulduggery, Louisiana's Democratic Congressman E. E. Willis fired off a letter to Chapman, sarcastically pointing out that homestead scrip was never intended to help start a farm "at the bottom of the Gulf of Mexico." Willis demanded to know why Chapman, who usually acts on mineral lease applications in a matter of days, has let months pass without denying Cord's claims. By last week Chapman had still taken no action, but Interior officials said privately that Cord's claims will be tossed out. Another possible...

Author: /time Magazine | Title: HIGH FINANCE: Scrip Scrap | 9/24/1951 | See Source »

...types: 1) individual scrip, issued in each case by a special act of Congress to individuals for services to the Union, e.g., Joseph Gerard, who was killed by Indians in 1792 while carrying a message for the U.S.; 2) land exchange scrip, issued when private land was swallowed up by creation of national forests, etc.; 3) soldiers' additional rights, issued in 1874 and later, granting additional land to Civil War veterans who had already started homesteads...

Author: /time Magazine | Title: HIGH FINANCE: Scrip Scrap | 9/24/1951 | See Source »

Desert Claim. It was so fantastic that nobody would have given the scheme a second thought if Cord's once-magic name hadn't been attached to it. Even at that, it sounded like moonshine. Cord had discovered that land "scrip" certificates authorized by Congress as long as a century ago to deserving U.S. citizens are still available. There are three types of federal land scrip.* All entitle the holders to stake claims on unoccupied public land, most of which now is on mountaintops, deserts, etc. There is no doubt that the scrip is still good for some...

Author: /time Magazine | Title: HIGH FINANCE: Scrip Scrap | 9/24/1951 | See Source »

Cord and his friends began buying up scrip from heirs. In 1947, they laid claim to ten borax-rich acres in California's Mojave Desert. The Interior Department refused to recognize Cord's claim on the ground that his scrip could not be used for mineral land. Cord's appeal is still pending in court...

Author: /time Magazine | Title: HIGH FINANCE: Scrip Scrap | 9/24/1951 | See Source »

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