The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1865-05-04
LAWS OF WISCONSlN-OFF
Published April 4 1861
CR PIER 2S2.

AN ACT to facilitate the conversion of the state
7rrency, aud to provide tor takiog up Ger,
tain state bonds.
The people of the state of Wisconsin, represent
ed i'll senate and assembly, do enact Us fol
lows;
Sectinn |. Payment of the purchase money
l. required to be made Immediately all GER
tihcaies OF .ale IF school, swamp and other stae
lands heretofore issued, in eli cases whore more
man year has elapsed since such purchase
money became due according tn The terms Ut
such certificates and IN II other cases. such
payment shall tie required a year
rhall eiapse after the purchase n"ney shah have
bec"me due. Payment is also required to- be
made immediately upon all loan aud purchase
money mortgages executed TO t. stete. IN ali
cases where such mortgages have been due &C.
col ding 10 their terms for more than one year
aud In all other cases, payment of such mort
gages shall be required one year after the same
shall have become due according TO their terms
The G. mmissiOners of school and university
lands are hereby authorized to forfei. all lands
on which the payment shall not be made ac-
cordIhg To the foregoing requirements, except
iAndS belonging to persons IN the military or
naval service OF the United States, minor heirs
ana widows OF persons who have died in the
military or naval service OF the United States
snail not be forfeited under The provisions of this
ael, tor three years from the date Of The passage
thereof; pr0Utded, that the conn. issOners shall
tie expiration of six months from the pubca-
MON OF this act
Sec. The siete treasurer is hereby au-
thorlzsd to receive any sums OF money that NAV
Gs pad to him in the bills of tue baAks of this
state, which were in circulation the niuth
day ct March, A. d. 1865, and to give receipts
Tor such sums. Which receipts shall snttls the
hGidera thereof to receive srch amount, with in
ttreSi at seven per cent per annum Such re.
ceips shall al-o be received at the full amount
.ln1tr
state taxes for the ear 1855, and subsequent
years: PrOU!ded that such interest shall not be
allowed beyond the ihr y-tirst DAY OF Decem
Der next, nCr shall such receipts be issued 10 an
amount exceeding in all five hundred thousand
dollars. The state treasurer SHALL on and after
the first day of February. A. u. 1866. pay to
tae holders of sucl receipts, on presentation,
nc amounts thereof, Including interest 90 Sfore-
said and Il sufficient sum Of money tor that
purpose il he coy appropriated
Sec. 5. The state treasurer may. at any time, |
In els discretion when he shall have in his pos |
-eesi'n bills 81 nose banks If the state which |
shall Ian 10 redet III tLelr Circulating notes On |
psesenta len lake means to procure IN exchange |
i"r the same, The oonts If this -tale deposited |
" tn The BANK comptroller, as security for euch |
bills For that purpose, he may, in his discre- |
ii0l, procure f ON any bank which ia to re- !
deem It's bills. assignment of all the honda of
the stale owned by such hank, aud ON deposit |
tor the security ot it's bills, and he shall with. !
draw and cancel The bonds assigned aud he |
halI return tu The bank comptroller for cancel, |
lat'nu the bii5 Of such bauk from time t. time
hs he sh ali receive such bills, and shall deem
eXp-d eut 80 To retarL Them Scch assignment |
shalt transfer TO The staie HE entire right aud
tue 10 such bonds. ana the interest accrued
aud TO accrue thereon, together with the interest
~ such banks In Snch Ut their cIrUu tatjng no,s,
as may net be returned for redemption, 10 CON |
elderatlon Of which assignment, If 6ccep ed by
tue treasurer the sac will assume tie nltinat,
redemption of the outs landing circulating nuie
OF said banks. Il aIy suGh tank shall neglect
or refuse 10 execute such ASST utncnt 10 the state
the state treasurer may procure the bills oi uu \
bank 20 be pCo+es,ed, aud mas take the Other
steps provided by law to canse fae securities
deposs' cd by such bank 10 be did fur The 10
utm2ti"n Of such bills, and to compel The pay
.nent of any det:Ie upon UGH REDEEM utiun
pr0rided, that tbe stare treasurer shal 20 exc
cate the dlscietinn epDseu Ia hmn by this aeI !
a. may, without diNerfins the means necessary
10 deiiay cur e expenses, most effcc uaily tend
DIaintaa the credi' OF the state and the va.us
ri lie bills issued ty tie said hanks In c4se
he shai' be adj etu sell any Of the bonds which
he may so acquire, at the par value, with tie
accrued interest. il any, he is Hereby authorjz
cd IN h,s discreet )n, TO make such sale.
sec The bills of ti banks OF this state
except such as we're in process of liquldstion
on the Dintl of March, A. ID. 1865. shall be re
oeiVed by tie state treasurer in payment tor all
due. TO the state
Sec. S 1t shall be the daty of the benk comp.
f'0ller so tar AZ may be in his pawer. to aid in
carrying out the provisions of Ibis act, accord
ing 20 he spirit and purpose thereof. i
Sea o. 1t shall be the duty OF the state treas
urer to collect the amounts owing 10 the stat G
from banks upon the purchase money uf the
b"nis oi The sI"ie and he may makt reason,
able and proper discount upon any such amount,
in consideration Of prompt payment. Ia any
case where it shall plainly appear to be for the
best interest ct the state to accept in payment
"f the amount 8" owing from any bank, less
iOr the siate treasurer with the advice and con-
sent of the bank comptroller and the attorney
general. to make compromise settlement Of
such claim Of the state on the best attanabe
terms
Sec, Z. This act shall take effect from and
alter Its passage and publication
Approx ed April 3. 1865.