BANKING. Iowa is remarkable in that it has a larger number of banks and banking houses than has any other State in the Union. In 1902 it had 230 national banks, with loans amounting to fii74,032,000; cash, etc., $5,533,000; capital, $15,485,000; and deposits, $66,585.000. The 508 State banks had in the same year a capital of $18,131,400, and a surplus of $2,312,001. The private banks numbered 607 and had a capital of $12,612.339 and a surplus of $1,754.489.
FiNANCe. According to the Constitution, the credit of the State cannot be loaned to any in dividual. assoeiation, or corporation, nor can the State become responsible for the debts or liabili ties of any of these. Unless for war purposes. the State cannot incur an indebtedness greater than $•50,000. No county or other political or municipal corporation can incur an indebtedilCss exceeding 5 per cent. of the value of its taxable properly. 1 n 1900 the State indebtedness amounted to only $10,936. For the year ending June. 1900, the receipts amounted to :i2,592.490;
the disbursements to $2.056,027. Property is assessed at its full value, one-fourth of which constitutes its taxable value.
GoVERNMENT, lowa has its second Constitu tion, the present one being adopted in a conven tion, and in turn by a general election in 1857. Each tenth year the question "Shall there be a convention to revise the Constitution and amend the same 1" is voted upon at a general election. and if a majority of the qualified electors ap prove the proposition. a convention must be called by the General Assembly. A proposed amendment must receive a majority vote of the members elected to each of the two (louses at two consecutively chosen Legislatures and then be approved by a majority of the State electors at a popular election. Male citizens who have re sided in the State six months, and in the county sixty days, and who are accounted of sane mind and have not been convicted of any infamous crime, are allowed to vote.