“Rules and Regulations of the Equitable Labour Exchange, Gray’s Inn Road, London, for the Purpose of Relieving the Productive Classes from Poverty, by their Own Industry, and for the Mutual Exchange of Labour for Equal Value of Labour”, Crisis, N°27, 8 September 1832, 105–106

The National Equitable Labour Exchange was inaugurated by Robert Owen on 17 September 1832 at 277 Gray’s Inn Road, London, following a series of earlier grassroots initiatives in London, Glasgow and Birmingham. Labour Exchanges aimed to combine co-operative trading with Owen’s theories of political economy, and especially his wish to reward labour as the source of all wealth. The members of this Association shall receive annually Labour Notes to the value of forty hours, as interest in consideration of every twenty pounds, or eight hundred hours’ labour, which they may deposit. The governor and directors shall issue annually Labour Notes to the value expressed on each certificate to any person presenting same, unless notice shall have been given to them in writing by the member to whom any certificate may belong, that such certificate has been lost. The property of Association shall be vested in three trustees, who shall be named and appointed by the Members in general meeting assembled.