Wednesday, 1 October 2008

Alternatives to Banking, Part 1 - Local Currency

"A south Devon town has taken a step towards having its own currency after a month-long experiment.

Three hundred Totnes pounds were printed in March for circulation only in local outlets.

Eighteen shops joined Transition Town Totnes (TTT), a new group campaigning for a more self-sufficient community.

The experiment, which has just finished, could be followed up by another print-run of 3,000 notes later this year. TTT based the idea on a similar scheme in the Southern Berkshire region of Massachusetts, US. There the alternative currency, Berkshares, can be swapped for dollars in banks

In Totnes TTT gave away 300 notes at a public meeting in March.

Marjana Kos, of TTT, said: "It's keeping wealth here. It's keeping local trade alive and supporting local businesses. Louise King, manager of the Riverford farm shop in Totnes, said: "We like our own products, so it just seems right to have our own currency."

What might seem like criminal activity is actually perfectly legal - the notes were copies of a pound note last in circulation in 1810. Paul Hall, of Colourworks, which printed the notes, said: "We thought it was a little bit strange, printers aren't usually asked to produce currency, but once it was explained that it was a reproduction of a Totnes pound as opposed to a Bank of England pound, we were happy to do that.""

Full story and video here -


And a link for the transition towns project -

Self explanatory, so I'll just say "hello."

"Hello. "

Have a good one,



Anonymous said...

Thanks for writing a excellent blog. Keep up the good work!

I enjoy reading your posts on HPC and you say you don't have a bank account.
Please could you explain in a future blog how you manager to live without a bank account It will be very interesting to find out.

Injin said...

That's a great idea, thanks!

I'll get the alternatives out of the way then do that. :)