The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1885-01-15

/ S1o 3seso 10 Oo0P!oeoos. 0Vo,A4o Scx01 OF
per acre Estimated upon this basis. the
common school fund will ultimately realize
| over Sis, OOO. 900 from tkis sourca This
will probably BIO increased to $50, OOO, 900
BY sale Of swamp lands tnuring to this fund
nent university grant has 93, O91 acres yet to
be disposed of, which will 1Weu tho accumu-
lattons Of its fund to fully $1,000, 900, and
ultimately constitute IN endowment for our
state university that will assure. its future
ment land fund has 274.S33 acres of it's
grant yet unsold Its final accumulations
should be nearly S., DOC. OOO This may
properly be denominated sinking fund for
the redemption Of the state railroad adjust
ment bonds, - It has been provided by con-
stttutional amendment that all tho revenues
OF thus fund shall be applied to. the payment
OF the principal and interest OF those bonds
STATE DEBT
The present Indebtedness Of tho state isEep-
resented BY tho following issue Of bonds:
Railroad adjustment bonds, issue Of
1881, due in twenty and redeema-
bic In ton years, ~ per cont: "a. 203;000
Hs.sn%s bonds at tb Issue ns.. Of 1852
state. IL per cent. INSTRUMENTATION. 10000
These revenue bonds viii be- redes%ed
within the next three years. provision hav-
ing been made therefor. The TRUST funds of
the state hold So, 523, 900 of the adjustment
bonds, $322, 600 Of which are in the internal
improvement or @sinking fund" These latter
might properly be cancelled. and the indebt-
edness of the state reduced by that amount
There ia also nearly 81 900, 900 Of land con-
tracts in the sinking fund, which will be in
creased from time to time by further sales of
land Whenever it is deemed advisable;
these contracts might be transferred to the
permanent school fund, and adjustment
bonds to an equal amount held by that fund
redeemed and Cancelled It may not be de-
sirable' to do this at the present time, but
would recommend that authority be granted
the board of Investment to cancel tho
fund" and any further bonds of like char
acter it may acquire in the future. As OPP
pOrtunlty has been presented to purchase
our state bonds the board Of investment have
converted other securities and invested in
them; the advantage of these transactions
being net gain to the trust funds of $lO5,-
600. The auditor makes some practical sug-
gestiOns relative to the future investment Of
the trust funds of the state. which merit
your attention. The state has expended
over half million dollars within the last
four years in replacing structures destroyed
by fire. Comparatively little insurance was
upon the buildings destroyed, and even that
was placed without direct authority there
for, by the board of management suffering
the loss, the premiums being paid from their
perience and as a simple business PROPOSE
ton, submit that the policy heretofore pre-
vailing OF refusing appropriations to pay
premiums should be reconsidered and the
boards in charge of the several state institu-
tlons be authorized to procure reasonable
indemnity against fire on such buildings as
are exposed to danger from that source The
structures recently erected are practically
hreproof and will not need to be insured
EDUCATION.
Tha ronorf IF tho cuporiptor6ov>< ~ ,~,l1in
instruction presents an exhaustive review of
the educational interests OF the state: their
development during the past two years, the
improvements noted, and the defects still
existing In our system Of popular education
Due attention to the criticisms and sugges-
tions Of the superintendent will discover
wherein that system may be much improved
ana Its advantages more generally realized
by the people OF the state. There is no ques-
ton of state policy that interests or affects
means adopted for the development Of popuo
lar intelligence. With it's admirable plan Of
organization and it's munificent endowment.
supplemented by large tribute Of annual
taxes, our common school system should be
made model of it's kind Assuming that it
IL your desire to contribute your efforts to
secure that end. I commend the recon-
mendatiOns of the superintendent to your
favorable consideration. The enrolment in
our public school the past year was 223, 200,
an increase OF lO,0OO since the last bien-
NAL report Three hundred and ninety-two
new school buildings have been erected at
. cost of 81 ,O85,17 There has been raised
for educational support during the past two
years sd, sos, 931.7O. The permanent fund
for the support of common schools has been
increased in the sum of $3.50, 3O6 Is, max
ing it's present aggregate Sc, 255, 632. 49,
The estimate of 500, 900 as the prob
able amount OF this fund when its grants of
lands are disposed of, seems likely to be re-
allied A personal inspection of the three
normal schools the past season has confirmed
my Judgment previously expressed Of the |
valuable work these institutions are accom- |
pllshing: Their organization and admins |
tration are in high state of efficiency, and |
in results accomplished Us we'll as prospeo-
lively promised, justify the liberal provision |
made for their maintenance The normal |
board report the following enrolment tor |
the past year:
At Winona. Observation-Disclosures. SOB
AZ ManKato ................ SOP