Van Steenwyck v. Sackett
Wisconsin Supreme Court
APPEAL from the Circuit Court for Dane County. This was an action by the bank comptroller of this state upon a bond in the sum of $12,500, executed October 8, 1860, under section 17 of the G-eneral Banking Law, by the defendants Sackett and Lawrence, the former as sole owner and the latter as surety for the Portage County Bank.
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APPEAL from the Circuit Court for Dane County. This was an action by the bank comptroller of this state upon a bond in the sum of $12,500, executed October 8, 1860, under section 17 of the G-eneral Banking Law, by the defendants Sackett and Lawrence, the former as sole owner and the latter as surety for the Portage County Bank. The condition of the bond was in these words: “ Whereas the said banking association purposes to receive, has received or may hereafter receive from said bank comptroller, circulating notes to the amount of fifty thousand dollars under the provisions of the act, above…
1Opinion of the Court
The following opinion was filed October 11, 1862.
By the Court,
PAINE, J.
A majority of the .court is of the opinion that it is incompetent for the legislature to amend the Banking Law without submitting the amendment to a vote of the people. The law itself so provides, and this conclusion seems necessarily to result from the view taken of the nature of that law in the case of The State ex rel. The Reedsburg Bank, vs. Hastings, 12 Wis., 47. We there held that the Banking Law was in the nature and had the force and effect of a constitutional provision. The people reserved the power to legislate…
2Cases cited1 opinion
- State ex rel. Reedsburg Bank v. HastingsWisconsin Supreme Court · 1860
3Cited by12 opinions
- Sloane v. AndersonWisconsin Supreme Court · 1883
- Anderson v. SloaneWisconsin Supreme Court · 1888
- McCabe v. SumnerWisconsin Supreme Court · 1876
- Northwestern National Bank of Superior v. City of SuperiorWisconsin Supreme Court · 1899
- McIndoe v. HazeltonWisconsin Supreme Court · 1865
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