id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
en-wikipedia-org-9479		Wildcat banking - Wikipedia			.html	text/html	3340	345	68	Operating primarily as banks of issue rather than deposit banks, wildcat banks circulated currency that was formally redeemable in gold or silver coin, but practically based on other assets such as government bonds or real estate notes. He subsequently signed the Deposit Act of 1836, which continued the federal subsidy to state banks and prevented the Secretary of the Treasury from regulating credit expansion by those banks in the manner that the Second Bank had. Promptly upon becoming a state in 1837, Michigan passed the General Banking Act, which allowed any group of landowners to organize a bank by raising at least $50,000 capital stock and depositing notes on real estate with the government as security for their bank notes. In 1863 the federal government passed a National Bank Act that created a national currency based on federal debt. A History of Banking in the United States. A History of Banking in the United States.	./cache/en-wikipedia-org-9479.html	./txt/en-wikipedia-org-9479.txt