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Johnstown, Pa.

CSE will present the results of its latest study of LVT in the distressed city of Johnstown, Pa.

What
When Aug 13, 2008
from 06:30 pm to 08:00 pm
Where City Hall
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Johnstown has a long history of flirtation with LVT, including the publisher of its daily paper, Warren W. Bailey: http://en.wikipedia.org/wiki/Warren_Worth_Bailey

Also, Henry George and future Mayor of Cleveland Tom Johnson were active in Johnstown in the latter part of the19th Century.
http://en.wikipedia.org/wiki/Tom_L._Johnson

George and Johnstown:
"His thoughts about the money question, a subject he intended to elaborate in the book which was to have been his magnum opus, The Science of Political Economy, was beginning to crystallize. His recommendation that a failing Johnstown, Pennsylvania company pay its workers with certificates backed by the bonds of its debtor, saved the company during the financial crisis of 1893. "
http://www.cooperativeindividualism.org/collins-george_on-henry-george.html

Said Tom Johnson: "It was at our Johnstown plant during the panic of the early (eighteen) nineties that we hit upon a device for supplying the shortage of currency.There were plenty of orders for our product - street railroad rails - but the buyers couldn't pay cash. We called our employees together and explained that we were unable to command enough currency to pay the full amount of their wages, but that if they were willing to accept a small percentage in cash and the remainder in certificates that we should be able to continue to operate the mill,we were selling rails for such cash payments as we could get and accepting the purchaser's bonds for the remainder.The bonds were to be held by a joint committee of company representatives and working men and against these bonds the certificates were issued.The certificates passed nearly at par and we experienced no serious legal embarrassment."