Meaning of wildcat money | Babel Free

Definitions

A paper currency that was issued by banks in the 19th century when there was no federal regulation of banks.

historical

Examples

“Heretofore, the end⟳ that should have⟳ been sought—a faultless medium of exchange⟳—had been lost sight of; and every writer who has presented a new theory of money, not to mention⟳ the old one, has become⟳ entangled with the dogmas, State supervision, "measure⟳ of value," "standard of value," and legal tender; or lost his bearings and shipwrecked among the breakers—fiat money, wildcat money, monometallism, bimetallism, and the like⟳.”

“Many of our "sound⟳ money" men, after the death of "free silver," follow⟳ after "assets banking," and try⟳ to delude themselves that they are not really harking back to the cult of that old money demon whose handiwork is "wildcat money," like⟳ that which some of our fathers still living knew and remember⟳ to their sorrow .”

“Now, we go further and find⟳ that these banks which issued this wildcat money, one after another failed, and created enormous disturbances .”

CEFR level