Saturday, January 17, 2004
Community Curriency
Depreciating Community-owned Currencies
WHEATLEY, Oxford, Jan. 17, 2004 (Source: Global Ideas Bank)(Here's a story we found on the Internet by one of our favorite writers and community builders) In the early 1930s the small town of Worgl in the Austrian Tyrol, suffering like every other town in Europe and America from the Great Depression, took the unlikely step of issuing its own currency. Its burgomaster, Michael Unterguggenberger, faced an empty treasury, because the unemployed citizens could not pay their taxes; roads and bridges needed repair and parks needed maintenance, for which the town could not pay; and idle men and women earned no wages. He recognised that all three problems could be solved if he could find the connecting link. That link was money. The three problems coexisted because no one had any of it, and his simple solution was to create money locally. Read more...
Depreciating Community-owned Currencies
WHEATLEY, Oxford, Jan. 17, 2004 (Source: Global Ideas Bank)(Here's a story we found on the Internet by one of our favorite writers and community builders) In the early 1930s the small town of Worgl in the Austrian Tyrol, suffering like every other town in Europe and America from the Great Depression, took the unlikely step of issuing its own currency. Its burgomaster, Michael Unterguggenberger, faced an empty treasury, because the unemployed citizens could not pay their taxes; roads and bridges needed repair and parks needed maintenance, for which the town could not pay; and idle men and women earned no wages. He recognised that all three problems could be solved if he could find the connecting link. That link was money. The three problems coexisted because no one had any of it, and his simple solution was to create money locally. Read more...
