The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

cf~^l H Î ,-r w B-h i ^JLj •7 a |pT (f il l'i s I i \U' 7 /f v ? 1. w WEDNESDAY, DECEMBER 4,1991 Lots of Happenings at B.H.S 6 Santa Claus Goes Shopping 7-12 ? ÏÏYÈ D V! t Ci Ï/U if 8/C/ a I'll/lJ) /i S~* /T* A 1 iLCi inn if If If Û/ It/ ly b kJ sV hvff ';<* , ' fer =-, « - < -V " i: ' :-f wmfm ' ! > ■ V -- -v-f ♦ -, ,W > ?P9 , X*SSS5"7 1 fr' : v LETS Seminar Expands Idea Of Economic Barter Systems Nearly three dozen residents from around Newcastle attended the Local Exchange Trading System (LETS) seminar at Bowmanville High School last week where Dr. Burman and his colleagues explained their idea of an organized community bartering network. Dr. David Bur- man, seen here at centre, instructs Barb, Sully (right) and Gabriella Longo on the finer points of recording personal personal credits and commitments the "LETS "way. The seminar seminar was sponsored by the Good Neighbours committee. ZT XJ by Lorraine Manfredo Advocates of an organized bartering network claim that their system of trade allows users users to actually "create money as they need it." At a November 25th seminar seminar at the Bowmanville High School, a team headed by Dr. David Burman, a part-time dentist and faculty member at University of Toronto, promoted promoted the concept of the Local Exchange Exchange Trading System, (LETS). Dr. Burman stated that since . conventional paper money is essentially "a way of measuring something, it's just as dumb to be out of money as it is to be out of inches or centimeters." He said the Local Exchange Trading System measures the value of items or services traded using a 'green dollar' computerized accounting system. system. Purchasing a product on the LETS exchange will result result in an immediate deduction deduction from the buyer's green dollar account, and an instant credit to the seller's. Thus, the reasoning be hind the LETS newsletter comment which states: "You create Green Dollars by spending them." "A green dollar," Dr. Burman Burman explained last Monday evening, "is money that you don't have to wait for the mint to print." Bartering is traditionally thought of as a single exchange exchange between two parties, but the LETS system expands that limited arena of trade to include a network of many buyers and sellers. Currently, there are 150 Toronto area merchants listed on 'the LETS exchange, providing providing services for whole or partial payment in green dollars. dollars. There arc over 50 active LETS systems in communities communities all around the world. Dr. Burman' said that LETS merchants become involved involved for a wide range of reasons. "For some, its ideological," ideological," he said, "for others, it's, 'Hey I'm broke, I need something to do.' And anything anything in between." Midway through die seminar, seminar, the nearly three dozen Newcasdc residents who attended attended were invited to play a game designed to simulate the marketplace. Each participant participant was given a handful of play money and a sample green dollar account sheet. Imaginary items and services services were bought and sold to illustrate the ease of green dollar trading. Players were required to keep a running tally of their sales and purchases purchases in both green and federal federal issue dollars. Sat Khalsa, a writer and sociologist working with the LETS team, later polled the audience about the game. He attempted to trace the course of the play money, and to lcam how many green dollars were generated and how they came to be distributed. He concluded that our conventional money "typically "typically flows from poor to rich." He said, "This is the nature of money." He added that, conversely, conversely, "green money flows more easily than (conventional) (conventional) money. It just distributes itself over the entire community." community." Commenting on both the game and the actual system, Mr. Khalsa staled dial "the best strategy is to swing back and forth" from the credit to the commitment side of the balance sheet. "If you're going going to hoard your green dollars, dollars, there's no point in doing it." And Mr. Khalsa says: "Over time, the balance matters matters less and less, and the turnover matters more, and in the end you know you've got value and you've given value." value." Several members of the audience questioned the LETS team about tax obligations obligations under an organized barter barter network. According the LETS team, Revenue Canada requires that any earnings arising from the performance of a regular profession, profession, trade, or skill must be declared as taxable income by the seller. However, if the service offered is not the person's person's regular line of work, then it needn't be declared as taxable under ordinary circumstances. circumstances. Michael Berger, also of the LETS program, advised the audience dial "the purpose purpose of the system is not to avoid taxes. If people use it that way, the government would investigate and close it down." Concerns about abuse and fraud within the system were also broached by the audience. audience. Members of the LETS team described it as "foolproof." "foolproof." "LETS systems arc designed designed to work best when they are in a community where people know one another," another," said Mr. Khalsa. People People who developed reputations reputations as non-contributors would soon be passed over as potential customers in future, he suggested. At the end of the evening, the audience agreed to launch a Local Exchange -Trading System in the Town of Newcastle. Newcastle. Any interested parties arc directed to contact J. Bi- lenduke at 432-0054. The seminar was part of a series of information lectures sponsored by the Good Neighbours committee. Last Wednesday, Nov. 27th was a big night at Courtice Girl Guides when five members were presented presented with their All Round Cords during an împres- =ive cprpmnnv. The reciuients are Wendy Brear, Mela nie McDonald, Erica Chandler, Sarah Howe and Jennifer Megesi. The girls also took part in a special Bridging to Pathfinders ritual. V A number of narents were present at St. Paul's middle row, Danielle Brown, Katrina Shred, Nicole Sunday School rornn on Tuesday, Nov. 26th when 16 Sarris, Lindsay MacLeod, Jessica McMahon ai ™ Girl Guides and one Leader were enrolled in 2nd Bow- McNair; back row, Mel a i«e Arsen au U Heathe^Earle, ÎCSS ™ama£ a F w£n. wh, was enrol,ed as Hosie, Jenna Routh, Jamie Lee Gibb, Gloria Morton;- a Guider, Rainbow Owl. A second major event on Wednesday, Nov. 27th at Courtice United Church was the enrollment of 11 Guides, (not in order), including Stephanie Harkin, Michelle Whittall, Amie Kurianowicz, Kathy Korte- kaas, Christa Saucier, Marsha Duggan, Diana Trot- man, Jaclyn Lee, Becky Spencer, Sara Millettc and Stephanie Ileise. There were two presentations during the regular meeting of Branch 178 Royal Canadian Legion on Thursday, Nov. 28th. A cheque for $500 was presented presented to a visiting group from 7th Bowmanville Boy Scouts to assist them in their financing for a trip to Alberta next year for a huge Jamboree. In return, the Scouts presented the Branch with a citation in appre- their generosity. Taking part in the ceremo- 1-r, Michael Wilcox, Jamie Shrives, Scout- ciation of their ny were, 1-r, M - , .. --, leader Andy Hendricks, Legion Ladies Auxiliary President, Doreen Park, David Hendricks, Andrew Crossen and Legion Branch 178 President, Jim Connell. Connell.