Letter to the Editor: Vashon currency could add value
February 3, 2009 · Updated 5:00 PM
Issuing a bond in U.S. dollars to rebuild the high school will create future hardship. But that is not the only means, as there could be a parallel process in community currency: Vashon investors put up U.S. dollars, the dollars purchase stockpiles of critical materials at present prices, and the investors get repaid in community currency. The benefits of a parallel process go beyond the obvious merit of sidestepping inflation. The extra benefit is the economy resulting by use of Vashon talent compensated with community currency for all phases of design and construction. And there is a little engine of gain hidden in the parallel process. Islanders paying the tax in community currency to investors who have with good-will invested in Vashon will repay those investors with cups filled to overflowing.
— Tom Herring