held the opinion that the incorporation of any banking institution in the territory was expedient at the present time. But who would presume to say that the future wants of the people will not require a bank? That in some future time the establishment of a bank may not become necessary to the business of our rapidly growing state? The time was not far distant, he said, when Wisconsin would take rank among the first states of the West! Her population was increasing rapidly, and if they should continue to increase in the same proportion, how long will it be before Wisconsin may become the great dazzling luminary of this western horizon? We are a great agricultural state and are obliged to compete with all western states for a market for the products of our soil. Suppose we discard now and forever all paper circulation, by inserting a clause in this constitution to that effect-how could our farmers dispose of the products of their farms? Was it to be supposed that purchasers would be at all likely to come here to buy when they can do so with greater facility elsewhere, and that probably nearer at home? And would it not be a much easier way for them to purchase in the neighboring states, with good bank bills, than to come here with their kegs of specie? He thought it would, and their trade be drawn off to another quarter if this measure prevailed.

He was disposed to leave this matter to the people; he had confidence in them and the future legislatures; he did not fear the integrity of two-thirds of our legislature being overcome by monopolists. The "hards," as they call themselves, are anxious to thrust this measure through now, because, forsooth, as they aver, they know this convention to be "hard," and are fearful of some future legislature being "soft," and they would never again be able to do it. Was this Democratic-to mistrust the people in all future time? To effectually close the door against their future action in the matter, however much they might desire it? It did not sound much like Whig principle, and he thought it must therefore be called Democratic. This convention might legislate till doomsday, and still the people would act as they chose in regard to this matter of circulating paper money from other states. If there were any paper money in

circulation, he believed the people would prefer that it should be of Wisconsin banks than those of other states. If there were two sorts of paper money in circulation East, the good and bad, the bad was certain to find its way out here, while the good was kept at home. It frequently passed from hand to hand for some time before its character was discovered, as it was not every man who carried a bank note list in his hat or in his head, to distinguish between the good and the bad. Indeed, it sometimes happened that with such advantages even it was impossible to discover the difference. And while upon this subject he would say that it is equally difficult to distinguish between the real and the bogus of the "harder" circulating medium. But if we had a bank established in our own territory under good and wholesome restrictions we could depend upon it as good, as its operations would be carried on before our own eyes. He had one word to say in regard to the remark of the gentleman from Dane (Mr. J. Y. Smith) and which was the cause of his rising at this moment. That gentleman in the extended scope of his imagination reduced money, labor, and everything else; and, not satisfied with that, had annihilated every vestige of paper money throughout the whole United States. He thought the gentleman should have borne in mind the old proverb-"Those who live in glass houses should not throw stones"-in his argument. He had said the great dividing line between the Whig and Democratic parties was the bank question, and he would ask how long that has existed. The United States Bank, which the gentleman had prated so much about, is well known to have been chartered by a Democratic administration. It is equally as well known that Martin Van Buren was zealous in his endeavors to have a branch of this same monster located in Albany under his own immediate supervision. And it was still better known that George M. Dallas in the bitterness of his opposition to General Jackson's veto of the charter of the United States Bank attempted to urge it through the Senate by a two-third's vote! And yet these men were considered pretty good Democrats. He thought these banks were always Democratic measures until they found they could make nothing more of them, and then they turned and

barked at them as ruinous to the interests of the dear people. How was it in the state of New York, where in a convention most emphatically Democratic they had authorized the banking system? And did the Wisconsin Democrats disown the Democrats of New York as brothers of their political creed and set themselves up as the only pure and immaculate Democrats of the land? He should like to know where the dividing line was drawn in this case. The Democracy of the present day was something exceedingly difficult of comprehension; it was all things to all men-all expediency.

Mr. Noggle next took the floor and occupied the attention of the committee until the usual hour for a recess. He was in favor of inserting penalties in this provision of the constitution and of prohibiting the circulation of all paper money in the state after a certain length of time.

Upon his taking his seat, a motion was made to rise and report progress, which was put and carried, and the committee rose.-Express, Oct. 20, 1846.

