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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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“We basically treat the wood money just like cash,” Chris Hamilton, the store manager at Tenino Market Fresh, told 【 - Free Stock Market Forecasting Tools 】. 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 Stock Market Forecasting Tools 】. “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.

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“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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Leonard Augsburger, the project coordinator of the Newman Numismatic Portal at Washington University in St. Louis, told 【 - Free Stock Market Forecasting Tools 】 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 Stock Market Forecasting Tools 】.

“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 Stock Market Forecasting Tools 】 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 Stock Market Forecasting Tools 】.

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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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