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Local Community Currency Obtains Its Value Entirely From

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Local Community Currency Obtains Its Value Entirely From INS I DE TH I S I SSUE : COMMUNITY New Local Currency Projects & Efforts, Lewes Pound, Totnes Pound, BerkShares, Alternative Currencies, Michiana Money, Ithaca HOURS, CURREN C Y Cocoa Bucks, Local Money, Toronto Dollar Community Currency, Legal Tender Stamp Scrip, Borsodi Constant, REAL Dollars, Tenino MAGAZINE Wooden Money, Wendell Berry, Paul Glover, Noney, Amy Kirschner & Antartica Currency The first step for any community aiming to become more self-reliant is to establish its own currency system. Local currency for the town of Lewes in East Sussex, England LOCA L COMMUNITY CURRENCY OBTAINS ITS VA L UE ENTIRE L Y FROM THE WI ll INGNESS OF PEOP L E TO TRADE WITH IT ... L OCA L CURRENCIES CAN ’T BE BANKED AWAY TO EARN INTEREST SO CONSUMERS KEEP SPENDING IT AND THIS GIVES A BOOST TO THE L OCA L ECONOMY . March 2009, Premiere Issue Digital Version http://www.flickr.com/photos/writemboyo/2960993841/ New Local Currency Projects & Efforts REAL Dollars - Local Currency for Page 4 Lawrence, Kansas (2000-2003) Lewes Pound Page 26 Page 6 The Complete Story of Tenino Wooden Totnes Pound Project Money Page 8 By Don Major Thurston County Independent, 2/19/65 BerkShares Success Enables Page 27 Exchange Rate Change Announcement from Berkshares The Idea of a Local Economy Page 9 by Wendell Berry Page 28 Fundamentals of Alternative Currencies and Value Measurement Noney by Thomas Greco Rhymes with money Page 10 Page 30 Michiana Money Is The New Sense Beyond The Dollar - A Primer Community Currency On Local Currencies Page 12 by Amy Kirschner Page 31 Ithaca HOURS use steady By David Durrett The Coldest Currency on The Planet? Page 13 BankOfAntartica.com Page 34 The Destiny of Dollars Cover by Paul Glover The Lewes one pound note features Page 14 Thomas Paine who lived in Lewes from 1768 - 1774. There is A quote from him on Cocoa Bucks the bottom which reads: ‘ we have it in by Kevin Kanarek our power to build the world anew’ Page 15 Special Thanks to: Photo BY Penelope http://www.flickr.com/photos/8843323@N08/3056463827/ The Need For Local Money by Michael Linton Page 16 Editor, Mark Herpel FAQs on The Toronto Dollar Community Currency [email protected] Page 18 Skype IM ‘digitalcurrency’ Community Currency Magazine is published U.S. Government Issued Legal Tender online 12 times a year. Stamp Scrip (1933) Subscriptions are currently free. Page 20 Input & Content welcome. The Borsodi Constant aka “The Exeter © 2008 Community Currency Magazine Experiment” Inflation Free Currency All Rights Reserved (approximately 1971-1974) Page 22 Community Currency Magazine March 2009 Issue § 3 NEW LOCA L CURRE N CY PROJECTS & EFFORTS Ozark Hours, Fayetteville, Arkansas and environmental issues. Other topics include grants Several people in Ozarkia and around Fayetteville are for the local young people and a community garden. now creating their own local currency. Some working http://www.bclocalnews.com/surrey_area/ names are Ozark Hours, Ozark Bucks, or Hill Bills. peacearchnews/news/38666559.html Thanks to the ‘Omni Center for Peace, Justice and Ecology’ and ‘Fayetteville Friends Quaker Earthcare CBGB Local Currency Experiment, Greater Witness Committee’ for helping to sponsor this effort. Barre, Vermont The local notes are an alternative currency used in The Barre community is creating their own local the Fayetteville area only. currency they have named CBGB’s for ‘Currency for Building a Greater Barre’. Here are some details. The Private currencies may be backed by a commodity, CBGB exchange rate will be $1 for 1 CBGB. There government fiat money, or based on labor hours. The will be a one-time discount to initiating members of Fayetteville group is now currently discussing how to 10% meaning if you are an initiating member, you set it up their currency. They arranged for a world- purchase your CBGB’s at a 10% discount. $1 buys class consultant - Paul Glover, the founder of the you 1.10 CBGB’s technically. CBGB’s can be used just highly successful Ithaca Hours - to visit Fayetteville like dollars, you buy $10 worth of product or service on May 8th and 9th. He will evaluate the Ozarkia using 10 CBGBs. If you have a 10 CBGB note but the situation and lecture at the Unitarian Church. product or service is $8.95, you pay with what you http://www.ozarkia.net/money/index.html have in CBGBs and get change back in US dollars. http://greaterbarrecommunity.ning.com/group/ Tiburon Ballena, Lázaro Cárdenas, Mexico. localfirstbarre This currency can be exchanged with the Mexican peso but it is exclusively for use in the limited area Local Economy eXchange (LEX) in Berkeley Ejido (common land) of Lázaro Cárdenas, Mexico. Springs, WV When tourist visit they may purchase some local The Local Economy eXchange (LEX), was formed by