密歇根新闻广播 密歇根"野猫"银行失去控制

As banking¹ and the transferring of funds continues to evolve from paper to electronic in the 21st century, let's think back to Michiganders in the 19th century.

For them, procuring² cash was way more complicated than rolling up to a nearby ATM and getting a stack of 20s. Without a National Bank issuing currency, states like Michigan chartered their own banks without federal oversight³.

Without regulation, banks were pretty untamed. As a result, the term "wildcat banking" became part of the American lexicon⁴.

Mark Harvey from the Michigan History Center joined Stateside to talk about what wildcat banking was and what life was like in that banking world of the mid⁵ 1800s.

Harvey said the origin of the term "wildcat banking" comes from the story of a bank that was printing its own bank notes with a picture of a wildcat on them. He said there's no physical evidence to back this up, but it makes for a good story.

In 1837, the general banking act was passed and Michigan became the first state in the country to allow for free banking, Harvey said, which allowed banks to print their own notes without federal oversight. Some banks operated as one would expect a bank to operate, with money to back up their finances. Others, however, did not.

"When they were inspected by the commissioners⁶ they would show their resources that backed the bank, and it was a box of money but really ... on top was the currency, and underneath⁷ it were like nuts and bolts and other stuff," Harvey said.

Listen to the full interview above to hear how and where the notes were spent, and how Michigan's land speculation⁸ boom of that era closely resemble the 2008 housing crisis.

1 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

2 procuring   

v.（努力）取得， （设法）获得( procure的现在分词 )；拉皮条

参考例句：

• He was accused of procuring women for his business associates. 他被指控为其生意合伙人招妓。 来自辞典例句
• She had particular pleasure, in procuring him the proper invitation. 她特别高兴为他争得这份体面的邀请。 来自辞典例句

3 oversight   

n.勘漏，失察，疏忽

参考例句：

• I consider this a gross oversight on your part.我把这件事看作是你的一大疏忽。
• Your essay was not marked through an oversight on my part.由于我的疏忽你的文章没有打分。

4 lexicon   

n.字典，专门词汇

参考例句：

• Chocolate equals sin in most people's lexicon.巧克力在大多数人的字典里等同于罪恶。
• Silent earthquakes are only just beginning to enter the public lexicon.无声地震才刚开始要成为众所周知的语汇。

5 mid   

adj.中央的，中间的

参考例句：

• Our mid-term exam is pending.我们就要期中考试了。
• He switched over to teaching in mid-career.他在而立之年转入教学工作。

6 commissioners   

n.专员( commissioner的名词复数 )；长官；委员；政府部门的长官

参考例句：

• The Commissioners of Inland Revenue control British national taxes. 国家税收委员管理英国全国的税收。 来自《简明英汉词典》
• The SEC has five commissioners who are appointed by the president. 证券交易委员会有５名委员，是由总统任命的。 来自英汉非文学 - 政府文件

7 underneath   

adj.在...下面，在...底下；adv.在下面

参考例句：

• Working underneath the car is always a messy job.在汽车底下工作是件脏活。
• She wore a coat with a dress underneath.她穿着一件大衣，里面套着一条连衣裙。

8 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。