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Welcome to the Stroud Pound website.

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STROUD POUND – DEMURRAGE

 

 

 

 

What is demurrage?

Demurrage refers to a reduction over time in the value of a currency.  It is a sort of negative interest.

 

How does demurrage apply to Stroud Pounds?

Stroud Pounds lose 3% of their value every six months.  The first time this will happen will be on April 1st 2010.

 

How will it work?

The Stroud Pound vouchers become invalid from April 4th unless revalidated by a special stamp (amounting to 3% of the note’s value) which will have to be purchased and stuck on the note.  This means putting a 3p stamp on a £1, 6p on a £2, 15p on a £5, and 30p on a £10 note.

 

Where do I put the stamp?

The stamp you purchase for a £1 note will need to be stuck on the allocated 3p square beneath the word ‘april’.  A £2 Stroud Pound has a space for 6p and so on.

 

Will my money be worthless after April 1st without a stamp?

Yes. After April 1st traders and businesses will not accept Stroud Pounds unless they are validated with a stamp.

 

I can’t be bothered with sticking stamps on my notes.

Spend your unstamped Stroud Pounds before April 1st!   Any Stroud Pounds issued after Saturday March 13th 2010 will be ready-stamped and will be valid until October 1st 2010.

 

What’s the point of money going down in value?

It is a way of encouraging the notes to be kept in circulation and helps maintain a supply of money in the local economy.

 

Doesn’t it just encouraging pointless consumerism?

The idea of the scheme is not to encourage you to spend more, but to spend differently.  We want to divert spending away from the internet and out-of-town ‘big-box’ retail shops and into the town.

 

Where can I buy the stamps?

At Stroud Valleys project on Saturday mornings between 11 and 1 o’clock.   Other outlets to be arranged.  

 

As a trader what can I do with outdated vouchers?

Before spending them you will need to attach the appropriate stamps. If however you want to redeem them for Sterling you can do so at the usual exchange rate until April 19th. Thereafter a stamp will need to be attached even to exchange.

 

Where does the money raised by issuing stamps go?

It will go towards the administration of the scheme, which is currently run on an entirely voluntary basis.

 

What if I find some unstamped Stroud Pounds in June?

The stamps will be on sale throughout the year so if you find some unstamped Stroud Pounds in your raincoat pocket in June, you can still revalidate your notes with stamps.

 

Why haven’t I heard of this idea before?

Demurrage currency has never been tried in England before although it has worked, and is working, successfully in Germany and elsewhere.  What better place for innovation than Stroud!

 

Thank you for supporting the Stroud Pound.  If you have any queries, please contact 01453 757436 or email info@stroudpound.org.uk

 

www.stroudpound.org.uk

 

 

 

 

A Story

 

It is the month of August in the Cotswolds…It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.

Suddenly, a rich tourist comes to town.

He enters the only hotel, lays a £100 note on the reception counter, and goes to inspect the rooms upstairs in order to pick one.

The hotel proprietor takes the £100 note and runs to pay his debt to the butcher.

The butcher takes the £100 note, and runs to pay his debt to the pig breeder.

The pig breeder takes the £100 note, and runs to pay his debt to the supplier of his feed and fuel.

The supplier of feed and fuel takes the £100 note and runs to pay his debt to the road haulier who has been transporting the feed.

The haulier takes the £100 note and runs to pay off his debt to the hotel proprietor for the use of the hotel car park for parking his lorries.

The hotel proprietor then lays the £100 note back on the counter so that the rich tourist will not suspect anything.

At that moment, the rich tourist comes down after inspecting the rooms, and takes his £100 note, after saying that he did not like any of the rooms, and leaves town.

No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism…