Team Rocket has engine trouble. As Team Rocket tries to repair their sub, they ask Meowth to use Pay Day but Meowth said it can't learn that move. They then notice Ash and co along the beach and decided to attack them (and fail). Meowth landed on Golden Island where the natives worshiped the Great Meowth of Bounty. Meowth was living the good life until the natives wanted Meowth to use Pay Day. They had Meowth battle a Nidoking and Onix but Jessie and James bailed him out with gold coins and a few of James' Bottlecaps. In the end Meowth decided to travel with Jessie and James rather than rule Golden Island.
This is probably the first episode where we learn of James' Bottlecap collecting hobby.
This is the second episode where Meowth battled an Onix. The first was IL050: Who Gets to Keep Togepi.
This is the second episode that focused on Meowth. The first was IL070: Go West Young Meowth.
The "Who's that Pokémon?" in this episode is Magnemite.
"I'd love to cough up some cash Jimmy, but since I spent so much energy learning how to talk I simply can't learn Pay Day."