The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1910-10-14
LAND 0EE|GE
BUSINESS

Olympia, Oct. SIN tho tu
ending September 80, 1910 tho .s..,
cash collections of the State ~, '
Office aggregated s3,s32,s4o, as ,o,,
pared with s2,742,95a for the Drevion,
two years. and considerably moro ~.
double the s1,6Ss,7s4 collected the ~,
years ending September 80, 1905
OF these collections approxim,t.,,
a million and a half was avail.h,, :.
immediate use by the state and s,..
departments and the fact that Il w.,
on hand in cash for such use saved u.
taxpayers being called upon to r,i.s
that much money to meet the eynpnsss
+ the state government.
Nearly million dollars of this NM,
ey was clean. velvet" for it ren,a
sented profit without touching n.
principal.
Under laws which can never ha
changed, because such change voun
require action by the Congress Of the
United States and amendment to the
state constitution, the principal derived
from the sale of state lands must re.
main permanent and can never be
pent. The permanent funds, however,
can be and are invested by the state
in Understanding securities and the
interest thus received can be used for
current state expenses.
Investments Are Lucrative.
These investments are now bringing
in several hundred thousand dollars a
year, and of course that revenue re.
duces direct tax just that amount
The two years financial report just
completed by the State Land Office
shows that from the common school
grant lands and timber were sold tl
which the state received about s2,l70'
600 in cash, which went into the per-
manent school fund for investment
From rentals of state school lands and
from interest payments on contracts Of
sale nearly $4,000 was collected IN
cash and turned into the treasury to De
disbursed Immediately among the seV'
eral counties for support OF the COIL
mon schools.
Other collections representing REM
ais and lease money in the line OF 'Vef
vet" included about $4,000 from 'ns
grant for charitable, educational penn
and reformatory institutions, ss.'a@ NV
from the scientific school grant, sl0'Vw
from the agricultural college siaus
s28. 900 from the normal school grant,
$500 for the capitol building funo Au'
$1,575 from escheated lands.
Tide Land Fund Available.
From lease and interest money cor
lected on tide lands and narDo' . a.
about $4,000 was derived ana ul l.vI
fees and forfeitures the Office col 1..',r
s23, 800, all of which was lmmeuia svnd
available for use by the genera ,u .Oa
Of the state, as was also the s1I ,aDd,
paid on account of sales OF ',u0 aa;oe
on the principal. The tide lana m u.a not
like the capitol grant MONIES =. on imrps.
permanent, but are available W.
date use. :. ,oarly
These cash collections o. 900 in
four million dollars by the QUIZ y, .ny
the two years do not represent Nv - office,
means the entire business o. NV ~, sum
for the reason that the PRINCIPE 1 .dlec-
included in the permanent luu snts only
lions in most instances repieo. II one.
the first payment on contrao' tS N bulk
tenth Of the purchase price, a. a. II 1llyesr
of state lands are sold under =, lv min.
contracts, where one-tenth 0, ,s .uu IN
cipal is paid in cash and INC D'
annual instalments.