This tax was imposed by act of March, 1865, and at once caused a commotion in our state. In July, 1864, the number of Wisconsin state banks was sixty-six, with capital $3,147,000, circulation $2,461,728, deposits $5,483,205, and these figures were probably not very different in the spring of 1865. The securities for the circulating notes were in great part the bonds of our own state, which, while known by our own people to be good be3'ond question, had never been on the general markets of the country so as to be currently known there ; and it was feared that in the hurried retirement of our circulation these bonds would be sacrificed, the currency depreciated, and great loss brought upon our banks and people.