THE IDAHO
TONIGHT - SATURDAY
99
Desire
Society Drama with a Special Cast
"FIGHTING BLOOD" and
ROLIN COMEDY
35c
STARTING SUNDAY
All aboard
VEST BOUND UNITED
A Thrilling Drama of
Railroading
TIME OF WILDCAT BANKS
for Unsound Depositories Was
Derived From Picture of Early
Day Notes.
The term "wildcats," today applied
Worthless securities of any description,
was originally the name given to certain
banks in Michigan. Back in 1837 there was a severe financial
panic. Many banks failed. The currency which they had circulated became worthless, many bogus banks started up and issued "bank notes" and the country was overrun with a swarm of counterfeiters. Banking and business were demoralized and, to make matters worse, lax legislation was passed in many states, permitting almost any kind of financial robbery in the name of banking.
Such was the case in Michigan, where 40 banks were started under a law of fraudulent character. These banks were called "wildcats" because the bank notes issued by them bore a picture of that animal. All but four failed within two years, hence the term "wildcat" to denote a very insecure financial obligation.—Muncie
Romance of Stolen Mail Bag. 