Tenino, Washington Brings Back Wooden Money For Another Round In 2021

The city of Tenino is printing wooden money to help residents through the pandemic

As businesses struggle to stay afloat during the pandemic and a record number of Americans have lost their jobs, one small city in Washington state put forth a creative solution to help its neediest residents pull through: printing their own money, out of wood.

In Tenino — a community of fewer than 2,000 people halfway between Seattle and Portland — residents who can demonstrate an economic hardship caused by the pandemic can receive up to $300 a month in wooden dollars, subsidized by a City Hall grant program.

The bills are made of wood veneer and are each worth $25. They can be used to purchase necessities and services from licensed or certified providers, as specified in Tenino’s City Hall guidelines.

“With so many people having financial troubles right now and not being able to work, it definitely helps,” Chris Hamilton, the store manager at Tenino Market Fresh said. “The nice thing is it keeps the business in town,” Hamilton said. “The currency is only good in Tenino, so it helps promote the small town and keep business local. It’s a two-fold win for people.”

This is not the first time the city of Tenino has resorted to printing its own money in times of economic hardship. It happened before, during the Great Recession.

The Tenino Wooden Dollar was first printed in December 1931 when the local Citizens Bank failed and all bank accounts were frozen, according to city historian Richard Edwards.

At that time, the currency was backed by the local Chamber of Commerce rather than by the local government and was the brainchild of local newspaper publisher Don Major, who thought to use his printing press for the purpose.

Residents could sign over up to 25% of their bank deposits to the Chamber of Commerce in exchange for the alternative currency, which was also made of wood, and abundantly available material in the Pacific Northwest. The first Tenino wooden currency circulated from 1931 to 1933, and later became a collectors’ item.

“We’re taking a page from the history playbook to benefit businesses, residents, and visitors,” Tenino Area Chamber of Commerce President Cheryl Pearce said in a written release.

During the wooden money’s run in 2020, Tenino garnered international attention, fielding calls from Canada, India, and Portugal, among others, asking for a sampling of the currency. Collectors were also observed selling it on eBay for upwards of $300, while museums across the country reached out for a piece of the action as well.

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