Page:The Wisconsin idea (IA cu31924032449252).pdf/111

 is annually levied and collected for the normal school fund income, $1/6$ of one mill for each dollar of assessed valuation of taxable, general property of the state as fixed by the tax commission.

The state has a strong banking code developed with great care. It gives general satisfaction, provides for the utmost publicity and care in its control and in line with all Wisconsin legislation, it recognizes banking as a business affected by a public interest. It does not permit private banking which has proved so pernicious in other states. All banks must be public under this act. The result has been that not a citizen of the state has lost a dollar through the state banks since it was enacted into law.