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Wisconsin Question 2, General Banking Law Referendum (1867)
| Wisconsin Question 2 | |
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| Election date |
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| Topic Banking policy |
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| Status |
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| Type Legislatively referred state statute |
Origin |
Wisconsin Question 2 was on the ballot as a legislatively referred state statute in Wisconsin on November 5, 1867. It was approved.
A "yes" vote supported modifying the general banking law in regard to circulation of its money and interest on loans. |
A "no" vote opposed modifying the general banking law in regard to circulation of its money and interest on loans. |
Election results
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Wisconsin Question 2 |
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| Result | Votes | Percentage | ||
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45,796 | 79.45% | ||
| No | 11,842 | 20.55% | ||
Text of measure
Ballot title
The ballot title for Question 2 was as follows:
| “ | For amendment to the banking law Against amendment to the banking law | ” |
Full text
The full text can be read below:
AN ACT to amend the general banking law of this state.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SECTION 1. Any bank or banking association organized under the general banking law of this state, desirous of redeeming and winding up its circulation without discontinuing the business of banking, is hereby authorized to redeem and wind up its circulation in the same manner, in all respects, as is provided in said law for banking associations desirous of discontinuing the business of banking; but such redemption, deposit and publication of notice shall in no wise release such bank from the payment of taxes to the state, or in any manner affect the chartered rights of such bank or banking association.
SECTION 2. It shall be lawful for any bank or banking association organized and doing business under the general banking law of this state, to demand and receive for loans and discounts, such rate of interest as shall be allowed by law to be taken and received by individual citizens, and by corporations other than banking associations in this state.
Approved April 12, 1866.
Path to the ballot
In Wisconsin, a referred state statute is required for laws that extend "the right of suffrage to additional classes," per Article III, Section 2 of the Wisconsin Constitution. Before 1902, referred statutes were required for laws that affect banking.
A simple majority vote is required during two legislative sessions for the Wisconsin State Legislature to place a referred statute on the ballot. That amounts to a minimum of 50 votes in the Wisconsin State Assembly and 17 votes in the Wisconsin State Senate, assuming no vacancies. Statutes require the governor's signature to be referred to the ballot.
See also
Footnotes
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