Wisconsin tribune. (Mineral Point, Wis.) 1847-1854, 1853-01-13

and give US the benefit of its circulation,
without risk or hazard.
But if this law is to be so perverted from
its legitimate object and obvious design, as
to be the means, through the banks, of its
creation, to throw broadcast over the State,
doubtful or irresponsible currency, of in
definite amount, under the seeming guize
of a faithful adherence to its provisions,
then, indeed, viii that, we fam hoped would
be 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
doing this violence to the law, Will be or
gained. But it is the part of wisdom to
foresee the evil and guard against it, rather
than it should come upon US by surprise
One thing Is certain: We shall never have
a good and responsible currency in this
State, until that which IS irresponsible, and
based upon no tangible security, is discoun-
tenanced and driven away. Actual capital
cannot very well compete against unlimited
credit, nor viii prudent men deposit valua-
bic and ample securities, to procure a cir
culation Of an equal amount, while other
men may reap the profits of a circulation a
hundred-fold greater, without depositing or
even exhibiting any securities at all.
To guard against the possibility of any
such evil, a general law should be passed,
at as early day as practicable, prohibiting
under severe penalties, the receiving, pay
ing out or passing as money, in this State,
circulating paper, Of any form whatever, in
the similitude of bank paper, by any per
son or body corporate, that IS not, at the
time, Of such receiving, paying out Or pass
ing authorized by some express law of the
United States, or of one of the United
States, or Of Canada; and declaring all
contracts, the consideration Of which, in
whole or in part, consists of such circula-
I ting paper, absolutely null and void, for any
purpose whatever.
/ The Executive authority has been exert
ed to its fullest extent, during the past
year, to suppress the practice Of illegal
banking in the State, by causing the same
to be brought before the proper judicial tn
bunal, but SO far without effect.
This shows the necessity Of some more
stringent Legislation upon this subject, than
now exists, to protect the people Of this
State, from an unlimited, unsecured, and
wholly irresponsible currency, which if
longer permitted to continue, or increase,
viii utterly defeat the purposes ofthe gene
raj banking law, and work lasting injury
to the finances, business, and credit of our
State.
The report Of the Superintendent Of pub
He instruction, viii give full information
respecting the operations Of the School
System, and the condition of the fund.
Whole number Of Scholars for
1852, 144,788
i Whole number of Scholars attend
ed school, 10000
/ Whole amount of money re
ceived. Splits 40
Due on lands sold, 68l,931 Il
loans for 1852, 132,491 GA
In Treasurer's hands 4,777 Is
Your attention is especially invited to
the recommendations of the Superinten-
dent, relating to School Libraries, Normal
Schools, and School Journal
The labors Of Gen. Smith, in collecting
the materials for documentary History O
Wisconsin, have been 50 far highly encoura