The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1895-01-10

x "ooIu" SoilsolS, series ''B,
Alabama Funding bonds, per i0'Ooo'oo
sehoo! district and County 1o0''s'''o
bonds per cent. ......... 1,O27, 1872
s1o,712, 1890
qs ar haaeNis o. UNIVERSITY ss ESHR
16S4S transferred internal i'm
provement land contracts),,, .Gs
M1nnesota funding bonds, 81
nn ner cent. ..:;..:....... 30O,0oo.O0
Minnesota revenue bonds per '0'0oo'oo
cent .:........... 100000
"A per cent. ................ 100000
Experimental ACKNOWLEDGEMENTS farm s5996 %
$1,O34, 067. 05
The law under which these funds are in
vested in state bonds limits the invest
ment to not exceeding dozen enumerated
STATES sta t and most OF these are not borrowing
slateS, so that 1t Is now very difficult and
IN time will be next to impossible to make
Investments In such stocks. The field of
u IN state bonds il the
tended to all the states of the Union. The
Of interest is derived from school district
ana county bonds In view Of this fact,
ana III view OF the urgent demand for an
enlarged field Of investment, it would seem
to be judicious and good economy to permit
investment to be made, under proper safe
guards, in the bonds Of the several towns
villages and cities Of this state, issued for
general OF. special municinal purposes. 1t
is better for the state and better for the
borrowing municipalities that these funds
be invested among our own people. ac-
cordingly recommend that a proper consti-
ted to the people for ratification at the
next general election, authorizing the in
vestment OF the school and university funds
Of stafe OF s ss
call your attention to the decision Of our
supreme court In the case OF Rogers VS..
Board Of County Commissioners Of lie sueur
County. The decision indicates that addi-
tional legislation Is needed in order that
the power to borrow money on the part of
counties may become Of practical utility.
State Institutions Land Grant.
Under chapter. s Of the General Laws of
1865, a swamp land grant Of 325,OO0 acres
was made to certain charitable, educational
and penal institutions Of the state. Three
hundred thousand acres of these lands
have been derived the following revenue
and income:
Sales of land. .$l8,295.7 70
6Sfgnt " way. ..'.'............. $3.50
Sales OF timber. 1856. IA
Mineral leases. Observation-Disclosures. 17,975.OU
Cash In treasury .S37, 251.7O
Land contracts. ....... ......... l6,940.57
Total. ........... ........... .$54, 1922
In view Of the existence Of this fund, It's
permanent character and it's continued in
crease, more ample provision should be
made for Its permanent Investment than is
now given, to the end that as large a reve
nue. as is compatible with safety may be OBJ
talned from this source.
stnte Finances:
On the Both day sof November, 1894, the
state treasury had to the credit Of the sew
eral funds hereinafter described, the fol-
lowing sums Of money:
Soldiers relief fund. ' ...:::::.. 9,o72.si
Forestry fund. ................ IS, 3336. so
Redemption fund. 5,17S.64
Funding tax fund. ............. 73,lOl.39
Permanent school fund. ....... 117,OO5.56
General school fund. .......... 61,516.S7
Permanent university fund. ... 1857. IS
General university fund. ....... 27,y62.36
Internal improvement fund. .... 3,40S.65
Internal Improvement land fund 2O767.92
Internal improvement land fund
School text book fund. ] 4sS46.S7
Swamp land fund. ............ 695O.G5
State institutions fund. ........ IS, 245.75
Reform school fund. .......... 4,442.22
Grain inspection fund. ......... 22Si2. II
g. Total. .......". 81, 39S, 544.oS
The total amount Of the funded and the
unfunded debt Of the state, less cash In the
sinking and redemption fund, was,
Il the so5 rs t. Day Of August 1894 the sum OF
Minnesota revenue and building bonds. pri-
marily issued to cover n temporary overtr~ft
upon the general revenue fund. These
bonds draw 4 per cent interest and may be
redeemed at any time. In view of this TACT
and OF the large surplus in the general rev.
enue fund, concur in the recommendation
preparation be made out Of the general rev
enue fund. sufficient to. pay these bonds;
and that the law providing for the levy Of
a redemption fund to liquidate these bonds
be repealed. / also concur in the recon-
mendatiOn of Treasurer Bobleter that Sec
ton s of chapter Isl Of the General Laws
Of 1891, providing for the annual levy Of
lieu thereof a direct appropriation be made
out Of the general revenue fund sufficient
to meet the requirements OF the timber
In view Of the large surplus in the general
revenue fund, it Is evident that a consid-
cradle reduction In the levy Of taxes for
accordingly, recommend that such levy do
not exceed the sum Of one and four-tenths
of a mill on the dollar Of taxable property.
State Prison. |.
There are at the state prison cells and
yicts. On the 10th day Of December, 1894
there were 537 convicts In confinement, of
which SO were sent us by the United States
the rate Of 40 cents per day for each man.
The time Of most Of these federal convicts
Will expire within the next two years; and II
we deduct their number from the aggregate
1t leaves only 454 chargeable to the state,
and with only this number there would be
126 vacant and available cells which would
amply meet and cover the probable in
crease In our prison population during the
next two and perhaps three years.
At my suggestion, contained In special
message the legislature Of 1903 applied the
parole law and the so-called reformatory
plan to the state prison. Two years Of eX-
perience and observation have demonstrated
the wisdom OF making the change. 1t re
and It makes prison discipline, less harsh
and rigorous while fully as safe as under
the former system; It affords the convict an
opportunity to ameliorate his condition and
to commute or shorten his time by his own
who Is without friends upon footing OF
equality with those who are better favored
In this respect. And in addition to all this
1t seeks to provide him employment and to
look after his welfare in that most critical
period of his life-the time Immediately sue
ceeding his discharge.
The manufacture Of Irvine at the prison,
while it has entailed no direct loss, has in
directly been Of great benefit to the agri-
cultural interests OF the state. At the time
the enterprise was initiated the price Of
binding Irvine was high and had been I'm
reasonably enhanced by the manipulatlons
Of great Irvine OF cordage trust. The
prison twine has been ~ q good quality,
has given satisfaction to0ae farmers, has