The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1908-01-31
SI0o,o0o,000 FUND
FOR THE SCHOOLS
OF SOUTH DAKOTA
This Huge Sum Will Create An.
nua' Income OF So, 100000
Largest in Country.

Toronto. S. d., Jan. $50. G. Dok-
ken. Of this place. commissioner OF
school and public lands for South Da-
kota, predicts that South Dakota will
eventually have a school fund of $780,
100000. largest in the United States.
annual income of s5,o00.ooo. sufficient
to support a modern public school Sys-
tenn for 100000 Inhabitants.
This remarkable showing for South
Dakotas school fund was made possi-
BILE by the unusual foresight of w. ii.
II. Beadle, long president OF the state
normal at Madison, who recently cele-
brated his 10th birthday.
seadie's Foresight.
In the constitutional convention OF
1889. Mr.. Beadle fought for and OBJ
tanned constitutional provision that
the school lands granted to South Da-
Sota 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 $40 sec
ton and the real estate callers and
promoters were anxious to have n 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 we'll set
tied. And now it has been determined
to adopt a policy that will produce n
fund four times as large as was con-
templated by the constitution.
Millions of Acres.
"The state of South Dakota" said
Commissioner Dokken, "now has g.
common schools, and 100000 acres Of
endowment lands. for the state insti-
tutions. In other words, we have over
100000 acres, and If we can sell all
this at an average of $35 as we have
determined to do, it will give US when
the lands are all sold, 20 or 80 or 40
years from now, permanent fund Of
over $100.0O0,O00.
Our present law requires that this
fund be invested i'll farm loans or
municipal or county bonds, at S per
cent interest. So we will have eventu-
ally s5,Ooo,eoo 20 distribute annually
among the schools of the state.
Last year the amount turned over
to the schools. apportioned to the pop
ulatlon of each school district. was
| s44S,00o, or $3.15 per capita. Next year
1t will pass the half million mark.
Sell $4,000 Acres Yearly.
We now have a law requiring my
office to offer for sale each year $4,000
acres of school lands and 10000 acres
that we must sell $4,000 acres a year
simply that we must offer it for sale.
A commission composed of the gov
ernor, auditor and myself, fix 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, as minimum. and If
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 the
lands at 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 the Wisconsin land was sold at as
low as so cents an acre and the state
has lost it's chance to create great
permanent school fund. In Minnesota
the school lands We're disposed of un-
der a similar policy. So I rather ex-
pect that South Dakota will in the end
have more cash to show for the school
lands given by the government than
nf hay, fot0