But how can a town of just 1884 residents issue its own currency?
Well, it's quite simple: the City Council approved an ordinance to print $10,000's worth of local currency.
Tenino residents below a certain level of income can now apply to receive a share of these 10k. Apart from that, the rules are pretty straightforward: the currency can only be used for essential purchases, including food and gas. Almost every business in town accepts the local notes, and twice a month, they can redeem them and turn the notes into cash.
Now, imagine if, after a couple of months, the city council notices that only $5,000 have been claimed?
Then what stops them from issuing $20,000 if their original plan was to spend $10,000? And why not even start paying the staff's lunch expenses with this local currency?
Printing currency is easy, you see.
Printing gold or silver? Not so much.