Local Currencies

    In an attempt to support local businesses, I did just venture out for a bit and went to the abandoned Kellogg factory which now is a destination of sorts - do have a look and visit soon, 100 Kellogg Lane.  The line-up was too long and I am now again back blogging to avoid shopping. 

   I gather that a number of local vendors were available and, as an incentive, early arrivers were to be given "Merry Money" to spend. It was the mention of funny currency that drew my attention and provides me with the excuse to blog. I am sure you have seen examples of local currencies before and you certainly have held Canadian Tire money in your hands. If you wish to go downtown shopping you should get some Downtown Dollars.  As we become more concerned with buying locally and buying Canadian, we are likely to see more examples of local money which will probably look as legitimate as those colourful ones printed at the mint.

LETS - Local Exchange Trading System

   LETS is the technical term and here is the place to learn all about Local Currency Programs. It was not such an easy subject to find information about a decade ago. I recall students asking about it for a project and was able to find some information. It was written up for a little newsletter we produced: The Bottom Feeder, July 2006. Here is what was provided:

LETS

This acronym was new to us and discovered while assisting in an undergraduate research project that was tougher than we expected. Researching the subject is much easier if you look at some of the sources we provide here. LETS typically stands for "Local Exchange Trading System" and less frequently for "Local Employment and Trading System". A good definition is found in a book about the subject: Bridges into Work? An Evaluation of Local Exchange Trading Systems, by Colin Williams, et. al. "Local Exchange Trading Systems (LETS) are non-profit making associations that use local currencies to encourage members to trade services and goods with each other" (p.vi). Two other books in our collections relate directly to the subject: Community and Money: Men and Women Making Change, by Mary-Beth Raddon and Currency Movements as a Challenge to Globalisation? A Case Study of Manchester's Local Currency Networks, by Peter North. While the former book does give some Canadian examples, we will provide here some links to Canadian sites where "community currencies" or "alternative money" is being used in 2006. For information about "Toronto Dollars" see the site of Toronto Dollar Community Projects Inc.

"Calgary Dollars" are described here: http://www.calgarydollars.ca . The Victoria LETS is found at http://www.lets.victoria.bc.ca To find additional examples and to learn more about the use of community currencies see the very interesting journal we discovered along the way. Links to the International Journal of Community Currency Research are provided by searching that title in our catalogue. If you happen to be heading to the West Coast, you can buy some Salt Spring Dollars at http://www.saltspringdollars.com.

  Although the URLS provided are unlikely to work, you can find many local currencies. Here, for example, is information about Salt Spring Dollars and here is an article about how they were attempting to use them in Comox: "Why Comox Valley Is Launching Its Own Currency." 

  Now I think I have stalled long enough and won't have to go out shopping again today.