On the question of banking corporations, which was of great mo ment at that time in all the northern states, the constitution provided that no state bank should thereafter be created nor the State own or be liable for any stock in any corporation or joint stock association for banking purposes, to be thereafter created. No act of the Gen eral Assembly authorizing a corporation with banking powers was to go into effect, unless approved by the people at the general election next succeeding the passage of the same.