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Banks, wild-cat,

A designation of a class of banks in various parts of the country, and especially in the Western States, founded prior to the enactment of the national banking law. This peculiar designation was originally applied to a number of banks organized under State charters in Michigan, because their notes of circulation contained upon their face the picture of a panther. Many of these banks very soon became unsound, and when it was found that their notes were worthless these banks became the type of a worthless currency, and all money and banks of doubtful value became known as wildcats. This designation in time was extended to a large number of insurance companies, especially in Illinois. See Bank of the United States; graveyard insurance.

Harper and Brothers Publishers. . New York. 1902.

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