Sec.[Section] 1. Be it enacted by the people of the State of Illinois represented in the General assembly. That, the capital Stock of the Bank of Illinois shall be and the same is hereby increased in the sum of Two Millions Eight hundred thousand dollars to be subscribed as hereafter directed; Provided the consent of said Bank, shall have been thereunto first given, by an entry on its books, under the direction of the board of directors which shall be certified under the seal of the corporation, to the Board of Fund Commissioners, and to the secretary of state, the same to be by him filed in his office.
Sec 2nd Said Board of Fund Commissioners be, and they are hereby authorised and empowered to negotiate a loan on the credit and faith of the state, as, and for the exclusive and sole purpose hereinafter provided, for a sum or sums not exceeding Two millions Eight hundred thousand dollars, as the same may be needed and wanted for the purposes hereinafter set forth, which shall be required to be paid at such times and such instalments, as the same may be needed to carry into effect the object of this act
Sec 3rd Said Board of Fund Commissioners shall [certificates?] ^make out^ certificates of stock for the said loan, to be called “the Illinois Bank and Internal Improvement Stock,” which shall be signed by the Governor, and countersigned by the auditor and Treasurer, with the great seal of state affixed thereto; bearing interest not exceeding six per centum per annum, payable semi-annally at either of the banks
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hereinafter named, or either of their Branches or at some bank in the city of New York, Philadelphia, Boston, or Baltimore or either, as may be agreed upon, and reimbursable at the pleasure of the state, at any time after the year Eighteen hundred and Eighty nine, and the faith of the state is hereby [inviolably?] pledged for the payment and redemption of the stock, hereby created, and the interest accruing thereon, said Board of Fund Commissioners shall take and use all proper means, and measures for the transferring of said stock
Sec 4. It shall be deemed a good and valid execution of the power to borrow herein conferred, for the said fund Commissioners to cause the said certificates of stock, when created, to be sold; Provided that the said Stock shall not, in any case, be sold for less than its par value.
Sec 5. It shall be the duty of the said board of fund Commissioners to subscribe on behalf of the state the two Millions Eight hundred thousand Dollars of stock, as provided in the first section of this act, to the Bank of Illinois and pay such per centum on every ^one^ hundred Dollars so subscribed, at the time of subscribing, as shall have been paid by each stock holder on each and every share owned by him, and thereafter pay such instalments, as may be due on each one hundred Dollars, at the same times and in the same proportions and under such regulations, as now are or hereafter may be required of and adopted in relation to the Individual stock holders on each share respec[t]ively held by them; Provided nothing herein contained shall authorise a forfeiture of any interest of the state in Said Bank in any wise whatever to the said Bank, Provided ^further^ nothing in this act
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shall be construed, so as to compell, the said fund commissioners to sell and dispose, of the
Sec 6. Said board of fund Commissioners shall, so soon as notified by the Bank of Illinois, of their certificates of stock authorised to be issued by the second and third sections of this act, only as the money may be needed from time to time ^to carry out fully the intention and object of this act^
Sec 6. There shall be established by the said Bank of Illinois Six2 offices of discount and deposite, within the state, in addition to those already authorised to be established, Whenever the interest of the community require it or bank require it for the purpose of discount and deposit, and the transaction of such other business as may be legally Confided to them by said bank, under the provisions of its Charter; and this act; and to commit the management of all the aforesaid offices of discount and deposite, under such regulations as they shall from time to time think prudent to adopt to such number of persons as they shall choose, one of which offices of discount and deposite shall be permanently located at Monmouth, with such amount of capital, as the mother banks can safely supply upon the provisions of this act; and another of said offices shall be established at Carrollton, one at Peoria, one at Chicago, one at Danville, and one at Caldonia,

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Sec. 7. The dividends and profits declared and accruing upon, and from the stock, ^in any manner whatever^ by the provisions of this act, authorized to be subscribed on behalf of the state in said Bank, shall first be applied to the payment of the interest upon the loan or loans, authorized by the provisions of this act, as the same becomes due, and the balance together with the premiums that shall be realized by the sales of certificates of stock herein authorized to be made, shall constitute a fund for, and be applied to, the payment of the interest which may be or become due and owing upon the loans effected under the authority of an act entitled an act to establish and maintain a general system of Internal Improvement, and shall be held inviolably, and applied solely for that purpose and none other
And the saidFund Commissioners shall adopt such measures as may be most expedient and proper for the payment of the interest of the said loans when due, and whatever balance ^20^ of said dividends and profits as may remain from time to time after the payment of the interest as aforesaid, may be deposited by saidFund Commissionersin any Bank or Banks of this state, at such rates of interest as may be agreed upon until the same may be wanted, said banks to facilitate the transaction of the purposes contemplated in this section, opening therefor a seperate account to the credit of such deposites with said board of Fund Commissioners.

