Re: Local Currency Article

["David Spitzley" <dspitzle@gw.wash.k12.mi.us>]

David
>>> Mbindnerdc@aol.com 12/09/02 14:35 PM >>>
As a private product it is perfectly legal.  However, to be clear, the
city cannot issue scrip, because local governments exist as a unit of
state government (even though they are independently elected) and states
cannot print or coin money.
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Ok, that's a useful clarification.  However, that begs the question of
how involved a local government could get in establishing such a system
of currency without overstepping the bounds of the law.  For example, at
the end of the article, it is mentioned that the local legal system has
ruled counterfeiting of the bills a crime.  I expect this could be
viewed as more a matter of copyright infringement than anything else,
but it still acts to preserve the value of the currency.  Could
government offices accept local currency?  Require it for payment of
fines (as a form of "privatized" community service)?  To what extent
does local government action to establish the currency as legal tender
overstep the lines?
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