The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1900-09-28

Mfiaca, Mimi, Sept 22-State Audi
tor Dunn fired the opening gun Of the
campaign at a largely attended Repub-
hcan rally here last night, other speak
ers being Hon. s. r. Van SAINT, Repub-
ncan candidate for governor, and his
son, Grant.
Mr.. Dunn said:
Since the day OF its birth the destinies
OF the State OF Minnesota have been
controlled by the Republican party,
with the exception OF one or two brief
but memorable periods, when certain
departments OF the state government
fell into the hands Of the PhiIistines.
But for these temporary alterations,
the history OF Minnesota has been one
Of steady progress and increasing pros
perity and growth until she stands to-
day, the foremost OF the grand galaxy
of young Western states which m years
to come win form the heart of the Re
public.
So interviewer during the past forty
years has been the history of our state
and that of the Republican party in
Minnesota, that the history of one is
the history OF the other. Their stories
cannot be separated or read apart
We are all proud Of our state, proud
OF ITS growth, proud OF its strength and
greatness, proud OF its reputation No
Minesotian can be ashamed OF his
state, for its escutcheon is unstained
and 1T has nobly done its part in and
for the Union.
Our citizens have ever been first to
offer their services and arms for the de-
Tense OF the flag and the nation, and
have acquitted themselves with honor
on many a bloody battlefield. In the
paths of peace they have played a
manly part, and the people of Mfnneso-
Ia to-day, whether they regard our in
situations or our laws, can do with
pride and satisfaction.
And yet we are told by political OPP
ponents that the Republican party is a
party OF corruption and dishonor. We
have been told that if the Democrats
and Pepulists could only secure control
OF the state government they would
work wonderful reforms and rescue the
commonwealth from the straits into
which they allege IT has fallen.
Wen, during the past forty years cur
political opponents have had three OPP
portunTties to show what they could do
I'm the way OF reforming things. In 1857
and 1858 there was Democratic gov.
ernor and legislature. The particular
reform engendered at that tfme-the
formative period of our state, when 1t
was first emerging from its territorial
swaddIing clothes into the freedom and
responsibilities of statehood-was the
loading upon the new state of bonded
debt OF $2,z75:O00.
This first period OF Democratic re-
form sadd7ed the State Of Minnesota
with a public debt OF which there II
81 ,2os,0 zoe outstanding to-day on which
the taxpayers pay interest, and VIII
probably continue to do 50 for the next
ten or twelve years.
In 1851 bonds for $4,zS7, 900, represent
ing half OF the original Indebtedness to-
gether with the accrued interest on the
same, bearing IL per cent interest,
were issued by the state in full salts
faction OF the claims arising out OF the
Minnesota State Railroad Bonds.
In 1891, the then governor, Hon
VIM. r. Merriam. formulated plan
for the funding OF this state debt
which, thanks to his financial ability
and sagacity, resulted In saving to
the state of many thousands Of dol
lars. Under the provisions OF Chapter
81 Of the General Laws Of 1891, the
governor. treasurer and auditor were
appointed a commission to refund the
debt. which was successfully accom-
unished. and in place of the 4 IL per
cent adjustment bonds, the commission
issued new funding bonds bearing LIZ
per cent interest.
The 1891 law provides that $4,000 or
these Funding Bonds can be cancelled
IN every year, and this has been done.
with the result that the amount Of the
Funding Bonds now outstanding is
81 EOS, 900. and this is the present condi-
ton Of our only state debt, created In
1858 by our first Democratic state gov
eminent.