Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1865-04-08

upon The Eastern anu IN consequence can
no be converted at once into cash. We have,
however, not a shadow of doubt that these bonds
are to be paid, principal and interest, to the
last cent, and we have no hesitation in using the
power conferred upon us by law of investing in
them the principal Of the School Fund and other
trust funds under control, as fast as they may
become available in our hands.
We are morally certain that no safer disposition
be made of these monies, nor any which will be
satisfactory benef cia to the people of this
State. Inasmuch as the bills of the State Banks
are easily convertible into these bonds, and would
form medium OF effecting sucs conversion, conve-
nent to the people, aud inasmuch as we deem II
desirable to encourage the purchase of the state
bonds, in order to increase the funds above men
toned, we have Determined, both as a measure OF
justice and expediency, having in view permanent
we'll present Advantages to continue to recetUe
the bills Of all Wisconsin, State Banks, not in process
of liquidation, in payment of the principal sum
now owing to the State on account of any of those
funds, and also in payment of any lands hereafter
sold entirely for cash.
Wemake this communication to the honorable
body over which you pretide, in order that our
resolution, being made known to the Legislature,
may be the subject of their action, if not in accor
dance with their views.
Very respectfully yours,
LUCIUs FAIRCHILD,
Secretary of State.
SAM'L d. HASTINGS,
State Treasurer.
WINFIELD SMITH,
Attorney eneral.
Commissioners, er o6icio, of School and Univer-
sity Lends.
4n0 ACSOlubiOAp OhOAON W OSh"-
tor SMITH, was adopted, only Senators CLARK
and REED voting against it:
WHEREAS, 1t has heretofore been the policy Of
this State to create currency for the use OF our
people, based upon unquestionable securities pro-
yided for it's ultimate redemption, among which
the bonds of our own State have been regarded
equal to any as safe and desirable investments;
WHEREAS, In consequence of the existing rebel
lion, it has been deemed expedient by the Congress
of the United States, in order to diminish the
amount of bank bills in circulation, to impose
tax upon the currency Estate banks so heavy as
to compel it's withdrawal; and
WHEREAS, The bills of the banks created under
our laws must, for these reasons, be forced to
redemption; and, in some instances, the bonds
deposited by these banks may be suddenly thrown
upon an uuprepared market
Resolued by the Senate, the Assembly concurTing,
That the obligation of the State to pay its bonds
is NEST sacred and uuquestlonaDle; tnat nothing
shall be omitted on our part to maintain to the
utmost the credit of the State and to vindicae its
honor; that it is the judgment of this Legislature,
and we feel warranted in pledgng the faith OF the
| people, that no attempt will ever be made to
evade the fulflment of the obligations assumed
| by the State.
| ResoEUed further. That we deem the support Of
the currency of State banks worthy of our best
| efforts, being intimately connected with the
credit of bonds and of such importance to the
welfare of the people that we will adopt any rea-
| sonable and proper measures calculated to
sustain that currency and prevent loss thereon,
and that during the present session Of the Legisla-
| ture we will devise and enact such measures
| as may appear suitable to that end, and that we
will not hesitate, if necessary, to impose such tax
taxes for that object as shall speedily result in
absorbing that currency and retaining all the state
| bonds that are likely to be thrown upon the mar
| ket.
Resolved, That the proposed action of the School
| Land Commissioners, as this day communicated
TO the LEGISLATURE, to receive Wisconsin currency
in payment of State lands, and the principal sum
due the State on account of its various trustfunds
| meets with our unqualified approval.
ASseaa6ly-Several local bills were intro
duced.
A resolution was adopted inviting Senator
VAN WICK to give his lecture on Italy in the
Assembly Hall next Thursday evening.
| Senate bills were concurred in amending
chapter l7s, R. S., concerning change OF
venue; for supplying Webster's Dictionaries
to school districts; to amend the act requir-
ing owners of machines to guard against ac-
cidents; and to appropriate $4,000 for I'M
paid expenses of State Hospital for the In
sane during the last year.
Assembly bills were passed amending Sec
ton 20, chapter 1875, R. s., concerning plead
| ings in civil actions; amending section 4,
chapter 80, laws of 1868, in regard to civil
actions against persons in the military SER
vice; relating to collecting taxes and amend
ing section 8, chapter lis, laws of 1858, re-
lating to costs and fees, and amending section
l, chapter 23s, laws of 1862; amending chap
ter 1872, r. s., for relief of persons in jail on
civil process; legalizing marriages solemnized
by Court Commissioners; changing bounda-
ries of Assembly district in Grant Co. The
| Senate resolution to maintain our State bonds
at par was concurred in.
MONDAY EVENING, March 13.-Senate-Bills
were introduced to provide for supplying
omissions and defects in record evidence in
certain cases, under the assessment laws; sup
Elementary to and explanatory of section /,
chapter IA of the general laws of 1865, au-
thorizing localities to raise volunteer bounty
taxes, relative to the disposal of any surplus
funds that may remain after filling the quo
tas of such localities to amend section SO OF
chapter 10 r. s., providing for the approving
of sheriff's bonds in case the persons now au-
thorized to do so are absent.
Several local bills were passed, but none
/ of general interest. Bills were indefinitely
postponed to amend section Is of chapter $50
L
r. s., so that certain errors should not in
validate indictments; and to amend section
| of chapter 81 of the laws of 1858, so as to
allow railroad directors to be interested in
contracts in certain cases.
Assena6ly-Hon. A. A. STARKs was allowed
to record his vote on the abolition constitu-
tional amendment, and voted Aye.
Petitions were presented for a repeal of
the law requiring the publication of delin-
quent tax lists, and against the passage ofthe
bill requiring insurance companies to deposit
State bonds with the State Treasurer.
!, Bills were introduced for the removal of
the county seat of Pierce county; requiring
certain officers of railroad companies to be
citizens and residents of the State; to auth
orize the conversion of State Banks into Ma
tional Banks; to facilitate the collection of
taxes and perfection of tax deeds; and to ap-
propriate $2,62S to aid in completing the
soldiers national cemetery at Gettysburg
f, Also a number of local bills.