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| Joined: | Mon Nov 21st, 2005 |
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'The small town of Worgl in the Austrian Tyrol, suffering like every other town in Europe and America from the Great Depression, took the unlikely step of issuing its own currency'
http://www.globalideasbank.org/site/bank/idea.php?ideaId=904
Although the experiment was terminated in Austria, it was noted and tried elsewhere. In Canada, for instance, the government of the Province of Alberta set up a provincial depreciating currency in the mid-1930s in the form of Prosperity Certificates.
The 'danger' of its success prompted the central government to ban it.