Teachers Fight Back Against Predatory Finance
Everett school teachers refuse to accept discounted payment for their salary warrants, challenging the brokers who profit from their wages.
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Everett school teachers have declared war on school warrant brokers. In a mass meeting, they have stated that they will hold their warrants for their last month's salary until they can dispose of them at par. This resolve is caused by the action of the dealers in school warrants, who will not accept the warrants for last month at par; they want 2 or 3 percent reduction. The teachers argue that the school district is in better financial condition than ever. At a mass meeting, a committee was appointed to see what can be done toward getting last month's warrants cashed at par, acting directly with the 'moneyed people' rather than through their agents. If they do finally have to accept a discount, the teachers believe the school board should stand for the loss.
“The teachers argue that the school district is in better financial condition than ever.”
This labor dispute over the devaluation of public sector pay—essentially a 'payday lending' struggle forced upon public employees—resonates with modern cycles of budget-slashing and wage insecurity for educators.
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