Swiss Review 1/2019

Swiss Review / January 2019 / No.1 17 is certainly true that, following the forger’s violent death, his forged coins remained in circulation as nei- ther the federal government nor the canton of Valais felt capable of re- moving the huge numbers of coins from the market. As Crettenand ex- plains, “The forged money became genuine money, purely because peo- ple considered it as such and trusted its value.” The Valais complementary cur- rency was not, however, launched with the aim of glorifying the long- dead forger further still. On the con- trary. As Crettenand explains, the in- tention was to strengthen the local economy and community. The local currency is meant to encourage Val- ais businesses to establish a network of local suppliers, whilst also reach- ing out more to local consumers. “Without the complementary cur- rency and the new network, the chances of local trade surviving are slimmer,” says Crettenand. That’s why he believes that the farinet is an optimistic answer to the question of what a sustainable economy and so- ciety could look like in an era of glo- balisation – the small, additional flow of money is a boost for all who have a stake in it. To get your hands on the farinet, you need to travel to Valais. And if you want to spend it, this is the only place you can do so. There’s no doubt that the aura surrounding the legendary forger gives this legitimate currency a cer- tain emotional appeal and ironic charm. This is why farinet notes also need to be protected against forgers Society MARC LETTAU Perhaps the time has come to revise our image of the relationship be- tween the Swiss people and their money. There’s no denying that their faith in the solid Swiss franc is unwa- vering, but in Valais, for example, the farinet has also been in circulation alongside the Swiss franc for over a year now. The Valais capital of Sion honoured this complementary cur- rency last autumn, specifically decid- ing that farinets could also now be used to pay for public services. Fari- nets are now even accepted in deal- ings with the police. Calculating the exchange rate between the two cur- rencies couldn’t be easier as one fari- net is worth exactly one Swiss franc. To truly appreciate the irony of this official decision, you really need to understand where the name of this local currency comes from – it is named after Joseph-Samuel Farinet (1845–1880), scourge of the authori- ties, smuggler and forger. Aman once wanted by Switzerland’s authorities and police, Farinet is the country’s most famous counterfeiter and a leg- end in Valais. Farinet was certainly no model of law, order or respect for official proceedings. So how is it, then, that banknotes – accepted by the authorities – now bear the por- trait of Farinet of all people? David Crettenand is one of the pi- oneers of the Valais currency. For him, its name has a strong local res- onance. “Everyone knows Farinet,” he explains. He says that the name also symbolises the debate about “what a true currency actually is”. It The legitimate bank note named after a famous counterfeiter It must give traffic offenders in Sion, the cantonal capital of Valais, a kick – instead of settling their fines with the police in Swiss francs, they can opt to pay in farinets, the local currency named after Switzerland’s most famous counterfeiter. The Valais complemen- tary currency is availa- ble in note denomina- tions of 1, 2, 5, 10, 13, 20, 50 and 100 farinets. Photo: Keystone The name giver of the currency: The coin forger and smuggler Joseph-Samuel Farinet (1845–1880).