A Denver Post article in Friday’s paper discusses how two mountain towns have printed their own money to encourage locals to spend locally.
I’s not really money, it’s called scrip.
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The cities like it because when consumers spend more locally, that means more taxes to fill city coffers. The consumers like it because they get 20 percent off everything they buy. And some merchants enhance the deal by offering Butte Buck specials.
The Post reports that several towns in Colorado have tried similar programs with scattered results, so the program isn’t perfect.
On the other hand, printing scrip isn’t new. Notes were issued during the Civil War when people were hoarding gold and silver. During the Great Depression, scrip was printed at time when banks were failing and the economy was in the tank.
Let’s face it, lots of people are trying all kinds of things to improve the economy globally, nationally and locally.
If it works, the local governments will see a return on their investments. The investment by merchants is minimal, so they should also see a return. Shoppers have nothing to lose as long as the program is honored.
The program can start small and see how it works. The Colorado effort started at $10,000. That would be $3,300 or so from the three Valley municipalities.
Perhaps the big box stores won’t be able to participate due to corporate rules, but maybe that’s not so bad. Maybe an influx of Mat-Su Money would direct shoppers to some of the Valley’s smaller shops.
It would be foolhardy to think scrip can replace dollars in the Valley, but if merchants and the local chambers of commerce really want to encourage local shopping, and they do, then maybe they should give scrip some research.
For those interested in seeing the Denver Post piece, go to www.denverpost.com/ci_13219440.


Comments
8 comment(s)Lack of products wrote on Sep 2, 2009 6:15 PM:
If wrote on Sep 2, 2009 6:08 PM:
the products are good
the service is great
the business is ethical
additonal cost is worth it
We have too many businesses that give terrible service, sloppy workmanship and sell based on longevity and local loyalty. Let them go out of business.
Generally the new comers are doing a better job then the "entitled" Life Longers. They know what service and quality means. "
Oops wrote on Aug 31, 2009 9:21 PM:
made in mat-su wrote on Aug 31, 2009 12:52 PM:
Build it and they will come wrote on Aug 31, 2009 10:15 AM:
Dave wrote on Aug 31, 2009 9:45 AM:
First Editorial... wrote on Aug 30, 2009 7:07 PM:
I sort of like this idea. Of course, there are always people like "Dave" below that would prefer to give credit to those willing to corrupt the system, but I think the people of the valley are better than that. "
Dave wrote on Aug 30, 2009 7:23 AM: