‘Local’ is a movement, so maybe local money?

[underpants]

http://www.timesdispatch.com/rtd/business/national_international/article/TOGO16_20090115-214415/179660/

GREAT BARRINGTON, Mass. Diana Felber brought her groceries to the checkout and counted out her cash -- purple, blue and green bills that are good only at businesses in western Massachusetts.

Known as "BerkShares," the colorful currency is printed by a nonprofit group to encourage people to spend close to home in the state's Berkshire region. Customers who use the money also get a built-in 10 percent discount, since they can get 100 BerkShares for just $90 at local banks.

National retail chains in southern Berkshire County have not signed up to accept the currency, and BerkShares cannot be traded online with out-of-state merchants, Witt said.

"I'd much rather take BerkShares than you giving me your credit card," said Steffen Root, co-owner of Berkshire Bike & Board, citing card-processing fees. "I think that we can keep our money local, it's a good thing -- especially with our economy where it's going."

Interest in local currencies often spikes during a recession as communities scramble to promote their businesses and curb unemployment, said Lewis D. Solomon, professor at the George Washington University Law School and author of "Rethinking our Centralized Monetary System: The Case for a System of Local Currencies."

The U.S. Constitution prohibits states from coining their own currency, but it is silent on local paper money. The courts have allowed private groups to print complementary currency, provided it does not compete with federal money and does not circulate beyond a limited area.

For accounting purposes, the Internal Revenue Service requires that income received in BerkShares and other local currencies be declared in U.S. dollars.

The Massachusetts program is one of several local currency systems, including those in New York, California, Kansas, Michigan, Oregon, Pennsylvania and Wisconsin.

[my2sense]

1. At least someone has a model for

us to use in the event the dollar crashes.

[BlooInBloo]

2. hahahaha!

EDIT: It's funny because they haven't even *moved* the deck chairs. They've only *painted* them. http://www.slate.com/id/1937/

[FirstLight]

3. That's easier than getting paid in chickens!

...my mom saiud during the depression her mom would do mending for eggs and such, some of which they would raise, butcher and use to barter with for things like flour, firewood, etc

welcome to the world of WAMPUM, circa 2009!!!

[trthnd4jstc]

4. Fascinating. Thanks for the post.

[arcadian]

5. All money used to be issued by local banks.

I can't rememeber when it was issued in particular but at a coin shop I saw a 10 dollar bill that looked like a modern 10 with Hamilton and everything except where the Federal reserve mark was located there was the name of a local bank.

[underpants]

6. Dixie

"Dixie" was the name of a coinage issued in Louisiana I believe (typing this before I google) and it became slang for the south.

Localities used to issue their own money. I think banks did too.

Okay loked but couldn't find it. I saw an old coin at a gift shop near Monticello and it was a "Dixie" my stepfather, a Civil War enthusiast, told me what I posted above-the lady at the gift shop (lots of old "rare" coins) agreed.