Pound Louis – Finally Finally Local Currency in the UK – after 16 years of turnover, it officially cut off, among the local options, including the increase in cards and digital payments that lead to cash demand.
Sunday, August 31, was the last day that the currency worked as a coupon was valid in shops and businesses in the eastern city of Sasks, indicating the end of a bold experiment in the community economy.
In 2008, it was launched as a response to global financial instability and environmental concerns, with the Pound Luis designed to encourage support for local jobs in Louis. At its height, more than 100 currency shops accepted and became a symbol of popular resistance and sustainability.
These notes were available in the 5, 10 pounds, £ 20 and 21 pounds, and the prominent philosopher Thomas Payne as well as local sights in the project.
Cash in 2009 made up about half of Britain’s trading, but it had just been reduced to a quarter by 2019. The Pound Lewis team reduced demand among the increase in digital payments and card trading as well as logistical challenges as the main reasons for thwarting the initiative.
Susan Murray, the manager of the Pound Louis said Independent: “Pound Louis was a local currency set to support local independent jobs in Louis and to celebrate Louis and whatever is good about it.
“[It’s demise] “It’s really upset,” he said. Yesterday it was the date that the last issue expired, it meant that if we wanted to continue, we needed to go through everything to sort out designs and print and security for a new issue. But it will not be worth less than five years. We’ve been working on it since 2008 and have somehow finished steam. We seemed really hard to find some people to use it, but unfortunately it wasn’t possible. “
He suggested that Coveid-19 also played a role in changing people’s relations with cash and thus Pound Louis. “During the epidemic of people I know they used the Pound Louis regularly and used the card, so it certainly has to do with it.”
He said the remaining budget, a total of 10,000 pounds, will be donated to local organizations, “in the hope that new things will come out of it, they will share the philosophy behind Louis.”
Paul Redende, Luis Arms landlord, a pub the currency was launched in 2008 Independent“I think it’s uncomfortable. We were always happy to accept them in the pub, Cavid has really killed it because many jobs have stopped cashing and the process is going on.
“We used to use 50:50 cash and cards before, now only about 10 % of our sales are paid in cash.
“I never saw one of the 21 pound notes, the mind,” he added.
Previous experiments in local currency have been conducted in Totnes in Devon, Lake District, Bristol, Exiter, Stroud and in Brixton in London, but none of these projects are currently in cash.
Louis residents have been invited to exchange any remaining notes or keep them as a notes in a unique chapter in British monetary history.
