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MakeTheStand.com :: View topic - New age town in U.S. embraces dollar alternative
Joined: Jun 16, 2007
Posts: 5
Location: Metro detoilet
Posted:
Wed Jun 20, 2007 10:58 am
This newsclip jumped right out at me on my yahoo start page today. I gives me some hope that at least one town in the U.S.A. is starting to reject federal notes. Keep it local, a global marketplace has not worked so far.
New age town in U.S. embraces dollar alternative
GREAT BARRINGTON, Massachusetts (Reuters) - A walk down Main Street in this New England town calls to mind the pictures of Norman Rockwell, who lived nearby and chronicled small-town American life in the mid-20th Century.
So it is fitting that the artist's face adorns the 50 BerkShares note, one of five denominations in a currency adopted by towns in western Massachusetts to support locally owned businesses over national chains.
"I just love the feel of using a local currency," said Trice Atchison, 43, a teacher who used BerkShares to buy a snack at a cafe in Great Barrington, a town of about 7,400 people. "It keeps the profit within the community."
There are about 844,000 BerkShares in circulation, worth $759,600 at the fixed exchange rate of 1 BerkShare to 90 U.S. cents, according to program organizers. The paper scrip is available in denominations of one, five, 10, 20 and 50.
In their 10 months of circulation, they've become a regular feature of the local economy. Businesses that accept BerkShares treat them interchangeably with dollars: a $1 cup of coffee sells for 1 BerkShare, a 10 percent discount for people paying in BerkShares.
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