Tuesday, September 16, 2008

Local Currency - Localized

clipped from news.bbc.co.uk

Lewes launches its own currency

An East Sussex town is introducing its own currency in an effort to encourage shoppers to support the local economy.

The Lewes Pound works like a voucher, with one Lewes pound note worth the same as a pound sterling. Up to 10,000 notes have been printed.

The currency will be accepted in local participating stores and can be bought in four outlets in the town.

More than 70 local traders have agreed to accept the Lewes Pound as a complementary currency to sterling.

The town had its own currency between 1789 and 1895.

A currency for the town. Brilliant idea. The logic is simple, use this local currency for local sellers and shops only and the economy shall strengthen.Thats a great vision. But the problem here is that people are attracted towards exclusivity; they, instead of spending it are sparing the same. They are collecting it for Christmas gifts and selling on e-bay. This has to change .People seem to be sure that its going to be temporary. The organizers must assure the people that its doomed to permanency and that its not more valuable than the actual pound. Creating awareness and conducting programs to promote the same will prove to be fruitful as the vision behind this is too beautiful to be wasted. I myself am hunting for a Lewes dollar or two in the price of a pound

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