Freigeld Wörgl (=free money of Wörgl)

The town of Wörgl is the birthplace of "Freigeld"! The "Freigeld Wörgl" was an alternative currency that was introduced in Wörgl in the 1930s during the Great Depression by the then mayor, Michael Unterguggenberger. The idea was simple: the municipality issued "free money notes" that were accepted as a means of payment within the region. The notes were stamped monthly, reducing their value by a small amount each time. This encouraged people to spend the money quickly, thereby stimulating the local economy.
Unterguggenberger was convinced that an alternative currency such as the "Freigeld Wörgl" could help boost the local economy and reduce unemployment. With this idea, he turned to the renowned economist Silvio Gesell, who had developed the concept of "Freigeld Wörgl".

The municipality issued "Freigeld"-notes worth 50,000 schillings and ensured that they were accepted as a means of payment throughout the region.
The "Freigeld"-experiment was a great success. In the first months after its introduction, demand for labour increased, the economy flourished and unemployment fell. However, the experiment was soon banned by the authorities.