Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1850-01-18


the genera! business Of the state from the use Of
/ foreign than domestic Taper. Without going
into a discuss ion Of tie merits or dement's Of tie
system of lar.;ing ic; it flee for the purpose
of this con Ea0nit& ion. 20 remark generally that
any effort TO establish by lera' enactment banks
to supply Tire cjrcf 'rg Medium, or any want
OF IT, would ba unWi>e. lurrultc and unneCeosa-
~, and would b. iTauglt, If carried into effect
with the greatest danger 10 the permanent pos
pertv of the state. The system cannot b. Sns
tuned upon PRINCIPLES ct sound political economy
The influence Of the Banking avstcm in rfnc-
teal operation has boon tested in this state 10 b.
OF the most deetarious character nron the hnsi
ness relations OF the community Banking laws
whether OF 4 general nature, or creating special
corporate bodies, cannot Ike ordinary acts Of lC-
gislation. be repealed ~ pleasure, without GREAT
nconvenier CO, and ,hcnSiituIions organized u1-
der them ramiG ever portion of the body noiic
with their influence, and soon obtain controlling
power over almost every interest When their
evil and dangerous power is felt, il requires no
ordinary effort or resolution to amend their cor
porate franchises or curtai the exercise of their
powers.
The strength Of this in,u nee is being vcrif-
cd in this state by the exercise Of such powers.
under doubtful corporate grants, by those claim
ing to be corporations, and hy individuals, in the
face OF legal restriction. BY reason of constitu-
uonal prohibitions, no law creating banking row
ers can become effective Withoutfhc sanction Of
the people. with whom il can safely be confdcd.
Entertaining opinions adverse TO the whole svs-
TEN Of Banking, rs a mr0ES of furnishing a cir
culating medium, no legislation is recommended
on the subject, and trust the matter will remain
undisturbad where the constitution has placed il
The Important relation which the Wisconsin
Marine and Fire Insurance Company bcaIS to
the business affairs of Il large rortion of tho
community, in furnishing to a great extent lis
circulation, increases the propriety Of it's raceiy.
ing some attention at the hands Of the Iecisla-
ture. The act creating this corporation las
been repealed. and tine exercise OF Banking pow
ers to the extent used. is of doubtful authority.
even II the CORPORATION has d legal cxistence.-
In view OF the magnitude of the interests affect
cd, it is due to the State and also to the corpora-
tors claiming is Franchises that il should be iu-
dcially ascertainod and the fact definitely settled
whether the corporation has any legal existence,
or has no right to exercise the powers Cf a Bank.
such steps should b. tax As viii e!Iactuallv
prevent its evidences Of debt from being thrown
into circulation. | would therefore recommend
that a law be passed directing Proceedings to be-
Instituted to judicialy determine whether the
Company has valid corporate existence, and if
50, that It's powers be defined, and i not that its
further operations be suppressed.
IS ILL., - ~, lou WIN .i7
- - S :" f.'s0't'" 1' 0"'fe"ey "i me
VI 'io 'i''}-,'! u tlo3e c"naucunS
= :, "l"' 'n1 .ha'i9uai9
tL, f III . '''SH gree
'd So. G'',',',.''''y' U, a. 70 '''oF
no excuse orUoatOn OF the law, and if this cor
pOratiOn has legal existence and the mowers
- -" l' u! 10 ''-''t'i II - 'iieh
u',! % t,', - II"No suGh h'sis-
o' !" ,-''.' - a. WIN 'on" 10
we r. ',o',i l'y ,,sS '"I' may mere
n(o b ~ 'iu,,' - i "'so recon-
'i1; r -. %" w ''ig III
;,'G La,,t.;,L = r. ''-' '''''''''''0'-
'A>,. o,,'N'''
LOU "'teht'oll - o're1.su 10 DEC. : Of article
O ,''e constitution winch provides that the
hG 9I9atote dlFtct oy law IN what manner and III
@llaI our. S''it MAJ D. brought against the
o'"'s' wa cue ~" .. ''9Pu"1 S"c4 LaSisia-
"oli - Iou"u puo'o P""c! GiIIa''S' III framing
az. : 20" go ''i slo"'d ~ yea IN uo
u7.''i9' " s""'u '''c ',',' 19@'n9t 'lHoiouS ana
un'n Fo',an' suns ana rs provisions should be
o - '''S9 VI ne i'osI urgent ne
. J'l' ~ " '.''' 'i''' 'oU1 Vi IouFeSS
~, ~ a,'S,J;','
.
I'I "''! wen " fi,'7'o' "''1 III my opinion 10
Urgent reason can ~ a"'"eed Tor It's existence
ne principe OF o'a'e permitting Itself to be
sucd m Us own 1oHrt9 Is mover one and re-
SORT VIII o1 h',ai'y maze 10 the Legislature to
carry out the DEGREES oola'ned against It. The
constitution however IS imperative, and You
WILL give 1t "Ie CONSIDERATION,
nc Term OF ser! OF inc Judge l the Fourth
JUDICIAL CiTc"i' VIII expire WIN me close Of the
present year Legislation VIII therefore be re-
qol9"e 10 prorlie' az 'I"9 ,S'oh' lot me eIcc-
uoh OF tnis o1ioeF' W"u!d recommend that Il
genera law BE- passed. providing Tor ue election
0! an 'he 'lFcud' Judges, DIS lht'r terms Of SER
VICE expire Inns VIII Oo'ia'c annual Legsia-
'o,i on tAis 5U~eC'.
III conc U"'i9 '',9 communication 1t may not
, on q i9aco 70 ara" your a'ehuon 10 me eIe-
pU''i ''.3'%l! ,'.'U ota"y oc-
ou " ~ i'. =, ,''o an 'o'a.,s a
w id",'i! VI u i''0 ",'f o''te
- dH 'u'e 1I"' i"''. ms PCS'''9h - inc more
M do II - u' result .. soI'r .heht en-
e"a'i's I'."h ".1 rl"p'' >e'Il'i'''Ig To"'I
ms '''at ~, - ,'' a'l ' iis ' H., an ron
r, 80 - -" '''0 'i''l1"t
o. Ilt Peoi'3 -" 5.'' =. mon mas S'F'n9'HsteI
=, VIM y, 9H,'i-," :" - - 80! ia"eo
~ l'S vi r"''! >''"'" ,''i L''3 t!','G e.