We reached a transit camp in Italy about a fortnight after capture and received one-quarter of a Red Cross food parcel each a week later. At once exchanges, already established, multiplied in volume. Starting with simple direct barter, such as a nonsmoker giving a smoker friend his cigarette issue in exchange for a chocolate ration, more complex exchanges soon became an accepted custom. Stories circulated of a padre who started off round the camp with a tin of cheese and five cigarettes and returned to his bed with a complete parcel in addition to his original cheese and cigarettes; the market was not yet perfect. Within a week or two, as the volume of trade grew, rough scales of exchange values came into existence. Sikhs, who had at first exchanged tinned beef for practically any other foodstuff, began to insist on jam and margarine. It was realised that a tin of jam was worth one-half pound of margarine plus something else; that a cigarette issue was worth several chocolate issues, and a tin of diced carrots was worth practically nothing.Peter R. Senn: Cigarettes As Currency (JSTOR and Wiley Online)
Usually cigarettes were sold for Reichsmarks, which at that time could be exchanged by American and British soldiers for pounds or dollars ... Large pound and dollar profits were made in many cases
quite time some effective steps were taken to stop the use of postage stamps as currency. They never were fit for such a purpose, though in the absolute dearth of small change they have been of some service to the business community. But currency, to answer any good end, must have some essential value.Statement of City Postmaster Wakeman in Reference to Defaced Postage Stamps.
Numerous letters, critical and advisory, friendly and denunciatory, have recently been received at this office in regard to regulations of the Post-office Department respecting postage stamps.During the US Civil War, postal currency was issued to supplement coinage that was being hoarded.
Time will not permit me to reply to them in detail. I beg leave, therefore, to submit the following statement, which it is believed, will explain the various points raised.
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posted by Katjusa Roquette at 11:30 PM on October 2, 2012 [1 favorite]