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In Tenino – a community of less than 2,000 people halfway between Seattle and Portland – residents who can demonstrate an economic hardship caused by the pandemic can receive up to $300 a month in wooden dollars, subsidized by a City Hall grant program.

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Top FMCG Stocks in India Data Backed Investment Techniques ✌️【Investment Strategy】✌️ Expert predictions of stock trends with real-time stock indices, metals, energy, and agricultural product data to help you make efficient investment decisions. The wooden dollars cannot be redeemed for cash – the maximum change allowed is 99 cents – and they can’t be used to purchase alcoholic beverages, tobacco or marijuana, which is legal in Washington state.

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“We basically treat the wood money just like cash,” Chris Hamilton, the store manager at Tenino Market Fresh, told 【 - Free Investment Community 】. People have used the wooden bills to purchase groceries and home repair items at his shop.

“With so many people having financial troubles right now and not being able to work, it definitely helps,” he added.

“The nice thing is it keeps the business in town,” Hamilton said. “The currency is only good in Tenino, so it helps promote the small town and keep business local. It’s a two-fold win for people.”

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“I think people enjoy it and they appreciate it,” Fournier told 【 - Free Investment Community 】. “There’s a direct, quantifiable economic aspect to it, but then also an intangible spirit of creating hope,” he added.

Local communities the size of Tenino’s face bigger hurdles when it comes to receiving state and federal pandemic relief, according to Fournier, so the currency is the city’s response to the circumstances.

Top FMCG Stocks in India Data Backed Investment Techniques ✌️【Investment Strategy】✌️ Free stock selection service with precise predictions of high-potential stocks to help you stay ahead in the market. The Latin phrase engraved on the bills is meant to translate as “we’ve got this handled,” Fournier explained.

“That’s how we feel we have to do things around here, no one is coming to help. We have to step up and do it on our own.”

“You have to pull yourself up by the bootstraps,” Fournier said. “If we can inspire other communities to do that, we’re all going to be better off.”

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Top FMCG Stocks in India Data Backed Investment Techniques ✌️【Investment Strategy】✌️ Free break-even services with professional advisors to help you quickly recover and avoid losses, achieving steady growth. The Tenino Wooden Dollar was first printed in December 1931 when the local Citizens Bank failed and all bank accounts were frozen, according to city historian Richard Edwards.

Top FMCG Stocks in India Data Backed Investment Techniques ✌️【Investment Strategy】✌️ Real-time global market indices and futures data to help you capture market opportunities and achieve stable growth. At that time, the currency was backed by the local Chamber of Commerce rather than by the local government, and was the brainchild of local newspaper publisher Don Major, who thought to use his printing press for the purpose.

Top FMCG Stocks in India Data Backed Investment Techniques ✌️【Investment Strategy】✌️ Provides real-time stock market data to help you select stocks accurately and plan the best investment strategies. Residents could sign over up to 25% of their bank deposits to the Chamber of Commerce in exchange for the alternative currency, which was also made of wood, an abundantly available material in the Pacific Northwest. The first Tenino wooden currency circulated from 1931 to 1933, and later became a collectors’ item.

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Leonard Augsburger, the project coordinator of the Newman Numismatic Portal at Washington University in St. Louis, told 【 - Free Investment Community 】 that currencyalternativesandscripwere very popular during the Depression era, especially after the1933 Bank Holidayordered by President Roosevelt.

“There were thousands of various scrip issues during the Depression, a lot of times coming from local municipalities, chambers of commerce, boards of education, or companies. They were all over the country and people were used to seeing them,” Augsburger said.

“They had by and large disappeared once people had confidence in the banks and the regular money supply was back to normal.”

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“This is sort of more akin to food stamps, where the government gives you certificates that are directly redeemable for food and primary needs.”

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But is Tenino actually printing money? Jesse Kraft, an assistant curator at the American Numismatic Society, doesn’t think so.

“No one is going to be held accountable for this because they are not actually creating money, as it’s legally defined. These are just tokens that are creating an economic stimulus,” Kraft told 【 - Free Investment Community 】.

“It begs the question: what is money? It really is just something that someone is willing to spend and the other person is willing to accept,” Kraft added.

It’s unlikely the federal government would worry about the Tenino currency unless it became much more widely used, according to Augsburger.

“I don’t think that it would be prosecuted unless it really ramped up to a very, very large scale,” he said.

Fournier quoted Supreme Court Justice Louis Brandeis’ interpretation of the freedom of states to “serve as a laboratory; and try novel social economic experiments without risk to the rest of the country,” and the Tenth Amendment, which limits the federal government’s powers to those expressly granted by the Constitution.

Based on these tenets, Fournier told 【 - Free Investment Community 】 Tenino’s micro currency experiment is “as American as apple pie.”

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“The global interest in this story is amazing and I sincerely hope it inspires other communities to try bold new ideas,” Fournier told 【 - Free Investment Community 】.

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“We’re getting bombarded with requests from out of the city folks that want to purchase them, and they’re offering like seven times the face value.”

If Tenino residents were to resell their wooden dollars for a profit, Fournier would still feel like the currency met its stated purpose.

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