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Description
Chico Currency was an idea by B. Osborn and Ray Pierce, that freed up spending money for residents whose savings were locked in two local banks who had been forced into receivership. The "money" bore the names of these banks, First National Trust and Savings and Peoples Savings and Commerical Bank. Depositors were allowed to withdraw up to 25 percent of their accounts. This Chico Currency circulated about 5 months until the banks reopened. the Chamber of Commerce gathered up as many bills as they could and in Sept. 1933 burned the currency in a public ceremony in Children's Playground. Chico Currency One Dollar date of issue April 12, 1933.
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