Current state of the Hours project:
Scrip printed refers to the total number of notes that have been created, these could be in a variety of denominations.
Scrip value is the total number of hours that have been represented by the scrip that has been printed, if I printed fourty 1/4 hour notes, the scrip value would be 10 hours. This figure is probably the best approximation of money supply within this system.
Circulated is the total value in hours of the promises the issuer has made. Another way of looking at it is this is the total number of hours the issuer has spent of their own promises. This could be higher than scrip value or scrip printed if scrip has been redeemed that the issuer has then sent out again.
Redeemed is the total value in hours of the issuers scrip that the issuer has honoured.
Expired is the value in hours of scrip that was issued was not redeemed before expiring.
Circulating is the total number in hours of the promises or scrip that are in the hands of people other than the issuer.