Mineral Point weekly tribune. (Mineral Point, Wis.) 1859-1868, 1860-01-10
These notes are secured by the depo sit
of specie and public stocks, as follows:

G Hsaa...se a: -: s sss:sss
virginia 5l,6U
Wisconsin :. -. 10000
Minnesota -......- 10000
Racine s Mississippi Railroad Company
.Mi1waukee Mississippi Ratiroad oonpany
Total ............ .zs7s,i2o
sp ,-ie Of organized Banks. s2s,sa4 %
sp Gle of Banks winding up lS2,2ol "
- 4l5s,446 50
Total securities on deposit. o,lss,s6s SO
The amount Of the Bank Tax
during the past year was 1lS,SOo IS
The present Comptroller suggests that
it is evident the original Banking Law of
this State intended to provide only for
the establishment of business Banks, and
not of banks of : sculation merely, and
that banks of the latter class were always
evasions of the law. To make this clearer,
the act of May Is, 1853, was passed, d.
recting the Bank Comptroller "to refuse
g to issue any circulating notes to any
Banking Association, unless he shall have
satisfactory evidence that such banking
+" association has not been, or is not to be
" organized for the purpose of issuing cir
"culating notes merely, but was, or ia to
"be, organized for the purpose of doing .
f" banking business by discOuntiDg bills,
"notes, and other evidences of debt; by
receiving deposits; buying and selling
I" gold and silver bullion, foreign and in
land bills Of exchange by loaning mon
"ey on real and personal security, and by
" exercising such incidental powers as may
'be necessary to carry on such business, at
"the place where such bank purports to
+" be located y
After the passage of that act it was the
practice of his predecessor to require from
such new Banking Associations as were
organized, the affidavit of some officer or
stakeholder that the association was form
ed for the purposes indicated by this law,
and such affidavits were taken as "sdtis-
factory eDidence.n- 1t is plain that not
withstanding these precautions, some
Banking Associations are kept up for tho
purpose of circulation merely, and with
out doing or intending to do o banking
business, and without keeping an office, as
required, for the redemption Of their cir
culating notes"
1.-The evidences of these facts existing
in the Bank Department are as follows:
First, Inc semi annual Reports of q
number of banks show conclusively that
they are engaged in no banking business
whatever, except the issuing of circulating
notes. Second, in several cases protests of
circulating notes have been filed in that
office, showing the presentation of such
notes at the pretended place of business of
the bank purporting to issue them, and
the existence, there, of any Office for
the redemption of the notes"
The Comptroller suggests that he will
unhesitatingly refuse to issue further cir
culating notes to Banks of this class, when
they are known but action in regard to
such as have escaped or may hereafter es-
cape the vigilance OF his office, seems to
pertain TO some other Department of the
Government.
a case is referred TO where the period
of the termination of the association" has
passed and no new certificate of associa-
ton filed. The Bank is in operation
without authority of law, and there is no
power in that department to efficiently
interfere. IL all such cases the Comp
troller should be clothed with power to
close up the business of the association,
and the attention OF the Legislature is
invited TO the subject. | have no doubt
that the Legislature has power to amend
the banking law of this State without SUBJ
uniting the amendments to a vote of the
people, in all cases where the amendments
do not change the principle of the Banking
law, but merely aid in carrying out its
true intent and meaning, and tend to per-
feet the system and protect the pubic.
CHARITABLE INTIrUTIONs-THE STATE Ho.PI-
TAIL FOR THE INSANE.
The buildings of this institution will not
be prepared for the reception of patients
before next spring.
The report of the building Commission
ers and of the Trustees, explains their
present condition and future necessities.
Institutions of the kind are everywhere
more expensive than those of any other
public character. Whether it was wise to
let the contract in the first instance to
erect so much of the proposed building. at
so early day. may be q question of doubt.
But if there was any error in it, it is now
too late to avoid it. All that has been
done would, at some time, have been nee
essary. The money expended is not lost.
The buildings, when completed according
to the present plan, will be less expensive
than those of almost every other Suite
The want of facilities for safe keeping and
successfully treating insane persons in this
State is keenly felt. The institution
should be prepared for the reception OF
patients Immediately.
Inc trustees estimate the amount OF
money required for the use of the Hospital
for the year 1860, at $2S,096 90, and for
the extension of buildings $4,000 90.
a careful examination of the reports and
of the buildings themselves, by commit
tees of the Legislature, will show the nee
essities of the Institution, pecuniarily, in
its own behalf, and as public charity, in
behalf of the unfortunate class it is design
ed to relieve.
STATE REFORM SCHOOL.
At the last session of the Legislature,
ten Thousand dollars were appropriated to
enable the Commissioners to prosecute the
work upon the buildings of this Institu-
ton. There was a clause in the law re-
quiring from the Secretary of State a
certificate that the title of lands belonging
10 the State upon which the buildings
were located, was perfect, before the Treas
urer was authorized TO pay the appropria-
ton. The title to the lands upon which
the buildings We're erected was certified to
be perfect. There were about ten acres
of the lands connected with the Institution
which were encountered in such man
ner that they eoull not be cleared so that
the money could be paid, if technical
construction was given to the law. Near
Is sixty acres of the land. are entarely I'M
incuEbered. The condition Of the build
ings was such that if the work had been