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Sat 04 Apr 2009Towns revive local currencies to keep cash in the community
AMERICA:Across America, the greenback is being replaced by Cheers, Berkshares and Plenties, writes DENIS STAUNTON
WHILE MOST Americans wait for President Barack Obama’s economic recovery plan to bear fruit, some communities are taking matters into their own hands in an effort to protect local businesses and preserve their tax base. More than 75 towns across the country have launched local currencies, reviving an idea from the Depression that helped to keep commerce alive when the banks failed.
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