Mineral Point tribune. [volume] (Mineral Point, Wis.) 1854-1858, 1855-01-17


in other States, and the money panic, which OF
late has SO generally prevailed, but one OF the
institutions, organized under the general law OF
this State, is reported TO have failed TO redeem
promptly its notes. As an evidence of great de-
termination, on the part of bankers to merit con-
hdeuce, in nearly every instance, upon the request
of the Comptroller additional securities have been
deposited TO amount corresponding with the
recent decline in the market value Of stocks or
by the return TO the Comptroller of an amount
of circulating notes. equal to such depreciation
The promptness evinced by the banks, in thus
spending and the sound discretion exercised in he
management of department SO important TO the
credit and business interest of the State, carnot
but command your appreciation.
Our banking law although generally regarded
as being well adapted to the interests Of
the bill holder, any " hch could we'll be framed
vet il is void of detects, winch pointed out
in the report Of The ComPtroller and will, trust
receive your attentive consideration, and in that
connection it may be well to consider whether
there is not class of securities within our own
State, of the nature of bonds issued by some of
the principal cities that may under proper re-
strictions be received the basis of banking
The present unsettled condition of monetary
affairs which is pervading the country so gener-
ally, and more recently brought nearer home 10
US, with increased deeterous effects in conse
quence of numerous Bank failures in neighboring
ton of the subject, and urge on you the necessity
of such enactment will, as far as practicable
provide remedy, and protect the people against
the imposition and fraud, so frequently practiced
by the introduction and circulation OF doubtful
currency. broug ht TO State and forced into
very general use-not unfrequently through the
aid of our local bankers, who neither hold Them
selves responsible for its redemption nor make ii
a source of revenue 10 the State, BY the payment
of a tax upon the capital, if any there is thus
employed. The effects of this practice upon the
legitimate business of banking, under the law of
this State is 10 discourage and frequently cripple
those institutions which establi shed in good
faith under it For while the banker, under our
law, is required to amply secure every dollar is>
sued-redeem those issues, on demand in coin and
pay State tax upon his whole capital, he is ire
quently compelled in self defence, to place foreign
insecure issues, certain extent. upon an equal
Ity with his own-thereby giving counienapce
and credit to cni rency, having lis origin in parts
too far removed To nst,ie safety and liable sooner
or later, TO become worthless 10 the holder
Viewing this mailer in the light do, | can arr
rive at other conclusion, than that Justice 10
he State. well the Banking institutions es-
tablished under lis laws and The safety OF the bill
holder demand OF you either to provide for pro-
hibiiins the circulation of all foreign bank notes
not secured IN a manner equal to own; or at
least, require far as practicable, such bankers
s may issue foreign notes. to treat them in all
respects their currency. issued in conform
it to our banking law, and render it. subject 10
til. same requirements. in every important par
tic Ilar.
\ report, in detail, of the condition and wants
of he State Prison. is submitted by the Commits
sioler thereof, TO which | invite your earlv and
careful attention. During The year S53, Henry
81 OWN, then Commissioner contracted with An.
drew Proudft, to erect the stone work of the south
IL De- L
quenty, the present Commissioner made other
contracts. for the remaining portions of the work
and material necessary for the completion of the
same. The whole structure is now very nearly
finished and il is intended to place the convicts
within it. during the present month This build
ing is Of the most permanent and substantial char
acter, being fire proof, goo by 50 feet four stories
high, and containing two hundred and eighty eight
cells, and it is TO be hoped will be sufficient for
the purposes intended for many years TO come
As matter of Just convenience 10 the officers in
charge. and for the purpose of ensuring against
escapes, the main building ought 10 be erected, as
soon as the means for that purpose without en-
barrassing the Treasury, can be appropriated -
" nile convict labor has contributed much toward
the erection of the building. still there is vet over
and above all former appropriations made for
that object. large sum due TO contractors-be>
SIDES considerable balances, for the maintenance
and management OF the prison, which il will be
your duty to examine into, and provide for Pro-
vision mace, AT the last session of the Legis>
lature, for rexarding convicts for overwork-
While this principle may be just and worthy in
its tendencies, regard the practice of paying TO
the convicts themselves any portion of such earn
ings, until after their discharge, liable 10 work
great evils. by being improperly used, they not
unirequenty are, and in a manner affecting the
prison discipline and the security of prisoners
If such earnings be confined TO the support OF
- &. L..
them, during their imprisonment, and in cases
where they have families. the money be re-
tanned until the discharge of the convict, the main
objections TO the practice OF rewarding them for
their labor is in my mind overcome The cues
ton whether convict labor can be proftably en-.
ployed, without working serious injury 10 such
of our citizens engaged in the mechanical
manufacturing pursuits has often been serious
ly discussed. and il is still doubtful what NAV be
the duty of the State in Inc premises Now that
comparatively little labor will, for some wears to
come. be required of the convicts in the erection
of prison buildings, and entertaining grave doubts
both as to the policy and propriety of the States
engaging lis manufacturing articles for sale bv
convict labor submit TO your consideration the
propriety of authorizing the letting to the highest
bidder for term of years. such of said labor to
be used within the prison enclosure, cannot be
prohtably employed by the State in the erection
of Misunderstanding the contractor to furnish
MS own tools and shops TOR such labor: Thus
throwing the whole matter open 20 competition.
and relieving the State of great responsibility and
perplexiiy connected with the same
In my first message TO the Legislature urged
upon their attention, the propriety Of adopting the
preliminary measures te secure the erection of an
Institution for the benefit oil the Insane An act
WAS passed at that session. authorizing tie Goyen.
or 10 appoint three Commissioners and Superin.
lendenf who were clothed by law with power 10
purchase suitable grounds and TO erect the neces.
sary buildings. In April last, the appointments
contemplated by that made, since which
time. appropriate grounds for that purpose, near
the village of Madison have been purchased and
conveyed tc the Stale, and contracts entered into
for the erection Of buildings upon the most mod
and approved pans The main building and
two wings are, by the terms OF the contract TO be
in readiness for the reception Of patients by the
first day OF January, 1886. The appropriation
for this object being small compared with the
magnitude of the work. evidently intended
simply 10 secure the commencement OF the I'M
dertaking As to the propriety of prosecuting
with energy such an under taking, so praiseworthy
and Just in its character need lot here urge upon
e. -, 4