The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1908-01-30
S~IO0,OOO,OOO FUND
FOR THE SCHOOLS
or SOUTH DAKOTA
This Huge Sum VIII Create AN
nual Income OF So, 900, 900
--Largest in Country.

Toronto. S. D., Jan. $50. c. Dok-
ken, OF this place, commissioner Of
school and public lands for South Da-
kota, predicts that South Dakota win
eventually have a school fund Of $780,
600 600, largest in the United States.
This permanent fund would create an
annual income of $4,000, 900. suficient
to support a modern public school sys-
tenn for 100000 inhabitants.
This remarkable showing for South
Dakota's school fund was made possi-
BILE by the unusual foresight of w. II.
III. Beadle, long president OF the state
normal at Madison, who recently cele-
brated his 10th birthday.
6eadIe's Foresight.
In the constitutional convention Of
1883, Mr.. Beadle fought for and OBJ
tanned a constitutional provision that
n school lands granted to South Da-
kota by the federal government, should
not be sold for less than $40 an acre.
AT that time many of the school lands
would have gone begging at SO a Sec
ton n the real estate dealers and
promoters were anxious to have a low
price fixed for the school lands, to at
tract settlers.
The constitutional limit served to
keep most of the. lands from being sold,
however, until the state was well set
tied. And now 1t has been determined
TO adopt q policy that will produce a
fund four times as large as was con
tempiated by the constitution.
Millions Of Acres.
1.-THE state of South Dakota" said
Commissioner Dokken., now has g.
100000 acres OF school lands, for the
common schools, and 100000 acres of
endowment lands, for the state insti-
buttons. In other words, we have over
5000, 900 acres, and IL we can sell all
this at an average of $35, as we have
determined to do, 1t will give us when
h lands are all sold, 20 or 80 or 40
years from now, a permanent fund of
over 800, 000, 600.
"Our present law requires that this
FUND be invested in farm loans or
municipal or county bonds, at s per
cent interest. So we win have eventu-
ally $5,000,000 to distribute annually
among the schools OF the state.
Last year the amount turned over
to the schools, ap~portioned to the pop
ulatlon of each school district, was
$44S,000, or $3.15 per capita. Next year
1t will pass the half million mark.
Sell $4,000 Acres Yearly. .
I'VE now have a law requiring my
Office to offer for sale each year $4,000
acres of school lands and 12,0 900 acres
of endowment lands. This doesn't mean
that we must sell $4,000 acres a year.
simply that w must offer it for sale.
A commission composed of the gov
ernor. auditor and myself, Ak the
prices to be paid for these lands, and
in this way we can insure their dis
posal at prices that would eventually
give us the hundred million dollars.
For example, this year, when the sales
begin In April, we will ask from S35 to
$40 an acre, rs a minimum, and il
these figures are not bid, the land will
not be sold. .
A Sane Policy.
In Wisconsin, the school lands were
practically thrown away. 1t was
thought better policy to dispose of h
lands al very low prices, in order to
attract settlers, who would later con-
tribute largely to the support of the
schools by direct taxation. So, much
of h Wisconsin land was sold at as
low as go cents an acre and the state
has lost its chance to create a great
permanent school fund. In Minnesota
the school lands were disposed of nm
der a similar policy, So 4 rather ex-
pect that South Dakota win In the end
have more cash to show for the school
lands given by the government than
any other state" ~