Marshall M. Strong introduced the following resolution, which was read, to wit: "Resolved, That the fourth standing rule be so amended that resolutions may be considered under the third order of business, Provided, however, That one hour only shall be occupied in the first three orders of business, and that under the fourth order of business the business which has most progressed shall be first taken up, and of that portion of the business which is in the same state of progress that which was first introduced shall be first taken up, and it shall be the duty of the president to put all questions arising in regular order without any special motion therefor, and that all motions to lay any question on the table and all motions in relation to the priority of business shall be decided without debate, and that all resolutions heretofore laid upon the table by the convention shall be taken up and placed in their regular order of business."

Mr. Judd moved that the fourth standing rule be suspended in order that said resolution may be now taken up and acted upon by the convention, which was decided in the affirmative. The said resolution was then adopted.

Moses M. Strong moved that the convention adjourn to two o'clock P. M., which was decided in the affirmative.

TWO O'CLOCK P. M.

The convention resolved itself into the committee of the whole on article No. 1, "[Article] relative to banks and banking," and the minor

ity report thereon, Mr. Agry in the chair. And after some time spent therein the committee rose and reported progress thereon and asked leave to sit again. Leave was granted.

On motion of Mr. Whiteside the convention adjourned.

Under the new rule the first order of business was the consideration of the reports of the committee on banks and banking in committee of the whole, and Mr. Agry was called to the chair.

Mr. Elmore said he was a progressive Whig; this business had already progressed far enough, and he wanted to vote. He believed every gentleman came here with his mind made up on the subject of banking and was ready to vote upon it. He was a "hard" and would go for the most effectual mode of preventing banking operations or the circulation of paper money.

Mr. Randall then took the floor against the penalty clauses and the prohibition of foreign paper money. He believed the first to be unconstitutional and the latter against the wishes of the people.

Mr. Elmore made some further remarks, and Mr. Burnett rose, who went against the amendment of Mr. Hicks and the report of the majority of the committee. The amendment offered by Mr. Baker met his views and would receive his support.

Mr. George B. Smith took advantage of a slight lull in the discussion to get even with his colleague from Dane, by treating his constituents in the gallery with a lengthened and elaborate discourse, showing how peculiarly his wonderful powers of debate fitted him for a future legislator or representative. In the course of his remarks he gave quite an interesting history of the rise and progress of "that letter," which no doubt operated wonderfully upon his delighted constituency in the gallery.

Marshall M. Strong moved that the committee rise and report progress, which motion prevailed, and the committee rose and obtained leave to sit again.

The convention then adjourned.-Express, Oct. 20, 1846.

THURSDAY, OCTOBER 15, 1846

Prayer by the Rev. Mr. McHugh.

The journal of yesterday [was] read and corrected.

Mr. Kellogg moved that Mr. Henry Barnard be invited to take a seat within this hall during his stay in this place, which was agreed to.

The resolution in relation to electing an additional secretary was taken up, when Mr. Dennis moved that it be laid on the table, which was agreed to.

Mr. Magone moved that John H. Tweedy, a member of this convention from the county of Milwaukee, be admitted to his seat, which was agreed to.

Mr. Baker offered the following resolution, which was read, to wit: "Resolved, That there shall be paid to the printers at Madison, who furnish newspapers to the members of this convention under the resolution adopted by the convention, six cents apiece for such papers, and for reporting and publishing therein the proceedings of this convention." The resolution relative to the adjournment of this convention was then taken up, when Moses M. Strong moved to strike out of said resolution the words "Monday, the twenty-sixth of October," which was agreed to. Moses M. Strong then moved to fill the blank with the words, "Monday, the second day of November." Mr. Kellogg moved to lay said resolution on the table. Moses M. Strong called for the ayes and noes, which were not ordered. And the question having been put on laying said resolution on the table, it was decided in the affirmative.

Moses M. Strong's resolution to adjourn in three weeks from the commencement of the session was taken up. Mr. Strong remarked that the convention had been so dilatory so far that he had abandoned all hope of their being able to close their labors at so early a day as that named in the resolution, but he thought it absolutely necessary to appoint some day for adjourning.

Mr. Kellogg moved that the convention adjourn when they get through their business. He did not believe it possible to determine on what precise day the convention could conclude their sitting, and he was averse to naming any particular time; he thought that when the convention did get through they would adjourn and go home.

The resolution was laid on the table indefinitely.-Express, Oct. 20, 1846.