The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-09-07
GOV. lind ACCEPTS D|jAI NOMINATION

glorious country of ours, is better an
chored than to be contingent on the po-
litical defeat or elevation of. any indi-
Vidual. Providence has endowed me
with good enough sense to know. that it
is not because of my election that the
finances of the state and its credit are
in their present condition. But that
same sense also teaches me, and 1 be-
lieve that it will convince the good peo-
pie of this state, that just fair, .econo-
mic and. businesslil<e management of
of commonwealth.
The last legislature provided for the
issuance of short time certificates of in
debtedneSS in anticipation of the tax
levy for the erection of our new capitol
In order TO secure these certificates for
the school fund, | insisted on the rate
of interest being fixed at 2 per cent
hoping thereby to escape foreign COM
petition But the credit of our state was
such that, Notwithstanding the short
time Of this paper, Notwithstanding it's
low rate OF interest, New York brokers
bid a premium of $i35 on the issue, and
this at time when the consols of inn
perialistic England drawing the same
rate of interest and heretofore recognize
ed as the best security in the world,
were selling at a discount in excess of
2 per cent
THE LARGE SURPLUS.
Tie only difficulty with our finances
at the present time is the large surplus
in the treasury. AT the end of the fiscal
year, Aug. L, the STATE treasurer has In
his vault and on deposit in the various
banks 81, ,331.52. This sum is largely in
excess of the amount actually needed
Tor the requirements of the state. And
L cannot help but express my regret that
the last legislature did not cut down the
tax levy, as 1 advised in my MESSAGE
Notwithstanding the fact that they re-
fused the legislation for the increase of
the states revenue as l recommended.
The next legislature, even though it e.
mains obduFate on the question OF pro-
V1dlng more revenue for the state from
the sources that / have Indicated will
be able to reduce the tax levy by one
third If the appropriations are kept down
to the real wants and necessities of the
state. economically administered.
During my adminStra ton not a cent
Of the states fund has been lost or mis-
appropriated, SO far as am advised or
have been able to ascertain. l mention
this fact, not for the purpose of claim
ing any personal credit. For the excel
lent management of our state funds Mr.
Koerner. the retiring tree surer, is in a
large measure entitled to the credit, and
| accord 1t to him cheerfully. This state
has never had a more prudent, pains
taking or conscientious servant. L am
equally certain that if the gentlsman
whom you have this day nominated TO
succeed him is elected, the same may be
truly said of him two years hence as
say it of the outgoing treasurer today.
FROM INSURANCE DEPARTMENT.
A goodly portion of the surplus in the
treasury has been contributed by the
most efficient work of the commissioner
of insurance. Instead of the S174.OGO in
taxes collected by the Insurance DEPART
ment in 1898. ,000 was collected last
year. These figures were in large
measure due to examinations made nv
the department of companies writing in
land marine insurance and transa citing
business with nonresident brokers and
operating through pools. AS q result Of
these examinations $1,000 has been col
lected in back taxes on premiums not
reported in former years; in one instance
as far back as 1881. In addition to this
that department has rendered the p2ople
of the state most excellent service in
Weading out the numerous fake and
speculative insurance companies that
were preylng upon the credulity of the
people and robbing them right and left
under various schemes of hail, fire and
life insurance.
Ell F1CENT DAIRY DEPARTMENT.
The dairy department has rendered most
efficient service in executing the laws
now on the statute books against the
adulteration of food articles and in pros
ecuting the Illicit sale of oleomargarine
imitation butter and manufactured lard
by the enforcement of the laws in that
behalf. Of the administration of tie
dairy and food department I feel justi-
red In saying that never before in the
history of the state Were the dairv and
farming inter estS SO efficiently defended
and aided as in the last two years
DEPARTMENT OF EDUCATION
The general progress of the state has