In contrast, U.S.-based corporations pay top management as much as 200 times more than the lowest paid workers. It wasn t until 1913 that the Federal Reserve Act created a single national currency along with the Federal Reserve Bank. Before 1913, there were many currencies issued by many regional banks. Windham had its own currency then, issued by the Windham Bank, and it had its own currency again during the Depression. At that time, local currencies, known as scrip, became popular again as dollars became scarce.
Local currencies are taxable the same as cash.
It is the responsibility of each business to record and declare local money income as if it were in dollars. Of course, the IRS and the state of Connecticut will accept U.S. dollars only. Precautions have been taken to avoid counterfeiting. Thread City Bread is printed on special paper, in two colors, with stamped serial numbers, and then embossed. Also, we believe there's little motivation to counterfeit Bread.