Equitable Labor Exchange note

Equitable Labor Exchange note for 1 hour, issued from the Equitable Labor Exchange in Grays Inn Road, London in 1832. It was issued in the 1830s by social reformer Robert Owen, and meant that the value of goods was tied to how long an item took to produce. Workers could sell their products in exchange for these notes which would then be accepted as a form of currency. The system aimed to reward workers fairly for their work, instead of just profiting from their labour. The experiment ended in 1834 after disputes over the value of products and the time taken to make them.