Re: Local Currency Article

["Maria B. Pellerano" <maria@rachel.org>]

Hi,

I used to live in Annapolis, Maryland in a section of town called Eastport.
There once was a boatyard in Eastport that made PT boats during World War II
and then luxury yachts.  The boatyard owner was trying to make a point about
how much his local payroll helped the local economy so for a period of time
he paid his workers with two dollar bills (rare even then).  Anyway he
proved his point when the workers started spending their two dollar bills.
Local currencies are very useful for showing how much local money circulates
and how it helps the local economy.  The following URLs will give you an
idea about how different systems work:

http://timedollar.org/

http://www.lightlink.com/hours/ithacahours/

http://www.ithacahours.com/otherhours.html

http://www.gmlets.u-net.com/

-- Maria
=====================================================
Maria Pellerano, Associate Director
Environmental Research Foundation
Rachel's Environment & Health News
P.O. Box 160, New Brunswick, NJ  08903-0160
Phone: (732) 828-9995; Fax: (732) 791-4603
E-mail: maria@rachel.org; Web site: http://www.rachel.org/

Member of National Writers Union / UAW Local 1981 / AFL-CIO
=====================================================





----- Original Message -----
From: "David Spitzley" <dspitzle@gw.wash.k12.mi.us>
To: <EOsubnat@cog.kent.edu>
Sent: Monday, December 09, 2002 5:13 PM
Subject: Re: Local Currency Article


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.
----------------------------------

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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