Lewes Pound
Encyclopedia
The Lewes Pound is a local currency
in use in the town of Lewes, East Sussex. Inspired by the Totnes pound
and BerkShare, the currency was introduced with the blessing of the town council in September 2008 by Transition Town
Lewes - a community response to the challenges of climate change
and peak oil
.
On 3 July 2009, it was announced that the scheme was to be extended. New notes of £5, £10 and £21 denominations would be issued.
for substantially higher values.
with an image of Lewes resident Tom Paine and a quotation of his: "We have it in our power to build the world anew". On the back is a picture of Lewes Castle
. The notes are printed on traditional banknote paper and have a number of security features including unique numbering, watermarks and heat marks.
Local currency
In economics, a local currency, in its common usage, is a currency not backed by a national government , and intended to trade only in a small area. As a tool of fiscal localism, local moneys can raise awareness of the state of the local economy, especially among those who may be unfamiliar or...
in use in the town of Lewes, East Sussex. Inspired by the Totnes pound
Totnes pound
The Totnes pound is an alternative local currency, intended to support the local economy of Totnes, a town in Devon, UK.The initiative is part of the Transition Towns concept, of which Totnes is a pioneer...
and BerkShare, the currency was introduced with the blessing of the town council in September 2008 by Transition Town
Transition Towns
Transition Towns is a grassroots network of communities that are working to build resilience in response to peak oil, climate destruction, and economic instability...
Lewes - a community response to the challenges of climate change
Climate change
Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions or the distribution of events around that average...
and peak oil
Peak oil
Peak oil is the point in time when the maximum rate of global petroleum extraction is reached, after which the rate of production enters terminal decline. This concept is based on the observed production rates of individual oil wells, projected reserves and the combined production rate of a field...
.
History
Lewes first introduced its own currency in 1789, but this was discontinued in 1895 along with a number of other local currencies. Its reintroduction in September 2008 achieved national media coverage.On 3 July 2009, it was announced that the scheme was to be extended. New notes of £5, £10 and £21 denominations would be issued.
Value
The value of the Lewes Pound is fixed at £1 Sterling, and as of January 2009 may be used in any of approximately 130 shops in Lewes (having increased from 70 when the currency was introduced). Despite its nominal value, some businesses charge a lesser fee in Lewes Pounds, and some of the earliest notes have been sold (for example) on eBayEBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
for substantially higher values.
Appearance
The front features a picture of the South DownsSouth Downs
The South Downs is a range of chalk hills that extends for about across the south-eastern coastal counties of England from the Itchen Valley of Hampshire in the west to Beachy Head, near Eastbourne, East Sussex, in the east. It is bounded on its northern side by a steep escarpment, from whose...
with an image of Lewes resident Tom Paine and a quotation of his: "We have it in our power to build the world anew". On the back is a picture of Lewes Castle
Lewes Castle
Lewes Castle stands at the highest point of Lewes, East Sussex, England on an artificial mound constructed with chalk blocks. It was originally called Bray Castle.-History:...
. The notes are printed on traditional banknote paper and have a number of security features including unique numbering, watermarks and heat marks.
Criticism
The Lewes Pound and the Transition Towns movement have received criticism for a failure to address the needs of the wider Lewes population, especially lower socio-economic groups. Such local currency initiatives have been more widely criticized in light of limited success in stimulating new spending in local economies and as an unrealistic strategy to reduce carbon emissions.See also
- LewesLewesLewes is the county town of East Sussex, England and historically of all of Sussex. It is a civil parish and is the centre of the Lewes local government district. The settlement has a history as a bridging point and as a market town, and today as a communications hub and tourist-oriented town...
- Stroud PoundStroud PoundThe Stroud Pound is a local currency in use in Stroud, Gloucestershire. Unveiled on 12 September 2009, the scheme is the third local currency scheme introduced in England in recent years after the Totnes Pound and the Lewes Pound.-History:...
- Totnes poundTotnes poundThe Totnes pound is an alternative local currency, intended to support the local economy of Totnes, a town in Devon, UK.The initiative is part of the Transition Towns concept, of which Totnes is a pioneer...
- BerkSharesBerkSharesBerkShares is a local currency that circulates in The Berkshires region of Massachusetts. It was launched September 29, 2006 by BerkShares Inc., with research and development assistance from the New Economics Institute. The BerkShares website lists over 370 businesses in Berkshire County that...
- Transition TownsTransition TownsTransition Towns is a grassroots network of communities that are working to build resilience in response to peak oil, climate destruction, and economic instability...
- Baroon dollar
- Toronto DollarToronto dollarThe Toronto Dollar, founded in December 1998, is a paper local currency used in Toronto, Ontario and backed by the Canadian dollar.The currency is administered by Toronto Dollar Community Projects Inc., a not-for-profit community group, and is a project of St. Lawrence Works.The currency can be...