During the early years of colonial America during the mid and late 1700s, it was a common practice for a region / county to mint it’s own local currency, which was used in addition to the dollar, or in exchange thereof.
It was a practice that encouraged spending in the local economy, raised the level of regional pride in craftsmanship and commerce, and provided a back-up local currency and means of exchange for goods and services.
At a reasonable 5% discount rate offered, $100 dollars will procure $105 Berkshares, allowing a nice little tip for local shoppers who want to use the Berkshare when they spend and shop locally in Berkshire County.
Across the world and in the US, many locales are now returning to this time honored practice, and not a moment too soon, as our own national currency is steadily debauched by over-printing and over-circulation of dollars, ever decreasing in value. Here’s the story of the recent re-emeregence and popularity of the newly re-minted Massachusetts Berkshire “Berkshare” local bank note.
Tags: local currency, regional banknotes, regional currencies, alternatives to the dollar, Massachusetts Berkshares, local currency Massachusetts, jobs, commerce, trade, economy, New England
- Berkshire County eschews dollars for own currency – BerkShares (washingtontimes.com)
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- StreetsOfLove-Unconventional – Angel Lucci – Local Currencies – BerkShares – Bristol Pounds – The Gaia Plan: A Basic Income Guarantee – So Why Not I-OPEEN? Are you a Member Yet? – 7 November 2013 (lucas2012infos.wordpress.com)
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- Local Currencies – Replacing Scarcity with Trust – Money as Debt (giftoftruth.wordpress.com)
- Could local currency be the future of money? (salon.com)