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Show Using Substitute Currency Something novel comes from Yellow Yel-low Springs, Ohio, where a "substitute "sub-stitute currency" is reported to be enjoying success and, assisting a fanning area in its business operations. opera-tions. Moreover, the principals Involved In-volved have been given the endorsement endorse-ment of Dr. Irving Fisher, of Yale University, who recently paid a visit to the area to see how this scrip plan works. As outlined by the Associated Press the system works like this: A farmer having 100 bushels of potatoes, but no cash, wants a carpenter car-penter to repair his barn. The carpenter, car-penter, perhaps otherwise unemployed, unem-ployed, is willing to take his pay in commodities, rather than cash, but does not want only potatoes. So the farmer sells his potatoes to the exchange, which pays him in scrip, the farmer then hires the carpenter, paying wages with this scrip, and the carpenter spends the scrip at the exchange buying potatoes or other things he needs. If either the carpenter or the farmer has some scrip left over he can keep it indefinitely and spend it any time he wants to. Scrip of the Yellow Springs Exchange Ex-change is issued on parchment bend paper in denominations cf 10 cents, 25 cents, . 50 cents, $1 and $3. So popular has the store become that it has had to enlarge its space twice in the last two months. It has now about $1,000 worth of scrip in circulation and is doing about $1,000 worth of business a week, about one-third of which is in regular cash. |