1. Federalist No. 10
... source of most people's banking. In the western part of the country however, these laws were more lax and abused more frequently and led to what were called "wild cat banks". "Wild cat banks" were unstable and provided little security for its investments. Credit was over expanded and when there were depressions the banks would fail. The banks played a major role in ... the economics of the developing west and in the way future legislation on national banks would be created. The "wild cat banks" created a trade that otherwise many people would not have made work for themselves. These lax...
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- Approx Pages: 11