The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1908-08-22

this work. the commission has ascer-
tanned the value of the roads oper-
ating in this state to exceed $225,OOO,-
100000, by which there will be added
to the tax rolls of the different coun-
ties more than 100000, 100000 worth
of railroad property heretofore escap-
ing taxation.
Governor Mead discovered that
there was no law in this state provid-
ing for either using or utilizing the
funds realized from the sale of grant
ed lands held in trust by the state for
the various charitable, penal, re-
formatory and educational institutions,
from which neglect hundreds of thous-
ands of dollars we're lying idle in the
banks of the state, producing no rev.
enue whatever. The state board of
finance was created and Immediately
invested over $3O0,000.00 heretofore
idle, and the funds now so invested
are producing a revenue to the state
of approximately $25,0OO.0O annually.
The board of finance, under the law
creating it and providing for interest
on daily balances, is bringing into the
state treasury more than $15,000.00
per annum, and is bringing into the
different counties and cities from the
banks throughout the state more than
$200,000.00 annually.
At the time of Governor Mead's ad-
vent into office this state had been
making giant growth, especially in
population, and he found every penal,
charitable and educational institution
overcrowded and lacking in equipment
and facilities. He met the condition
manfully and fearlessly. He recon-
mended appropriations necessary and
adequate to meet the demands made
upon the state by reason of it's mar
velous growth. Heavy appropriations
were made to enlarge and equip our
university, state college and normal
schools; to provide additional build
ings, grounds and facilities for hous-
ing our convicts and incorrigibles, and
to provide proper care for our wards
in the asylums and schools for blind
and the defective youth, so that today
the state has the proud distinction of
being in proper position to offer ed
ucational advantages second to no
state in the Union; to treat its insane
and other wards in a humane manner
housing them in modern, fire-prO-
tected buildings; and proper provision
likewise has been made for providing
a home for honorably discharged SOL
diers, sailors and marines and their
wives.
Notwithstanding the drains made
upon the state treasury to meet these
ness has been decreased $50 100000 and
the statement of the state treasurer on
the first of July, 1908, showed an &C.
tual cash gain of $341,32S.04 over the
same period in the previous admins
tration.
GOVERNOR MEAD HAS NOT HEsI-
TATED TO ASSUME THE RE-
sPoNsIBILlTIEs OF HIS OFFICE.
Early in Governor Mead's admins
tration a controversy arose with ref
erence to the class of securities in
which the permanent and irreducible
funds of the state could be invested.
The city of Port Townsend had voted
water bonds in the sum of $3.50, 900 90
and applied to the state board to in
vest the irreducible funds in the pur-
chase of these bonds. The state board
accepted the water bonds as a proper
investment. Governor Mead disagreed
with the Interpretation placed upon
the law by the board. On his own
motion he consulted outside counsel,
appealed to the patriotism of the at
torneys so consulted, solicited their
cooperation and procured their SER
vices without expense to the state.
An action was instituted and carried
to the supreme court of the state,
where his contention was upheld, and
the supreme court has forever set at
rest the kind of securities in which
the permanent school fund can be in
vested-namely, such security as has
back of it the entire property of the
municipality, county, state and school
district, and not dependent on the
financial success of the enterprise.
The iast session of the legislature by
unanimous vote rendered to the at
torneys so employed by Governor
Mead the thanks of the state for the
services rendered in having this school
fund sacredly and religiously protect
ed for the benefit of the children of
the state, insuring, as it now does, a
fund incapable of being reduced and
guaranteeing forever and ever the as
surance of liberal education for
every child in the state of Washing
ton.
fhe exercise of this courage and de-
votion to the interests of the people
places the state under lasting obi
cation to Governor Mead, as under the
Interpretation Of the state board the
sufficiency of the securities was left