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six votes, Mr. Maxwell three votes, Mr. Bullen two votes, and Mr. Arnold one vote.

Neither of the persons voted for having a majority of the votes given, it was declared by the President that no election had been made.

On motion of Mr. Vineyard,

Ordered, That the Council do now proceed to a second ballot. And the votes being again taken and counted by the tellers, it appeared that Mr. Maxwell had received four votes, Mr. Rountree four votes, Mr. Arnold two votes, Mr. Bullen one vote, and one blank.

Neither of the persons voted for having a majority of the votes given, it was declared that no election had been made. On motion of Mr. Bullen,

Ordered, That the further balloting for a President be postponed for the present.

The following message was received from the House of Representatives by the clerk thereof.

"Mr. President-I am directed to inform you, that seats have been prepared in the Representatives' Hall, for the Governor and Council, preparatory to the reception of the Governor's Message; and that the Hon. David Newland, of Iowa, has been elected Speaker of the House of Representatives."

On motion of Mr. Bullen,

Ordered, That the Council do now proceed to the Hall of the House of Representatives, to hear the address of the Governor. The members of the Council thereupon repaired to the House of Representatives for that purpose; when the Governor delivered the following address, viz :

Fellow-Citizens of the Council

and House of Representatives:

In taking a retrospect of the past year, our most devout grat. itude is called into lively exercise to the Almighty disposer of

all good, for the very abundant harvests with which he has been pleased to reward the husbandman; our citizens are developing the great agricultural resources of this Territory: the teeming earth has brought forth in great profusion, all the products of the soil usually cultivated; our climate is of the most genial and salubrious character: with a population, intelligent, indus. trious and enterprising; our march must be onward and the time is not far distant when Wisconsin will form one of the most wealthy and populous states of this Union.

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As the members of the House of Representatives have been recently elected by the people, it is presumed they will bring with them a knowledge of the wants of their constituents, to enable them with the Council, to enact such laws as are suited to their condition; and you may rely on my co-operation in support of such measures as have for their object the good of our constituents.

At the last annual session of the Legislative Assembly, I submitted to your consideration, and you recommended, by your resolution to the qualified electors, at the late elections for members of the House of Representatives, to determine by their own votes cast at that time; whether they were for or against the organization of a State Government. I am not advised that there has been any action on the part of the people of the Ter ritory on that subject. From the recent census returns made by the United States Marshal, it appears that Wisconsin has a population of more than thirty thousand people, and it is sub., mitted to the Representatives of the people, whether any further action should be taken at present preparatory to the formation of a State Government.

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In my message to the Legislative Assembly of 1838, I recommended the propriety of memorializing Congress, asking them to amend the organic law of this Territory, so that the Council may be composed of members elected every second year,

and the House of Representatives to be composed of members elected annually. This subject has received no definite action on the part of Congress. I would again respectfully recommend your memorializing Congress on that subject at the present session. From the recent returns made by the United States Marshal of the census of the inhabitants, it appears that the po pulation has increased since 1838, more than twelve thousand, and has no representation in the Council. Taxation and representation should go together, and every qualified elector should be entitled, by law, to his voice in the selection of those who represent his interests in the Legislative Assembly. In the most populous county in this Territory there was an understanding between the electors and their candidates for the Coun-" cil and House of Representatives, that they were to serve, if elected for the term of two years in the Council, and one year in the House Representatives. The 7th section of the organic law of this Territory prescribes, "that all township officers, and all county officers, except judicial officers, justices of the peace, sheriffs, and clerks of the courts, shall be elected by the people, in such manner as may be prescribed by the Governor and Le. gislative Assembly. The Governor shall nominate, and by and with the advice and consent of the Legislative Council, shall appoint all judicial officers, justices of the peace, sheriffs, and all militia officers not herein provided for." I would respect. fully recommend to the Legislative Assembly to memorialize Congress, asking them to so amend the organic law of this Territory, as to permit the qualified electors in each county to elect all their county officers, civil and military, which are now nom. inated by the Governor and Legislative Assembly. The appointment of county officers is now made by the Executive on the recommendation of the members of the Legislative Assembly representing the different counties. It would be more satis-" factory to the people to elect all their county officers; and it

would be more in accordance with the spirit of our republican institutions. I have always believed the people competent to govern themselves. The organic law creating the Territory of Iowa, has been so amended by Congress as to permit the qualified electors in that Territory to elect all their county officers, and no good reason can be assigned why Congress should not grant to the people of Wisconsin all the rights and privileges extended to the people of Iowa. At the late session of the Legislative Assem. bly, I deemed it an act of duty to submit the following communication on the subject of the Bank of Mineral Point: "It is submitted to your consideration whether it would not be advisable to appoint commissioners by law to examine the state and condition of the Bank of Mineral Point at such times as they may deem the interests of the people to require it, and to make their reports at the commencement of each session of the Legislative Assembly. If the Bank acts in conformity with the provisions of her charter, she will be interested in letting that fact be known to the public; And if she violates her provisions, the interests of the community require that legal steps should be taken to arrest a state of things so injurious to the best interests of the peo ple." My views as submitted on the occasion referred to are not changed. The 21st section of the act to incorporate the stockholders of the Bank of Mineral Point reads as follows: "Be it enacted that if the Legislative Assembly of this Territo. ry or the Legislative authorities which may hereafter exist in any State to be erected in this Territory in which said Bank may be located, shall deem it fit and expedient for the better regu lating of a banking operation to require the deposites in a gen. eral safety fund, from this and other banks, hereafter to be enacted with the view to the adoption of a general system in said Territory similar to that now in operation in the State of New York, and known as the Safety Fund System, that then and in that case the charter shall be subject so far to be amended, as to

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make it conform to such a safety fund system and no further."

The New York safety fund system consists of two parts; one is to set apart a certain portion of its profits for the redemption of its bills, and this is called the fund: the other part is that which provides for the appointment of bank commissioners. From the wording of the section of the law referred to, it would clear. ly warrant the action of the Legislative Assembly on this subject.

The Bank of Mineral Point has issued what is denominated post notes, or notes payable at a future day; this is a violation of all judicious banking; it is certainly a dangerous power to be exercised by any banking institution. The time of redeeming her notes might be extended to twelve or eighteen months as well as for three or four months; if a bank is permitted to leave her legitimate business and enter the field of speculation by dealing in the staple commodity of the country, her capital will always enable her to prostrate individual enterprise, to the great injury of the people. Banks are created for the benefit of the people, and should be confined to the legitimate purposes for which they were chartered; the principle of banking on a large or small capital is precisely the same; the greatest gain at the least expense is the ruling motive of action in both, and sways with the same power the bank with one hundred thous. and dollars capital in a country town, as one of millions in a great commercial metropolis: the whole difference consists in the influence and power of their respective institutions.

Among the subjects of much importance to the people, there is one to which I would respectfully call your attention. That is the creating corporations and granting charters. Corporations are of two classes-those established for public purposes, and those for purposes of a private nature; the first class consists of those for religious purposes, as churches-for the promotion

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