Kenosha telegraph. [volume] (Kenosha, Wis.) 1850-1854, 1853-01-14

and his toll, is the facility with which the
products OF his husbandry can reach the best
and the most ready market. And it requires
no argument to show, that to the farmers of
this state, this facility is greatly needed.
Our lands are very productive with but
little cost or labor; and when the freight ON
the transportation of our products to an East
ern market, shall become reduced by the
increasing patronage and competition of the,
railroads and various other means of carriage,
they will be nearly, if not fully equal, at least
in actual value to the producer, to the lands
of New York and New England, although
their price in market may be much less.
1t may therefore, well be expected that
our citizens will feel a deep interest in the
railroad enterprises of this state, that promise
so much for the common benefit.
An indication highly favorable to our fu-
ture prosperity, consists in the great and in
creasing interest taken by our people in az
riculture. Much has already been done, yet
still more remains to be done by us, in test
ing the qualities or our soil and its adapta-
ton to the different varieties ofcrops, and the
various modes Of tilage. Too much informa-
, ton and interchange of experience, in rela-
ton to this, to us, most important branch of
industry, cannot we'll be circulated. As a
leading means of improvement, State and
County Agricultural societies have been form
: ed, and thus far, have been followed by en-
: couraging results.
The two State Fairs, the first held at James
vile, and the last at Milwaukee, were success
full and gratifying experiments, and an ear
nest of the future usefulness of the Soce-
: ty.
: The General Banking Law passed at youl
last Session and, submitted to vote of the
r people, at the recent general election, has
been ratified by very large majority, and is
{ therefore, now in full force and effect
Although not entirely free from imperfec-
tons, it is believed to be a good and safe law
, and will, if reasonably construed, and proper
" carried into effect, fully answerthe purpose
designed.
{ 1t cannot be disguised, however, that nc
law, authorizing and regulating the business
of banking, with the most stringent safe
5 guards and restrictions, can be entirely proof
against those abuses, which are prompted by
that lnordinate love of gain, that would seek
to take more than was intended to be given
, construe a favorable franchise, into a licensed
: wrong, and abuse generous priveledge by
the practice Of fraud. 1t was intended by
2 this law, to have the entire circulation Of the
, banks that might be organized under it, Sc
cured by, and based upon actual deposited
, capital. And if this wise intention can be car
! ried into effect, it will doubtless bring large
, amounts of foreign capital into the State
e and give us the benefit Of circulation with
out risk or hazard
: But if this law is to be perverted from its
, legitimate object and obvious design, as to
r be the means, through the banks, of its crea-
t ton, to through broadcast over the State a
! doubtful or irresponsible currency, of indefi-
mite amount, under the seeming guize of a
faithful adherence to its provisions. them in
deed, will that, we fam hoped would be a
benefit surely prove our ruin.
1t is not however, by any means to be
, presumed, that either many or indeed any,
banking associations of this character, or do
ing violence to the law, will be organized
But is it the part of wisdom to foresee the
evil and guard against it, rather than it
should come upon lis by surprise? One
thing is certain: We shall never have good
and responsible currency in this State, unit
: that which is irresponsible, and based upor
O no tangible security, is discomtenanced anc
$ driven away. Actual capital cannot Yer,
we'll compete against unlimited credit, no
=. will prudent men deposit valuable and am
+ pie securities, to procure a circulation of ar
4 equal amount, while other men may REAP
: the profits of a circulation a hundred fol(
= greater without depositing or even exhibiting
: any securities at all.
t To guard against the possibility Of any
4 such evil, general law should be passed. a
\ as early day as practicable, prohibiting un
j. der severe penalties, the receiving, paving on
as money, in this State, circulating paper, 0
!, any form whatever, in the similitude of banl
=. paper, by any person or body corporate, tha
= is not, at the time, of such receiving pawn
@ out or passing authorized by some express
q law of the United States, or one of the Uni
!. ted States, or Caneda; and declaring all con
/ tracts, the consideration of which, in whole
or in part, consists of such circulating pa
Q per, as null and void, for any purpose what
. ever
0 The Executive authority has been exertec
@ TO its fullest extent, during the past year t.
: suppress the practice of illegal banking in th'
), State by causing the same to be brought be
| fore the proper Judicial tribunal, but 50 ia
without effect
This shows the necessity of some more
1 stringent Legislation upon the subject, thar
now exists, to protect the people of this State
: from an unlimited, unsecured, and wholly ir
e responsible currency, which if longer permit
ted to continue or increase, will utterly defeat
y the purposes fthe general banking law, and
; work lasting injury to the finances, busin-
, eSs, and credit of our State.
The report of the Superintendent of pub
lie instruction, will give full information re
, specting the operations of the School System
+ and the condition of the fund.
Whole number Of scholars for
1852 l44,1S3
: Whole number. of Scholars attend
f inc school, 10000
Whole amount Of money re-
] ceived. $l27,7lS ~