American Reserve Obligation (A.F.R.O.) is a Local
Currency example that was issued by a black investment banker names Price
in the late 1980's in Chicago. As with most local currencies, its purpose
was to promote local businesses, in this case within the black community.
In addition to increasing business in the black community, Price hoped to
establish a trust fund to finance housing, educational scholarship and to
provide venture capital for new black businesses.
© Garry Saint, Esquire 1999- 2006