# Private Money
A [currency](currency.md) issued by a private party instead of a nation state or [central-banks](central-banks.md). Private money has a [distribution-problem](distribution-problem.md). 

Many [crypto assets](cryptoasset.md) allege to be a form of transnational private money in either their namesake or political imaginaries.

## American Wildcat Banks

The America financial system, before the Civil War, had a large network of independent banks which all issued their own notes as a form of private money. The system was not effective as rife with fraud and [systemic-risk](systemic-risk.md). The bank note was nationalized by The National Banking Acts of 1863.

https://www.npr.org/sections/money/2012/12/07/166747693/episode-421-the-birth-of-the-dollar-bill

## Scottish Bank Notes
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## Company Scrip
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## Town Money
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## References
* [@gorton_taming_2021]
* [@hockett_moneys_2019]