After the bank act of 1846, the Malcolmsons got permission to issue their own "token money", although it has been in use since about 1832.

It is legal tender within a radius of thirty miles. The money is called leather but it is actually cardboard, it just looks as if it is leather. The money was represented by (2/-). Each token bore the signatures of the Portlaw industrialists.

A great London financial house has put it in writing, "We guarantee Messers Malcolmsons Bros. to the extent of two million pounds sterling". 

In 1844 the Malcolmson Brothers took action against two newspapers who attacked the factory for employing slaves who received no money but small tokens to procure goods at the shops of "the tyrants". This was untrue and the Malcolmsons were awarded £500