River, at Astoria; and for the Willamette, at Portland. The commercial importance of the water route is second only to that of the Mississippi. The commerce upon the Columbia and Willamette rivers has assumed great magnitude, due to the regular lines of steamers connecting with railways and canals around the falls. Smaller boats and rafting contribute largely to swell its volume.
Previous to 1868, the exports were mainly to the Sandwich Islands, Puget Sound, and San Francisco, and gold dust and ores formed three-fourths of the shipments. Since then the exports have reached almost every part of the globe, and consist largely of wheat and timber products. The foreign commerce of the State from 1890 to 1900 fluctuated between $5,000,000 and $15,000,000, about three-fourths being exports. The largest export countries were Great Britain, China, and Japan. The British East Indies and Japan supplied most of the imports. The State has a large interstate trade by rail and water, and a considerable portion of its products is distributed through San Francisco.
Banks. The Constitution of 1857 forbade any banks of issue, and also the incorporation of any banks by the Legislature. A private banking business was established in Portland in 1859. The First National Bank of Portland opened in 1865, being the oldest national bank west of the Rocky Mountains. The banking business remains unregulated. Since there is no banking law banks, incorporated or private, are formed under the general corporation law, which limits the liability of the stockholders. Due to this condition, the national banks, being the more secure institutions, have preference over the State banks in popular confidence. The aggregate banking interests remained very insignificant until 1885, when there were only four State and nine national banks. Then came a sudden growth, and in 1894 there were more than forty banks. After the depression of 1893-95 the number somewhat declined. The condition of the banks in 1902 is shown in the following table:
| National banks |
State banks |
Private banks | |
| Number of banks | 30 | 18 | 5 |
| Capital | $2,420,000 | $956,000 | $50,000 |
| Surplus | 520,000 | 142,000 | 18,000 |
| Cash, etc. | 2,586,000 | 334,000 | 21,000 |
| Deposits | 16,692,000 | 5,093,000 | 356,000 |
| Loans | 9,386,000 | 3,084,000 | 227,000 |
Government. The Constitution under which Oregon entered Statehood still continues in force. It was adopted by a vote of the people of the Territory in November, 1857. To amend it the amendment must pass two successive Legislatures and be approved by popular vote. While amendments agreed to by one Legislature are awaiting final decision, no other amendment can be proposed.
The Constitution authorizes any male citizen of the United States, twenty-one years old, and six months a resident of the State, to be a voter, and any like foreigner who shall declare his intention to become a citizen one year before an election and shall have been a resident of the State for six months. Oregon sends two members to the National House of Representatives.
Legislative. The Legislature consists of a Senate of not exceeding 30 members, elected for a term of four years, and a House of Representatives of not exceeding 60 members, elected for two years. The apportionment is by counties or groupings of contiguous counties, and is made every fifth year, a State census being taken every year ending in 5. General elections are held biennially on the first Monday of June of even years, and the Legislature convenes on the second Monday of the following September. The members of either House receive, besides mileage, $3 a day, but are limited to a $120 allowance for any session. Extra sessions are limited to 20 days' duration. Bills may originate in either House, except revenue bills, which must originate in the House of Representatives. In 1902 an initiative and referendum clause was added. By this, 8 per cent. of the voters may demand the submission of a law to the vote of the people, and 5 per cent. may demand that any law passed by the Legislature shall be submitted for popular approval.
Executive. The Governor's term of office is four years, and he is not eligible to this office more than eight years in any period of twelve. He has the right of veto, but his veto may be overridden by a two-thirds vote of each House. The people elect a Secretary of State (who is Auditor and Comptroller), and a State Treasurer, the term of office of each being four years. The former succeeds to the Governorship in case it becomes vacant. A State printer and a superintendent of public instruction are elected every four years.
Judicial. There is a Supreme Court of five judges, which number may be increased to seven. They have appellate jurisdiction, and are elected for six years. There are five circuit courts, presided over by one of the judges of the Supreme Court, having civil and criminal jurisdiction, and appellate jurisdiction from the county courts. There are county courts with one judge, elected for four years, who is also judge of probate. The Circuit Court judges are elected one-third every two years. There are also a United States District Court, and for Oregon, California, and Nevada, a United States Circuit Court. One or more justices of the peace are elected in every township or mining district, and municipal courts may be created. Judges of the Supreme Court can be removed by the Governor upon the joint resolution of two-thirds of the Legislature. The grand jury consists of seven men chosen by lot, five of whom must concur to find an indictment. Grand juries may be modified or abolished by the Legislature.
Local Government. Each county elects a clerk and a sheriff, who serve for two years. Attorneys are elected by districts composed of one or more counties. The Legislative Assembly may provide for the election of two commissioners to sit with the county judge when transacting county business in any or all the counties, or may provide a separate board for transacting such business. Other local officers may be provided for by law. Special laws may be enacted for municipal purposes.
Other Provisions.—The registration of voters is not required. New ballot laws, based on the Australian system, were adopted in 1891. The legal rate of interest is 8 per cent.; allowed by contract, 10 per cent. Women may practice law in Oregon, and a wife has sole control of property
