Local Currencies Try to Keep Spending Close to Home

A handful of towns are reviving local currencies designed to circulate only among neighborhood businesses.The notes, redeemable only at participating local shops and restaurants, are meant to slow the flow of spending out of a community and into national chains or online retailers. Organizers say the schemes work best when paired with a modest discount for using the local currency, giving residents a real incentive beyond civic pride. Skeptics point out that convenience usually wins out over principle, and that most local currency programs stay a niche curiosity rather than a serious economic force.