The history of Columbia County, Wisconsin, containing an account of its settlement, growth, development and resources; an extensive and minute sketch of its cities, towns and villages--their improvements, industries, manufactories, churches, schools and societies; its war record, biographical sketches, portraits of prominent men and early settlers; the whole preceded by a history of Wisconsin, statistics of the state, and an abstract of its laws and constitution and of the constitution of the United States
McGregor, John P.
Banking in Wisconsin, pp. 191-197 PDF (3.4 MB)
LUMBER MANUFACTURE. northern portions of the states of Michigan, Wisconsin and Minnesota. For a quarter of a century these fields have been worked by lumbermen, the amount of the yearly production having increased annually until it reached the enormous figure of 4,000,ooo,ooo feet. With all of this tremendous drain upon the forests, there can be pointed out but one or two sections that are actually exhausted. There are, however, two or three where the end can be seen and the date almost foretold. The pineries of Wisconsin have been drawn upon for a less period and less amount than those of Michigan, and, it is generally conceded, will outlast them at the present proportionate rate of cutting. There are many owners of pine timber lands who laugh at the prospect of exhausting their timber, within their lifetime. As time brings them nearer to the end, the labor of procuring the logs, by reason of the distance of the timber from thewater-courses, will increase, and the work will progress more slowly. In the future of this industry there is much promise. Wisconsin is the natural source of supply for a very large territory. The populous prairies of Illinois and Iowa are near-by and unfailingmarkets. The broad plains of Kansas and the rich valleys of Nebraska, which are still in the cradle of development, will make great drafts upon her forests for the material to construct cities in which the first corner-stone is yet unlaid. Minnesota, notwithstanding the fact that large forests exist within her own confines, is even now no mean customer for Wisconsin lumber, and the ambitious territory of Dakota will soon clamor for material to build up a great and wealthy state. In the inevitable progress of development and growth which must characterize the great west, the demand for pine lumber for building material will be a prominent feature. With the growth of time, changes will occur in the methods of reducing the forests. With the increasing demand and enhancing values will come improvements in manipulating the raw material, and a stricter economy-will be preserved in the handling of a commodity which the passage of time only makes more valuable. Wisconsin will become the home of manufactories, which will convert her trees into finished articles of daily consumption, giving employment to thousands of artisans where it now requires hundreds, and bringing back millions of revenue where is now realized thousands. Like all other commodities, lumber becomes more valuable as skilled labor is employed in its manipulation, and the greater the extent to which this is carried, the greater is the growth in prosperity, of the state and its people. BANKING IN WISCONSIN. By JOHN P. McGREGOR. Wisconsin was organized as a territory in 1836, and the same year several acts were passed by the territorial legislature, incorporating banks of issue. Of these, one at Green Bay and another at Mineral Point went into operation just in time to play their part in the great panic of 1837. The bank at Green Bay .soon failed and left its bills unredeemed. The bank at Mineral Point is said to have struggled a little longer, but both these concerns were short lived, and their issues were but a drop in the great flood of worthless wild-cat bank notes that spread over the whole western country in that disastrous time. The sufferings of the people of Wis, consin, from this cause, left a vivid impression on their minds, which manifested its results in the legislation of the territory and in the constitution of the state adopted in 1848. So jealous were the legislatures of the territory, of banks and all their works, that, in every act of incorporation for any purpose, a clause was inserted to the effec~t that nothing in the act contained should be 191
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