Re: Paying members - L.E.T.S.
From: Richard Morley (
Date: Fri, 25 Feb 94 13:24:50 GMT
The L.E.T.S. * system is a framework for exchanging goods and services at a
'sub-commercial' level.  It is implemented in a number of places in Great
Britain, including Manchester, and had origins with a Torontonian, I believe.

Essentially, it is an informaiton bank of credits and debits of notional
values.  Each participant sets a price for their goods or services on the
guidance that one of the 'units' is worth, say, a pound.  When two members of
the scheme agree to do an exchange, they instruct the registrar to adujst their

L.E.T.S. is a framework which can be used to provide answers to the most basic
questions and reduce risks.  I shall try to post some contact information or
details to this list.  It is certainly appropriate for co-housing communities.

Richard Morley

(sorry, cannot remember acronym's meaning - 
maybe Local, Enterprise, Expertise, Exchange, Trading, Scheme, System)

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