a b c d e f g h i j k l m n o p q r s t u v w y z search

TeachMeFinance.com - explain Wildcat money historic definition... Wildcat money -- A name applied to the depreciated or worthless money formerly issued by state banks that became insolvent; also called red dog money and yellow dog money. The term wildcat money applied originally to the circulating notes (money) of banks in the wilds of Wisconsin. These banks were organized after the enactment of the general banking law of the state in 1852 and they were located in the most obscure places, often in huts in forests. The banks were created solely for the purpose of issuing circulating notes and were established at inaccessible points in order to prevent the presentation of their notes for redemption. As their surroundings were in many instances the habitat of wildcats the banks, were called "wildcat banks" and their notes were called "wildcat money." Eventually the term wildcat was applied to all unstable banks throughout the country and to the depreciated notes of such banks. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.