Untitled

Waikato Times, Volume 112, Issue 18776, 26 October 1932, Page 3

Wood As Money. —ln one town in America, money is made not of copper or nickel or silver or gold, but of wood. At the present time the United States is going through a period of trade depression, and during the past twelve months thousands of 'banks have suspended payment. Small local banks are to be found everywhere. The little town of Tenino, recently found itself in a peculiar position. The local bank' closed its doors, and suspended payment. In its coffers was nearly ail the money in the town, and once it was out of action there was not enough to go round. The local Chamber of Commerce met, and decided that something must be done. No metal was available, but Tenlno’s staple product is wood. Within a short time coins had been produced made of two thin pieces of wood with a thin paper sheet between them. Might hundred dollars, or over £2OO worth of wooden small change, is now in circulation.