Just like the Brixton Pound, Ithaca Hours is a local currency system that promotes local economic strength and community reliance that will support economic and social justice, ecology, community participation and human aspirations.

In Ithaca, New York, the group who started the alternative currency have gained control of the social and environmental effects of commerce by issuing over $110,000 of their own local paper money, to thousands of residents, since 1991. Tens of thousands of purchases and many new friendships have been made with this cash, and millions of dollars value of local trading has been added to the Grassroots National Product. They printed their own money because they watched Federal dollars come to town, shake a few hands, then leave to buy rainforest lumber and fight wars. Ithaca’s Hours, by contrast, stay in the region to help people hire each other. While dollars make people increasingly dependent on transnational corporations and bankers, Hours reinforce community trading and expand commerce which is more accountable to the concerns for ecology and social justice.

Here’s how it works: the Ithaca Hour is Ithaca’s $10.00 bill, because ten dollars per hour is the average of wages/salaries in Tompkins County. These Hour notes, in five denominations, buy plumbing, carpentry, electrical work, roofing, nursing, chiropractic, child care, car and bike repair, food, eyeglasses, firewood, gifts, and thousands of other goods and services. Credit unions accept them for mortgage and loan fees. People pay rent with Hours. The best restaurants take them, as do movie theaters, bowling alleys, two large locally-owned grocery stores, the local hospital, many garage sales, 55 farmer’s market vendors, the Chamber of Commerce, and 300 other businesses. Hundreds more have earned and spent Hours who are not in the Hour Town directory.

The Success Stories of 300 participants published so far testify to the acts of generosity and community that the system prompts. A community is being made while making a living. As the Hours do so, they relieve the social desperation which has led to compulsive shopping and wasted resources. At the same time Ithaca’s locally-owned stores, which keep more wealth local, make sales and get spending power they otherwise would not have. And over $10,000 of local currency has been donated to over 100 community organizations so far, by the elected Hour board of directors. We regard Ithaca’s Hours as real money, backed by real people, real time, real skills and tools. Dollars, by contrast, are funny money, backed no longer by gold or silver but by less than nothing- $8.4 trillion of national debt.

HOURS expand the local money supply
HOURS promote and expand local shopping, with an endless multiplier
HOURS double the local minimum wage to $10.00, benefitting not only workers but businesses as well, who find new and loyal customers.
HOURS enable shoppers to afford premium prices for locally-crafted goods and for locally-grown organic food.
HOURS help start new businesses and jobs
HOURS reduce dependence on imports and transport fuels
HOURS make grants to nonprofit community organizations
HOURS make zero-interest loans
HOURS stimulate community pride

http://www.ithacahours.org/index.php