The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1908-09-30
MINNESOTA IS
GETTING RICH
Convincing Figures Show that Her
Wealth per Capita Has Al
most Doubled.
Authentic Statistics Gathered From
Assessment Rolls by Gazette
Correspondent.

The remarkable increase in the
population of Minnesota since the
state was admitted to the Union,
May 18th, 1858, has been mentioned
in many articles, but the fact that
the wealth of the state has increased
more than double per capita hardly
seems possible to one who has not
taken the trouble to investigate the
facts.
The rapid development. of the
natural resources Of the state has
resulted in a wonderful increase in
it's tangible wealth, but there are
still thousands of acres of rich agri-
cultural lands unoccupied and un-
improved, and the amount of water
power undeveloped and vast mineral
resources still unexplored can not be
even estimated, so the possibilities
for the increase in population and
wealth of Minnesota during the next
fifty years of the states existence
can hardly be imagined Uncertainty
not estimated with any degree of
accuracy.
| The returns Of the county auditors
of valuations for purposes of taxa
ton, from the eighty-five counties
in the state, as equalized by the
county boards of equalization. makes
interesting reading and compari-
son of the values of 1908 with the
assessed valuation in 1858 is more
interesting. The total assessed value
of all property in 1858 was Sal, 846,
IT'S. In 1859 and 1860 the returns
showed a decrease, the assessed
value Of all property in 1860 being
only $36, 743, 400. The census of 1860
shows that the population was then
172, 023, making the per capita as
sessed valuation $213.59. If at that
time the assessment was made on a
! basis of so per cent of the true value,
and it certainly was not made for
more than that amount, the true
per capita wealth of the state was
then S427 .18. Taking the United
States census Of 1900 and figuring {
proportionate increase, the popula
ton of the state is now approximate.
ly 100000.
The assessed value of all property
: for 1908, as returned by the county
auditors. ISL. O93, $50, 465, a per cap
!, tia assessed valuation of S497 10
! Recent Investigations have shown
; that the ratio of the assessed vaIu,
, to the true value of the real proper
: ty for the whole state is little owe
4 40 per cent. Using this ratio WI
have a true per capita valuation o
g S1,242.75, which is S815.57 highe
:, than it was in 1860, an increase o.
: 290 per cent in the per capita wealth
for period of 48 years.
Taking the total assessed valuation
as given above and the ratio of a
: per cent we have real and persona
;s property total true valuation o
f So, 734, 076, 142 and it must be re
q membered that this amount doe
not include the value of railroad
% telegraph and telephone companies
= which are not subject to assessment
= but pay gross earnings tax, no
= does it include the value of publ
r and private property exempt by la,
&c from taxation.
There have been over 10000, 90
N acres of land added to the asses.
N ment rolls since the first year W
have any record of the acreage sui
&c ject to taxation, which was in 1885,
There were $685., 844 acres with a
r. assessed value of $3.50 per acre
! 1865. The reports for this year sho
st the number Of acres now assessed
It be 41,212,687 with an average a
e sessed value of SAILS, an increa'
Of Lac. 1O2 acres over 1906. whe