Scrip was fairly common, and not just early in the 1930s.  My mother 
taught in Terre Haute, Indiana, in 1940, and was paid for a few 
months in scrip.  The school system's (property) tax revenue was not 
being effectively collected, as I recall the explanation.  The 
interesting institutional question, which, unfortunately, my mother 
did not know the answer to is how the merchants who accepted the 
scrip eventually (or immediately) got paid.  (If immediately, I'd 
guess that the scrip was discounted.)  Like Bob, I can't get more 
information at this time.

Donald Coffin