INDEPENDENT NEWS

Local Dollars A Powerful Tool For Communities

Published: Wed 17 May 2000 09:05 AM
"The Chatham Islands dollar initiative, launched this week, points the way for local communities to have control of their money," said John Wright MP, leader of the Democratic Party (previously Social Credit) a partner party of the Alliance.
"On the Chatham Islands, people can now chose to offer a local currency as payment for goods and services. That is a powerful tool that enables local people to exert control over their money.
"And it is non-inflationary. We have that on the word of Dr Don Brash who has repeatedly testified that the amount of money in circulation does not affect the CPI.
"It is essential that currency is accepted by the community in which it used. It is the community having confidence in it which gives it value.
"In practical terms a person selling goods or services is not obliged to accept either New Zealand dollars nor Chatham Islands dollars. But they can chose to accept either.
ends

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