Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1902-03-13
STATES FINANCES

STATES FINANCES
NEVER SINCE STATEHOOD HAVE.
THE FINANCIAL AFFAIRS OF
NORTH DAKOTA BEEN IN SUCH
SATISFACTORY CONDITION AS
NOW.
Bismarck correspondence Of Mime
apolis Tribune: Not since statehood
has the state been on so solid a finan-
cial basis as at the present time. Here
tofore the first problem which con-
fronted the legislature was ways and
means to raise money to pay the mile
age, per diem and ether expenses Of
the session. This has been accom-
plished by authorizing the governor.
stae, auditor and treasurer to sell fund
ing warrants, OF in other words. issue
and sell state warrants where there
was no funds in the treasury to meet
them, the usual agreement with the
purchaser being that the warrants
WoiC " OO pdiu WIIuiA LWOs ySd1S. VI
as soon as possible. They draw 6
per cent interest, and the stale
sometimes been compelled to sell them
| at a discount.
When the present administration
came into office it fell heir to legacy
of $4,000 OF these funding warrants
| 20
general fund was concerned. and over
S15G,000 of unpaid bills on file in the
auditors Office. There were no funds
to meet the expenses of the legislative
session, so the first act of the legisla-
ture was to authorize the issuance of
funding warrants to the amount of
Sl3o0O0, which supplied money for
legislative use and left balance for
| use in the general fund.
Governor White and the other mem
bers of the administration. realizing
the necessity for the strictest economy
and watchfulness if the state was to
| be lifted out of it's financial predica-
ment, gave the problem their closest
attention, the goveronor, in particular.
as the head of the administration. has
devoted himself to the lifting of this
debt and freeing the state from the
heavy load of interest arising from the
sale of these funding warrants, the in.
terest and discount on which have ir
some years amounted to as high az
$4,000. Everywhere possible ex.
penses at the capitol have been cu1
off or curtailed and the end desired has
been accomplished
| Il feel pretty good over the fact
that we now have on hand the monev
to pay off the $23O,0OO of funding war
rants outstanding. together with the
interest, said Governor White this
morning. "For time" it looked as
though it would require more than two
years to pay them off, but the first of
April will see them cleaned UP and the
interest drain stopped The state will
then. for the first time in many years,
| - A1oS AoA lAV l11SI C1me1 III lLS MS
tory, be free from floating debt, and
our bills will be paid on sight. There
will be close to 100000 in the general
fund when the next legislature meets.
which will be ample for all expenses.
and | hope the state will never again
be compelled to resort to funding war
rants as means of raising money. as
it is not only expensive. but hurts
our credit. am exceedingly gratifed
over our financial condition. in view
OF the depressing aspect of this time
last year"
In this conclusion it is but fair to
Governor White to state, without fear
OF contradiction, that he is the onlv
governor the state has ever had, bar
ring none, who has made the manage
ment of the states finances his per-
sonal business, and he is naturally verv
much gratified over the splendid show
ing which can be made.