Be it enacted by the people of the state of Illinois represented by the General assembly,

That the Fund Commissioner be & he is hereby authorized to compound for & adjust any unsettled demands which the state has against any person or persons, body politic or corporate in the state of New York or else where who may have been the purchaser or purchasers of state Bonds, upon such terms & conditions as he may deem equitable & Just & for the best interest of the state, subject nevertheless to be ratified & confirmed or rejected by the Govenor.