The sun. [volume] (Morris, Stevens County, Minn.) 1882-1895, 1884-12-11

heVeuue 1uuOS over urd1IS .* iuL.4oJ VI
. Appended is comprehensive summary OF
the status of funds and the suggestions as to
assessments, etc, made by the state auditor.
COMMENTS ON TEE FINANCES.
The revenue fund from which the general
expenses of the state are paid Is overdrawn
S1O2, 439. o. There has been no balance
over liabilities in this fund for several years
Over $500, 600 has peen expended in replac-
ing structures destroyed by fire, absorbing
all estimated receipts from taxes, and in adj
dition $3.50, 900 received from revenue loan
of 1883. The estimates for the year ending
July 81, 1855, show q deficit of $37 900.
It will be necessary to make some provision
for the overdraft during the year ending
July 81, 1886. The proper method will be
to consolidate the state institutions fund
with the revenue fund The former fund is
derived from taxes paid by railroads. II the
consolidation Is made the state Will soon be
in q condition to take up all out
standing text book warrants, amounting
to about $3.50, 1858 The present rate
Of one mill state tax will probably be
sufficient to meet anticipated expenses. The
annual charge upon the state Institutions
fund has been permanently increased by the
provision requiring an amount su1nclent TO
pay the interest on the railroad adjustment
bonds to be set apart annually. This re-
quires about 100000 per annum. The
estimated receipts for three years show a
surplus sufficient to warrant transfer to
the revenue fund of q sum sufficient to meet
the annual overdraft on that fund. The
auditor favors the consolidation of the two
funds There are orders outstanding against
the text book, fund of 500, 7S5. 81. The
statutes Appropriate $5O, 900 for revolving
fund, which is intended to be- self
supporting, through payments by coun-
ties This is not the case; as some
counties are tardy in making pay
ment, and owing to unusual pressure on the
revenue fund the state has not been In con-
dition to fully comply with the require
ments of the law. The law should be
amended making payments due the state
compulsory on the part OF counties ordering
books II the funds are consolidated as
suggested, these difficulties will be largely
obviated. The 1871 ,507. O6 received from
the internal Improvement fund IN 1857 mas
all been expended in: payment OF approprla-
tions for bridges. The amount due for SS3
has not been received. Reports of bridges
constructed in 1888 have been received suf-
ficient to exhaust all or nearly all due. APP
preparations for bridges were made by the
last legislature tor two years. Many bridges
were built in 1883, but money not being
amounts due These difficulties may be
avoided in the future by dividing the bridge
appropriatiOns making part payable in 1885
and the remainder in 1887.
THE SCHOOL MONEYS
The permanent school fund has now an
accumulation of So. 255, 632. 3S. The sales
Of school lands for 1853 and spring sales OF
1884 amounted to III ,5S4 acres, at the
average price Of $5. 80 per acre The entire
sales for all years amount to 0OS, 145 acres,
ct an average Of &c. per acre. The
original grant embraced one-eighteenth part
Of the state, or about 3, DOC, 900 acres TO
this win be added one-half the proceeds OF
swamp lands which may become the state q
property after grants have been filled The
ultimate accumulation of this fund is likely
to reach $1S. OOU. 900 or $40, 600 900. The
payments of principal, excepting that re-
uuired at sales, on oil classes OF lands, from
Dec. i, 1882, to July 81, 1884, was $432,-
407. SO, and 800 patents were issued The
auditor recommends the repeal Of the law
providing for double interest on land pur-
chases not paid on june ! and the pro-
vision for abatement Of the penalty,
and would have the, law amended by
making the interest IL Per cent on interest
not paid June !. This will most effect
ually protect the state and be more Salts
factory to all concerned The permanent
university fund now represents an accumu-
lation OF 1892, 766. 80. The entire grants
subject to sales for this fund amount to 1859,
353 acres, with &c, 600 acres yet to be ap-
proved to the state. This fund viii event
nally amount to about 81 DOC, 600 The
statute provides no method for giving q
railway right Of way over university lands
| This should be provided Tor, and the law
inside retroactive. The internal improve
ment land fund now amounts to 81 800.
/ 6O671, and 224, S49 acres have been sole
| st an average d 80 80 per acre, leaving
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