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Mineral Point, May 26, 1840. Sir: I have the honor to acknowledge the receipt of your communication of the 21st ultimo, with the accompanying documents. My absence on business connected with the Indian Department has prevented my answering you at an earlier date. Under the existing laws of the Territory, the proceeds of the canal lands are to be applied exclusively to the payment of the principal and in. terest not exceeding 6 per cent, payable semi-annually, on the loan or loans which the Governor may negotiate by his agents, as aus thorized by law. I do not think I have any discretionary powers that would authorize me in drawing a draft on the receiver of the canal fund for the interest of 25,000 dollars for the term of four years in advance. He might refuse the payment of any amount not authorized by the existing laws. And any proposition of the board of directors, which they may deem advantageous for the prosecution of the work on the canal, it appears to me belongs entirely to the Legislative Assembly of the Territory, who I have no doubt, would readily agree to the passage of such a law as would meet the provisions contained in the resolutions of the board of directors of the 20th ultimo. It would certainly have my con.
I view the early prosecution of the work on the canal as of vital importance to the citizens of the Territory generally, and particularly so to our fellow citizens on the borders of Lake Michigan. I am, sir, with great respect,
Your obedient servant,
HENRY DODGE. BYRON KILBOURN, Esq.
Agent for the Milwaukee and R. R. Canal.
(A COPY.) Resolutions of the Directors of the Milwaukee and Rock River
Canal, of the 20th of April, 1840. At a meeting of the Board of Directors of the Milwaukee and
Rock River Canal Company, held April 20th, 1840, the following preamble and resolutions were adopted :
WHEREAS, it is understood by a letter from S. Higginbotham, Esq. that a loan of twenty-five thousand dollars can probably be obtained in the city of New York, for the Milwaukee and Rock River Canal, at six per cent interest, on condition that four years in:erest be paid in advance; and whereas, there is now on hand a sufficient amount of money belonging to the canal fund to pay said interest, which is now unproductive to the Terri:ory, the same being in deposite without interest; and whereas, it is deemed a subject of vital importance to the country that the work on the canal should be successfully prosecuted during the present season ; and
Whereas, the said fund now remaining on hand may be made to subserve the best interests of the country by being paid out for, interest on such a loan, instead of remaining dormant in bank; thereby securing a loan so desirable, and the same time carrying out the objects of the act of the Legislature authorizing the same; therefore
Resolved, That the Governor be earnestly solicited to authorize the said loan of twenty-five thousand dollars to be negotiated on the funds aforesaid.
And, whereas, the Canal Company feel a lively interest in com. mon with the community in the early and vigorous prosecution of this measure, therefore,
Resolved, That in order to enable the Governor to carry out by this arrangement, not only the spirit but the letter of the act of the Legislature, this company will pay to the Territory (from the date of such loan) an amount equal to six per cent interest on ali instalments of interest which shall be so paid prior to the time when the same would become due in semi-annual payments on said loan, whereby the said loan will be secured to the Territory at "the par or nominal value or amount thereof,” in accordance with the terms of the act, without subjecting the Territory to any loss or deduction for interest so paid in advance.
Resolved, That the amount to be paid by this company shall be paid in cash into the canal funds at the periods when the same will become due semi-annually; or be entered to the credit of the Territory, on account of money already expended by the company in obtaining the grant of canal lands, at the option of the Governor and Legislature ; and the same shall be in either case a gratuity on the part of the company, for the purpose of aiding in securing the loan and the certain progress of the work, and shall not be charged to the future State of Wisconsin in making a transfer of the canal.
Resolved, That the foregoing preamble and resolutions be signed by the President and Secretary of this company, and be forwarded to the Governor as a voucher in his hands for the performance of the conditions thereof on the part of this company, in case a loan shall be obtained on the proposed conditions. (Signed)
BYRON KILBOURN, President. 1. A. LAPHAM, Secretary. The communication and documents having been read,
On motion of Mr. Shew, One thousand copies of the said communication and documents were ordered to be printed.
Mr. Sholes, by leave, introduced resolution No. 3, entitled
“ Resolution relating to the appointment of Wm. B. Slaughter fiscal agent ;"
Which was read the first and second time.
Mr. Conroe, from the committee on engrossed bills, reported the following to be correctly engrossed, viz :
No. 5. “A bill to attach the county of Portage to the county of Dane."
No. 9. “A bill to divide the town of Elk Horn and to organize the town of Whitewater."
On motion of Mr. Sholes, Ordered, That the communication of the Secretary of the Territory made to the House on Monday last, relating -o seals, be referred to the committee on expenses.
Mr. Whiton, from ihe judiciary committee, to which the subject was referred, made the following report:
The committee on the judiciary, .to whom was referred a bill entitled " A bill to amend an act concerning judgments and executions,” report that owing to the shortness of the present session, and the great importance of the provisions of the bill, it is inex. pedient to consider the same at present.
Mr. Childs moved that the report be accepted, and that the bill be referred to a select committee of three.
Mr. Sholes moved to amend the motion of Mr. Childs, as follows:
“ That the report on said bill be adopted.”
The hour for morning business having expired in debate on the said motion,
Mr. Shew moved that the order of business, for this morning be dispensed with in reference to the report and bill No. 10;
Which was decided in the affirmative.
Hoyt, Jenkins, Longstreet, McGregor, Ray, Shackelford, Shew, Stevens, Street, Sutherland, Wells and Dewey, speaker-17.
Noes-Messrs. Childs, Conroe, Cruson, Newman, Sholes, Story and Whiton-7.
The Secretary of the Council being introduced, delivered the following message:
"Mr. Speaker-The Council have concurred in bill No. 2, of this House, entitled “A bill to divide the town of Lake and to organize the town of Oak Creek,” with amendments, in which I am directed to ask the concurrence of this House."
Mr. Sholes moved a call of the House, and that the absent members be sent for ;
Which was agreed 10.
A call of the House was had, and the Sergeant-at-Arms sent after Mr. Whiton, who was not in his seat.
Mr. Bracken, by leave, from the select committee to which was referred a resolution relative to printing, submitted a report marked B, and moved that it be laid on the table for the present;
Which was agreed to.
The Sergeant-at-Arms having reported the attendance of Mr. Whiton, the motion before the House, moved by Mr. Sholes, amen. datory of the motion moved by Mr. Childs, was put.
And the ayes and noes being called for, were as follows:
Ayes—Messrs. Beardsley, Conroe, Cruson, Hoyt, McGregor, Newman, Ray, Shackelford, Sholes, Story, Sutherland, Wells, Whiton and Dewey, speaker-14.
Noes-Messrs. Billings, Bracken, Brunson, Childs, Craig, Jen. kins, Longstreet, Shew, Stevens and Street-10.
So the report of the committee on bill No. 10 was adopted.
Mr. Wells, from the select committee to which a petition had been referred, by leave reported bill No. 11, entitled “ A bill to organize the county of Washington and for other purposes ;"