Odd Lots Meet The Mayor Who Printed His Own Currency To Fight The Virus
Jul 20, 2020
Wayne Fournier, the innovative Mayor of Tenino, Washington, devised a unique solution during the pandemic by printing wooden currency to revive local commerce. He shares the inspiration behind this initiative and its surprising effects on community resilience. The discussion highlights how this historical approach is helping businesses and residents weather financial storms. Wayne also reflects on the broader implications for local governance and the growing interest from other towns looking to implement similar strategies.
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Tenino's COVID-19 Response
- Tenino, a small town between Portland and Seattle, faced economic hardship during COVID-19, as businesses closed.
- To combat this, they revived a Great Depression-era practice, printing their own wooden currency using an 1870s printing press.
Tenino's Finances
- Tenino's annual budget is roughly $5 million, primarily funded by property taxes and spent on utilities and essential services.
- They printed $10,000 in wooden currency, which is a substantial amount for a town of 2,000, acting as a small-scale experiment.
Federal Aid Challenges
- Tenino received minimal CARES Act funding and struggles to compete for federal grants due to limited staff.
- Their small administrative team hinders their ability to navigate the bureaucratic process of federal aid applications.