TORONTO VOICE

July, 1999.

CIBC embraces Toronto Dollar

The Toronto Dollar, our own community currency which is invested back into our neighbourhoods, has now taken another leap forward, since its creation only a few months ago. As of June 21, anyone may purchase the dollars at two CIBC branches, located- at 1 Toronto St., and King St. E. at Sherbourne Street.

CIBC is the first major bank to participate in the Toronto Dollar project. As James Page, community manager for CIBC explained:  “Our participation with the Toronto Dollar program is simply an extension of CIBC's commitment to enhancing the communities in which we live and work." Says Joy Kogawa, project president and renowned Canadian author, “There are people within banks who care about people. Wherever there are people who care, there is hope.” 

The Toronto Dollar was launched in December l998, and at last look more than 80 businesses accept it as currency, and more than $60,000 of it are in circulation, raising at least $6,000 for local social causes, such as the Yonge Street Mission. When we use Toronto Dollars, 10 per cent goes of the transaction goes into community projects.  For a list of participating businesses and other locations to buy it, - call 361 0466.

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January, 1999.

Local currency poised to spark new jobs, business and vitality

Our own local currency - the Toronto Dollar – is now a fact, and available at several downtown locations.

The idea was created by a group of public-spirited citizens in the St. Lawrence neighborhood, who were looking for a way to kick-start the local economy that would create jobs and encourage new, small businesses (many home-based), making the community a more vibrant, attractive place.

Mayor Mel Lastman, recognizing the new currency as an innovative idea, enthusiastically helped launch the new dollars in December at the St. Lawrence Market. Recognizing its positive potential within the community, The Toronto Voice has also joined the group as a local newspaper arm, to promote The Toronto Dollar. That's why we are inaugurating in this issue, our very own Toronto Dollar page. This page will showcase those businesses that accept Toronto dollars for their goods or services, either in full or in part.  The Toronto Voice will also accept payment in Toronto Dollars for ads on this page.

With more than 60 businesses accepting the local dollars at last tally, residents can pay for a wide range of goods and services with them.  And by spending our Toronto Dollars at those businesses, we generate new business, while helping the unemployed and homeless. Ten per cent of each Canadian dollar exchanged for a Toronto Dollar, goes into a fund of Toronto Dollar Community Projects Inc., to create work through community initiatives.

The management of a Toronto Dollar Reserve Trust Fund (which backs up Toronto dollars in circulation) is contracted to Toronto's First Post Office at Adelaide and Jarvis, which also serves as a central distribution centre and exchange agent. Other exchange agents are in The Flatiron Building, 49 Wellington St. E., St. Lawrence Market, Front & Jarvis, and Frida Craft Store, 39 Front St. E.

As of January 7,1998, Susan Bellan, owner of Frida Craft, reports $15,000 in Toronto Dollars had been sold. And Joe Singh, owner of The Optic Zone at Jarvis and Front, one of the businesses already signed on to take Toronto dollars, enthusiastically confirmed that any initial doubts he may have had, are gone.

"At first I was wondering whether I'd be able to spend my Toronto Dollars easily.  Now that I see how many places are accepting them - I can see there won't be a problem."

 And this is only the beginning folks!

 St. Lawrence Works group, originators of the Toronto Dollar, are working hard to ensure the use of Toronto dollars spread to communities across Toronto as it gathers momentum.  All businesses and individuals are welcome to come on board!