In the US, banking scams and crashes were very common before the various reforms enacted in the early 20th century. Wildcat banks in the west printed money with

In the US, banking scams and crashes were very common before the various reforms enacted in the early 20th century. Wildcat banks in the west printed money with reckless abandon, which quickly became completely worthless. Bank runs were pretty common, due to a low overall confidence in the banking system. And a worker in 19th century America was lucky if they were paid in actual money, instead of a company scrip.