Article XI

Section 5. Referendum on banking laws

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Summary: REPEAL SECTION

Election Date: 1902

Votes For Ratification: 64836

Votes Against Ratification: 44620

Percent for Ratification: 59%

Percent Against Ratification: 41%

Notes: Volume 5 of the Wisconsin Board of State Canvassers Election Return Statements is missing at the Wisconsin Historical Society Archive; however, our review of effective dates for other amendments reveals that certification generally took place no later than the end of the month following the election.

Source Text: WI Bd. State Canvassers, 1848-1978, Vol. 5, 510-11; 486-89

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Resolution: 1901 JR 2

The legislature may submit to the voters at any general election the question of “bank or no bank;” and if at any such election a number of votes equal to a majority of all the votes cast at such election on that subject shall be in favor of banks, then the legislature shall have power to grant bank-charters, or to pass a general banking law, with such restrictions and under such regulations as they may deem expedient and proper for the security of the bill-holders: Provided, That no such grant or law shall have any force or effect until the same shall have been submitted to a vote of the electors of the State at some general election, and been approved by a majority of the votes cast on that subject at such election.

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