Yet our greater self-reliance, rather than isolating Ithaca, gives us more potential to reach outward with ecological export industry. We can capitalise new businesses with loans of our own cash. HOUR loans are made without interest charges. Ithaca's money honors local features we respect, like native flowers, powerful waterfalls, crafts, farms and our children. Our commemorative HOUR is the first paper money in the U.S. to honor an African-American.
Local currency is also lots of work and responsibility.
To give other communities a boost, we've been providing a Hometown Money Starter Kit. We've sent the kit to over 600 communities in 47 states so far, and our example is becoming international. In this book Edgar Cahn, the self-acknowledged creator of Time Dollars, attempts to lay out, in three sections, the influences behind his idea, its economic reasoning and its actual functioning in the real world. Cahn's innovative social currency is based on the principle of one hour worked being equal to one Time Dollar credit. You can give a rating to this scheme overall.