Local Currency. Woergl Experiment with Local Currencies The Wörgl experiment that was conducted from Jlu 1932 to November 1933 is a classic example of the potential efficacy of local currencies. Wörgl is a small town in Austria with 4000 inhabitants that introduced a local script during the Great Depression. By 1932 unemployment in Wörgl had risen to 30%. The local government had amassed debts of 1.3 million Austrian Shillings against cash reserves of 40,000 AS. Local construction and civic maintenance had come to a standstill. In spite of the tangible benefits of the program, it met with stiff opposition from the regional socialist party and from the Austrian central bank, which opposed the local currency as an infringement on its powers over the currency.
Characteristics & Benefits The Wörgl experiment dramatically illustrates some of the common characteristics and major benefits of local currencies. Local currencies tend to circulate much more rapidly than national currencies. Modern local currencies. The worgl schillings. The following information has been archived from various web sites.The story of the Worgl Schillings is a PERFECT example of how a reform to the banking system ensures growth and is more stable then the current one.
It is also a perfect example to show how the private profit currency issuing banking cartels have long been attempted to stop us from having a secure monetary system. Regional currency will mean that they loose their monopoly on printing money. They are awareTof their own scam. After Worgl successfully thrived in the great depression by making their own regional currency, the government and banks immediately tried to prevent any one else from liberating themselves. Taken from - The Global ideas web site There was a time when people were so convinced that the earth was flat, that the idea that it was round was inconceivable.
The Worgl Schillings He recognised that all three problems could be solved if he could find the connecting link. That link was money. Miracle in the Town of Worgl. By Jeff Fritz, Staff Writer Flickr by Nicola since 1972 On July 5th, 1932, a miracle took hold in the small, Austrian town of Worgl.
The Great Depression was in full swing and of its population of nearly 5000, a third were jobless, and at about 200 families were bankrupt. An Experiment in Worgl - Alternative Money and Economics - tribe.net. The year was 1932; the world was gripped by the greatest economic depression that it had ever known.
One man in a small town decided to try something new to help the people of his community. In doing so the town made economic history. The town was Worgl in the Bavarian province of Germany. To understand the Worgl experiment you have to understand the man behind it. The towns mayor Michael Unterguggenberger. Michael Unterguggenberger Michael was born into an old Tyrolean peasant family. Wörgl Worgl was a small town that had grown rapidly in the early 1900’s. Silvio Gesell Michael read and re-read “The Natural Order” by Silvio Gesell. Worgl Money On July 31, 1932 the town administrator purchased the first lot of Bills from the Welfare Committee for a total face value of 1,800 Schillings and used it to pay wages. Worgl money was a stamp script money. The reverse side of the Bills were printed with the following declaration: “To all whom it may concern !
Worgl Success.