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These wooden notes can only be spent in Tenino, Washington.
Ted S. Warren/AP Images
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Making Their Own Money
The Covid-19 pandemic has dealt a mighty blow to global economies—but officials in Tenino, Washington, are trying a creative solution to get money flowing again. The city has printed its own wooden banknotes, each worth $25. Residents who lost money as a result of the pandemic are given up to $300 worth each month, which many local businesses—including restaurants, gas stations, and grocery stores—now accept. The businesses can then trade the notes in for U.S. dollars at City Hall. So far, about $10,000 worth of notes have been printed. It may sound like a wild idea, but Tenino successfully ran a similar program during the Great Depression. This time around, the alternative currency seems to be providing an emotional boost to the city. “The idea with this scheme is that we’ll stand together as a community and provide relief to individuals that need it while fueling consumption,” Wayne Fournier, Tenino’s mayor, told Bloomberg CityLab. “We want this to be a symbol of hope.”