The
Salt Spring Dollars are printed and then
transferred to a bank and placed into their vault.
From there, the Dollars are
sold/issued into circulation, in exchange for Canadian Dollars, through
various commercial outlets in the community (Chamber of Commerce, banks,
stores, etc.)
The Canadian dollars
are then deposited into special
trust accounts that
are used as the reserve funds
for the Salt Spring Dollars.
The
Canadian dollars in the reserve fund immediately begin collecting interest.
When someone wants to
deposit a Salt Spring Dollar into
their Canadian dollar bank
account, the IMF reserve fund
account is debited, and the Salt Spring Dollar is returned to the IMF.
This means that Islanders can buy
food, clothes and gas with Salt Spring Dollars,
while merchants can be assured that they will be able to exchange
Salt Spring Dollars back into
Canadian dollars.