money and use it at shops and restaurants. When a group of residents concerned about the rising costs they are returning home they may exchange back to of food, fuel and a faltering economy. According to Mexican Peso if they would like. There is a two way founder and Berkeley Springs resident, Elise Woods exchange with the national currency so this CC is the program is gaining momentum. In addition, the liquid back and forth with real currency (Peso). group is looking into creating a local money or currency http://culturechange.org/cms/index. system. LEX plans to be a repository of information php?option=com_content&task=view&id=309&Itemi on these subjects. d=1 The Local Economy Exchange formed last year to help New Community Currency in BC, Canada create a vital local economy - important to a sense of Supports Effort To Build A Stronger Local well being and a stronger community. Although the Economy group has multi-initiatives, it chose to focus on food There is a new community currency being created in first. White Rock. Mr. Matthew Stuart has been studying Calgary’s local currency and believes that a CC is a Other interests include fostering community gardens, great way to strengthen his local White Rock economy. a farm to school program, skill and tool sharing, He has formed a non-profit society called ‘Give A encouraging food preservation, supporting local Hoot Community Action Society’ which will focus on businesses including those concerned with local food creating the White Rock currency. He hopes this move and farming, sharing knowledge about time-tested will help to stimulate the local economy. The currency health solutions and encouraging green programs is just one of a three part plan to focus on community such as cooperative car and van pools. LEX hopes to 4 § Community Currency Magazine March 2009 Issue support a resilient community by connecting people, Mendo Food Futures Credits, Mendocino, products and services in Berkeley Springs and California beyond. Jason Bradford has a very interesting story on the http://74.95.82.237:591/mmonline/FMPro?-db=… Oil Drum:Campfire web site about a local currency =12589514&-find= backed by food grains. He writes, and http://www.journal-news.net/page/content.detail/ “It’s a similar system to a lot of barter currencies id/515050.html?nav=5094 but has the advantage of having an actual physical backing in the way our currencies used to be backed River Currency, Milwaukee, WI by gold. The extensive discussion afterwards Two neighborhoods in Milwaukee are now working to covers some important topics including the problem create their own community currency to promote local of forgery and lots of interesting historical data on spending. Community organizers such as Sura Faraj similar systems. Highly recommended because I have proposed the creation of unique form of paper believe this is the sort of thing we will need to have money that can be used in the city’s River West and some time in the near future if, as I fear it will, our East Side neighborhoods at local businesses. dollar suffers a complete collapse along with the banks.” OurNexChange, Oregon Sharon Miranda and Libby VanWyhe from Ashland, Read that full article here, Oregon have a great new online “Trade Dollars” http://campfire.theoildrum.com/node/5158 system. http://www.ournexchange.com/ Their idea is to have Ashland residents and businesses integrate The “Southampton pound”, UK some of their day to day transactions through the It’s likely we will be seeing a new local currency from OurNexChange system. Southampton. Like the towns of Lewes and Tot- nes, a local currency from Southampton would be Who needs money when you have a working system a compliment to the British pound and only used in of debits and credits in your local community? the local area. The smart minds behind the new cur- rency are the environmentally conscience “Transition Previously Miranda founded Ashland’s WebSpirit Southampton”. This is the local branch of the global Community (2,800 members) and has been working initiative and the Southampton group was formed in on the OurNexChange system for about two years. November. There is also a ‘Transition Town Totnes Their web site shows they are using a GETSystem, (TTT)’ and ‘Transition Town Lewes (TTL)’. (http://www.getsglobal.com) which offers a great deal of transparency. This new money, like all community A Transition Initiative is a community working together currency projects is not intended to be a replacement to look Peak Oil and Climate Change squarely in the of the U.S. dollar. eye and address this BIG question: Shire Hours (a ripple system) “for all those aspects of life that this community This is a monetary system that makes simple obliga- needs in order to sustain itself and thrive, how do we tions between friends as useful for making payments significantly increase resilience (to mitigate the effects as regular money.
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