The wildcat banking problem took care of itself. Or rather, the market took care of it. Review the history of Suffolk Bank, which served as a private bank note clearing house and effectively cleaned up the New England banking industry.
That market correction took a long time and only occurred after years of fraud and large losses by those defrauded by these “banks”. And New England was not the center of the problem with the wildcats. They were most prevalent where there was an undeveloped banking system such as the frontier areas. I believed that is why they were called “wildcats” as in being located where wildcats were common.
The whole episode was another example of an insufficient money supply which always accompanies the so-called gold standard. People had to use their ingenuity to devise other currencies to keep the economy moving. And not all of it was good.