The Totnes pound was pioneered by a group of local environmentalists led by Rob Hopkins and Naresh Giangrande. What’s the real story? Message from Totnes Pound Group 27/04/2014. Devon singer Ben Howard also became the face of the £10 note in May 2014. This doctor saw Covid hospital empty after fake death text, Five ways to sharpen your critical thinking, The road back to Wuhan. Totnes Pound. [2] Developed by Rob Hopkins and Naresh Giangrande the scheme was partly modelled on BerkShares. Read about our approach to external linking. Their most famous innovation is the Totnes Pound, a home-grown currency that is accepted by more than 70 local businesses. But the Brixton Pound and other recent schemes follow the example ten years ago of the Totnes Pound, a 'complementary currency': that is, one supplementing the national currency. A Totnes Pound was equal to one pound sterling and was backed by sterling held in a bank account. The Totnes pound is just one example of the kind of outside the box thinking that has kept this local community resilient in the face of austerity. Maps for a trail around Totnes are posted on the South Devon AONB site and the … The Brixton Pound was started in response to the global financial crisis. The Totnes pound (t£) was a complementary local currency,[1] intended to support the local economy of Totnes, a town in Devon, England. It follows his dramatic return to Russia, five months after a nerve agent attack almost killed him. providing food to over 50 families • over 70 businesses now accept the Totnes Pound • organised over 140 public events • more than 1,000 students at King Edward VI Community College have now participated in our ‘Transition Tales’ programme • over 75% of people in Totnes and Dartington are aware of TTT’s work • more than 600 Some transition towns have been involved in launching local currencies including the Totnes pound, the Lewes pound, the Stroud pound and the Brixton pound. What might seem like criminal activity was actually perfectly legal, with the notes being copies of a local pound note last in circulation in 1810. Order a zero miles pint at the Totnes Brewing Company Just got this great email… “I am treasurer of a church in Cumbria and we have received a Totnes Pound note in our collection box. Rome2rio makes travelling from Totnes (Station) to Dartmouth easy. The BBC is not responsible for the content of external sites. .css-14iz86j-BoldText{font-weight:bold;}A town which started printing its own money more than a decade ago has ended the project blaming the "cashless economy" for its decline. The journalist seized upon Totnes’ well-documented low take up of the MMR vaccine among five-year-olds and used this as a hook to focus on some of … A Cumbrian Totnes Pound Quandry. The Bristol Pound (£B) is a form of local, complementary, and/or community currency launched in Bristol, UK on 19 September 2012. The Totnes Pound was re-launched in June 2014 in denominations of t£1, t£5, t£10 and t£21. They set up a system in which … Dear Totnes trader, We are delighted to be able to let you know that the new paper Totnes Pounds (t£1, t£5, t£10 and t£21) will be officially launched in the Civic Hall on the evening of 20th May. [9], "The town already has its own currency, the Totnes pound" in, List of community currencies in the United Kingdom, https://www.independent.co.uk/news/uk/this-britain/they-dont-just-shop-local-in-totnes--they-have-their-very-own-currency-818586.html, "Totnes pound: Currency killed by 'cashless economy, "Banknotes, local currencies and central bank objectives", https://en.wikipedia.org/w/index.php?title=Totnes_pound&oldid=997355153, Articles with dead external links from July 2018, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License, To build resilience in the local economy by keeping money circulating in the community and building new relationships, To get people thinking and talking about how they spend their money, To encourage more local trade and thus reduce food and trade miles, To encourage tourists to use local businesses, This page was last edited on 31 December 2020, at 03:22. US-bound migrant caravan beaten back in Guatemala, Fortified US statehouses see scattered protests, One in, one out: How the White House changes hands. The city of Exeter also started a similar scheme in 2015 which stopped last year. Anyone can get involved. The Totnes Pound was launched as an initiative of Transition Town Totnes Economics and Livelihoods group in March 2007. Rome2rio is a door-to-door travel information and booking engine, helping you get to and from any location in the world. Is it worth anything or do we just throw it away?” How on earth did a Totnes Pound find itself in Cumbria, and why would someone think to put it in the church collection box? There is even a local currency: the Totnes Pound. Totnes Town Trail. Totnes is reputed to be the most eccentric town in Britain. 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The Totnes Pound was launched in March to emphasise the importance of relocalisation and to encourage people to attribute a value to the local economy. Things to do in Totnes. "However, if we measure the project's success in terms of the degree to which it provoked reflection on the importance of the local economy, then we have to say the Totnes Pound has been a real success.". The notes were first printed at a local printing plant using 75% recycled paper. [2] The group argued that "Economic localisation is considered to be a key aspect of the transition process, and local currency systems provide the opportunity to strengthen the local economy whilst preventing money from leaking out". An electromagnet is the basis of an electric motor. The first town in England to have its own currency has scrapped it - saying it was killed off by a cashless economy. Totnes Pound. © 2021 BBC. As fears for financial stability took hold during the recession, complementary currencies grew in popularity. .css-1hlxxic-PromoLink:link{color:inherit;}.css-1hlxxic-PromoLink:visited{color:#696969;}.css-1hlxxic-PromoLink:link,.css-1hlxxic-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-1hlxxic-PromoLink:link:hover,.css-1hlxxic-PromoLink:visited:hover,.css-1hlxxic-PromoLink:link:focus,.css-1hlxxic-PromoLink:visited:focus{color:#B80000;-webkit-text-decoration:underline;text-decoration:underline;}.css-1hlxxic-PromoLink:link::after,.css-1hlxxic-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}Town poised for its own currency, Wife shares heartbreak over Covid death of husband, Exmouth's 'Mr Snuggles', Tell us about your doorstep heroes that have gone above and beyond during the pandemic, China Fleet Country Club to become Covid vaccination centre, Parts of Devon suffer some of highest Covid case rate spikes in the country, The positive vibe from volunteering is truly uplifting Marc Jobson, Budleigh Hub manager, Northam murder suspect remanded in custody Court reporter, Information about BBC links to other news sites, Putin critic Alexei Navalny to be kept in custody. John Elford, of the Totnes Pound Steering Group, said: "Over time we have seen a decline in the use of the Totnes Pound, partly due to an increasingly cashless economy. ... KFC, or Primark, and certainly no pound shops. Organisers Transition Town Totnes said "an increasingly cashless economy" had contributed to the currency's decline. Launched in 2012, the Bristol Pound is the United Kingdom's first city-wide local currency. Totnes is a quaint and interesting little town,with many things going on to learn about-attractive town with lovely walks along the river both directions and not far away lovely coast,beaches and the Moors,the higher reaches of the river Dart to explore.plenty of locally grown and made delicious food-interesting shops,local arts and crafts,and any amount of therapies available. The scheme saw more than 30,000 Totnes pounds circulated among local businesses over the years. According to the Transition Town Totnes website, this meant that Totnes was "a community in a process of imagining and creating a future that addresses the twin challenges of diminishing oil and gas supplies and climate change, and creates the kind of community that we would all want to be part of".[4]. In all, the country is home to five local currency schemes: Totnes, Lewes, Stroud, Brixton and Bristol. A Totnes Pound was equal to one pound sterling and was backed by sterling held in a bank account. .css-1snjdh1-IconContainer{display:none;height:0.875em;width:0.875em;vertical-align:-0.0625em;margin-right:0.25em;}The policeman in a MAGA hat. Shoppers will be able to spend or redeem the pounds up until 30 June. 10th July 2020: Last date for automatic top up of Bristol Pound accounts on the old platform with BCU. But the gradual shift to a cashless society and a lack of uptake by local government agencies have ultimately led to the Totnes pound’s demise. 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