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Sec 8. It shall not be lawful for this corporation, under the penalty of the forfeiture of its charter, to issue any bank notes of a less denomination than five Dollars; and the power is hereby reserved to the Legislature Twelve years after the passage of this act, should it be considered advisable to further restrict the Corporation from issuing any bank bills of a less denomination than ten dollars.
Sec 83. Eight hundred thousand Dollars of the amount of Capital hereby increased, shall be set apart as a real Estate fund, and the same shall be loaned on bond and mortgage of unincumbered real Estate, within the state, but no loan on such real Estate, shall be made, in any case for more than one half of the appraised value thereof for a term of time not exceeding five years, and at no higher rate of interest than ten per centum per annum the real estate fund hereby created, shall be loaned and managed by the Bank of Illinois for the interest and benefit of the state and for carrying out the provisions of this act.
Sec 94. The said Bank of Illinois shall pay into the state Treasury annually, on the first day of January, one half per cent, on the amount of capital stock actually paid in, in lieu of all taxes and impositions whatsoever

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Jan 28.
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H. R.
An act to increase the Capital stock of the Bank of Illinois, and to provide means to pay the interest on a loan ^or loans^ authorised by an act entitled “an act to establish and maintain a general system of Internal Improvement,”
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read ^twice^ laid on the table & 150 copies ordered to be printed
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Com Judiciary
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Com Finance.
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lay table
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1On January 4, 1839, the House of Representatives adopted a resolution instructing the Committee on Finance, of which Abraham Lincoln was a member, to investigate the wisdom of increasing the capital stock of the Bank of Illinois. On January 5, the House supplemented that resolution with another resolution calling for the part of the increased capital to be loaned to citizens of the State. In response to these resolutions, Wyatt B. Stapp of the Committee on Finance introduced HB 217 in the House on January 28. The House tabled the bill and ordered printed 150 copies. On February 14, the House took up the bill, referring it to the Committee on the Judiciary. The Committee on the Judiciary reported back the bill on February 18 with an amendment. Representatives offered additional amendments, and the House referred the bill to the Committee on Finance with instructions to place the Bank of Illinois on the same footing as the State Bank of Illinois. The Committee on Finance reported back the bill on February 23 with amendments. The House amended the Committee on Finance’s amendments by striking out the tenth section, which restricted the Bank from issuing notes of less denomination than five dollars, by a vote of 40 yeas to 36 nays, with Lincoln voting yea. The House concurred in the Committee’s amendments as amended. Representatives offered additional amendments, and the House tabled the bill and proposed amendments. On February 28, the House took up the bill, adding a new ninth section. The House adopted an amendment adding in the second to last line the words “as shall and may be paid on the stock herein authorized to be called by the Bank of Illinois, and not in any other instalments, or faster than such stock shall be paid in.” The House also adopted an amendment that added a proviso to the seventh section. The House concurred with the Committee on Finance’s amendments as further amended. The House refused to order the bill as amended engrossed for a third reading by a vote of 36 yeas to 39 nays, with Lincoln voting yea. The House later rescinded this vote by a vote of 39 yeas to 36 nays, with Lincoln voting yea. The House again refused to engross the bill for a third reading, this time by a vote of 38 yeas to 39 nays, with Lincoln voting yea.
Journal of the House of Representatives of the Eleventh General Assembly of the State of Illinois, at Their First Session, Begun and Held in the Town of Vandalia, December 3, 1838 (Vandalia,IL: William Walters, 1838), 295, 401, 426, 486, 547, 553-54, 556-57, 558.
2“Five” changed to “Six”
3“9” changed to “8”
4“10” changed to “9”

Handwritten Document, 6 page(s), Folder 169, HB 217, GA Session 11-1, Illinois State Archives (Springfield, IL)