Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1846-02-10

COMMITTEE, is, that when proviso to an act
Is rePugnant TO the provisions of il, the act
snaii stand: and the proviso be rejected: (lst
Kent Com. 463.) tits manifest that if the
proViso TO the section of the act i'm question
can be made to stand with the section. and
Is not repugnant to it. the same conclusion
VIII De reached in regard in the powers of
the company, for in that case the proyiso
must be held 10 apply only to such bank
ing powers as are not clearly granted; and in
that case would perform the appropriate of:
flee of a proviso.
In the opinion of the committee, the leg
islature did not attempt TO put construc-
ton upon the section Of the act which de-
fines the powers of the company. in the pro-
viso, and decide that in bis opinion the pow
ers granted were not banking powers, for
the reason that it had no power TO alter the
nature of the grant by giving it wrong
name; if the prowers granted were banking
powers, it is we'll known that the act grant.
ing them could have no effect until it had
received the approval of the congress of the
United States, and the legislature could not
avoid the necessity ofobtaining that appro-
val, by asserting that privileges which it
had granted to the company were not bank
ing privileges when the contrary was clear
ly the fact.
The committee then are of the opinion
that if the legislature had possessed the pow
er to confer banking powers and privileges
upon the company, they would have
been conferred by the act of incorpora-
ton.
The congress oflhc United States by-an
act passed on the 1st Of July, A. d. 1886,
enacted, "that no act of the territorial leg
islatures of any Of the terrories Of the Uni
ted States. Incorporating any bank or any
institution with banking powers or privileges
hereafter to be passed, shall have any force
or effect whatever until approved and cons
frmed by congress-, and by the same act
annulled several acts of the territorial legs-
lature OF Florida Incorporating banks and in
surance companies.
1t will be perceived that the language of
the act ofcongress is very comprehensive,
and includes all banks and institutions with
oA'N''5 Po"S'S VI p'iNhSSCSs anu uoCo ilos
attempt 10 discriminate between different
kinds Of banks. In the opinion ofthe COM
mit;ee, banks of deposit, banks of issue,
savings banks, and all institutions posses.
sing the power and privileges of all or either
Of these different kinds of banks, are alike
prohibited, and as necessary consequence
the act of the legislature of this territory
entitled san act to incorporate the Wiscon.
sin Marine and Fire Insurance Company
never having been approved by congress, i:
void and of no effect. If the view which
the committee have taken of the subject i.
correct, there can be no objection to passing
the bill referred 10 them on legal grounds
and the Legislature IS free 10 ACT in the
matter as it shall think most wise ana pol.
tito.
The passage of bill will have no lega
and Legitimate effect except TO prevent the
company from hereafter procuring the ap-
proval by congress of the act sought TO be
| repealed, and tine commtte refrain from
any opinion as TO the course proper to be
pursued: believing that each member of the
council entertans an opinion on the subiec
which could hot be altered by any thing
which the committee could urge.
A II of which is respectfully submitted
E. V. WILTON,
c. M. BAKER,
MARSHALL M. STRONG.