Mineral Point weekly tribune. (Mineral Point, Wis.) 1859-1868, 1865-04-25

Toy three years from the Date thereon
proridea that the cossm ssioners shall
not deelarean such lands forfeited nntA
alter tbr expiration of sax months ziro"
the public ation of this act
Sec. g The state treas ursr Is nsIcoY
authorized to receive any sans OF money
,bot nav he paid to him in the bills OF
The barks of this state, which were In
circulation on the ninth day OF March, A
D 1865. and to give receipts tor such
sums, " hich. .receipts shall entitle the
holders thereof to receive such amount,
with interest at seven per cent. per annun
such receipts shall also be received at the
full amount thereof, ineluding interest, IN
payment of all state taxes for the year
1868, and subsequent years: prccided,
that such interest shall not be allowed be-
vond tire t!iirtv-first dav Of pecefnher
next. nor shall such receipts he Issued TO
an amount exceeding in all five hundred
thousand dollars The state treasurer
shall. on and after the first day OF .ebru>
arv. A. D. 1866, pay 70 the holders OF such
receipts, on presentation, the amounts
thereof including interest as aforesaid;
and sufficient sum of money for that
purpose is hereby appropriated.
Sec 3 The state treasurer may. ut
any time, in his discretion. when he sha
have in his possession hills OF those banks
of the state which shall fail to redeem
their circniating notes on presentation,
take means to procure in exchange for the
same, the bonds Of this state deposited
with the bank comptroller, rs security of
such bills For that purpose, he may, in
his discretion, procure from any bank
which fails 10 redeem its bills, an assign
ment Of all the bonds Of the state owned
l r. A.
curitv Of its bills, and hr shall withdraw
ard cancel the bonds so ASSIGNED, ard he
shall return te the bank comptroller for
cancellation the bills OF such bank, from
time to time. az he shall receive such bills,
and shall deem exredient so to return
them Such assignment shall tranafer to
the state the entire right and title 10 such
bonds, and the interest accrued and 70 ac-
crue thereon, together with the interest of
such banks, in such of their circula tin =
notes as may not he returned for redemn-
ton, in consideration of which ASSIGN
ment, if accepted by the treasurer, the
state viii assume the ultimate redemption
of the outstanding circulating notes and
said banks It any such bank shall ner-
lect or refuse to execute such assirnment
tC the state, the state treasurer NAV pro-
cnre the bills of such hank t. lie protest
cd, ana may take the other steps provided
hv law tC cause the securities deposited
hy such bank to I've sold for the relemr-
ton Of such bills. and to compel the
paymerr of anv deficiency upon such re-
demption: prorided, that The state treas
nrer shall so execute the discreti n re-
posed in him by this act. ~ may. without
deyertlno the means necessary to defray
current expenses. most efTrctually tend to
maintain the credit Of the state and tho
value Of the bills issued by the said hanks
In case he shall be able 10 sell any of the
bonds, which he may SO acquire at the
par value. with the accrued interest. If
any. he is hereby, authorized. in his de-
erection, to make suc'i sale
Sec 4 The bills Of oil the hanks q +
this state. except such - were in process
of liquidation on the ninth dav of March
g. D 1868. shall be received hv the state
treasurer in payment Of all dues 10 the
state
Sec 5. 1t shall he the duty Of the
bank comptroller, SO far as MAJ be in his
power, 70 aid in carving out the p-ovis-
ions of this act, according to the spirit
and purpose thereof
Sec g. It she'll be the duty Of the state
trna enrer n collect the amounts owing 10
the state from hanks npon the purchase
rnopev If the bonds Of the efats. ond ne
nav make q reas0nah and proper dis
cnpnt up0u any sucH amount in considers
alton If pr0mrt payment In any case
whern il shall plainly arpsor 70 he for tt e
hest interest # the state 70 accept in pay
ment IF the mount 50 owing from any
hank. less sum than aq above provided
i shall he lawful FOR the state treasurer.
with the nj ise and consent of tho hank
comptroller and the attorney general. to
make compromise or settlement of such
claim of the state on the best at,ainable
terms
Sec Q This act shall take effect and he
N force from and after its passage and
publication.
A nprova1 mil 1874