Paper Money Issued by Private Central Banks (PMIPCB-NP) (not pretending to be government entities)

ByShaun Snapp

Executive Summary

  • This is one of the major types of money.
  • The important feature is “who” issue the money.

Introduction

Many banks historically issued their own currencies in the US. This is particularly true during the 18th century in a period referred to as “wildcat” banking. These currencies did not have long lives, and the practice is inherently unstable.