The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1911-01-06

the state Corrected more than four times as
much. or -$14,So0,000 form all sources.
distributed as follows: s3.250,oo0, gen.
eral taxes; s5.s4o.0oo. special taxes, such as
s2,5o0,000. earnings of departments and in
stitutions; and $S,410,0o0. receipts from
in return for the s3,250,006 contributed by
general taxpayers. the state government re-
600 additional from other sources. In dis
bursting these collections. the state govern
SIS counties S. 200. 600 for education S. 4oo. 900
Tor institutions of correction and charity,
while the three main divisions of state gov
require for support only about S1,20e. 900.
or less than 10 uer cent of the aggregate
The total assessed valuation of Minnesota,
as equallized by the tax commission for 1910,
is $1,222, 100000, an increase of $3.50, 900,
approximately $4,000 600 is personal an in
crease of nearly $17,000,0o0 over 1909. Real
an increase of s113,SO0 900. Increases in real
values over 1908 were $4,000, 900 on mineral
properties, s44.sOo,O0o on city property, and
only $24,40O,O00 on acre property.
Iron ore valuation for 1910 is s2z4, 66s, 900,
an increase of s20,10o,Ooo over 1909 and $44,-
100000 over 1908. In 1906, before the or gan
ization of the tax commission, iron ore valua-
lions were 64,400, 900. In four years taxable
iron ore valuations have been increased by
the tax commission over $3.50, 600, 900. or ESQ
per cent. Omitting reference to the much
larger revenues which iron mines turn into
local, county, city, village, township ana
school district treasures. than into the state
treasury, the latter alone now receives from
the steel company and other iron interests
as the states share of the 1910 tax, over
s61S,000, as against s1S0,000 in 1905, an
increase of $43S. 900, or 24O per cent in four
years. Farmers and other land owners OF
Minnesota may be interested in the fact, that
of the total assessed valuation amounting to
1893 100000 on lands exclusive of city and
village lots, $224,600, 600, or not quite 40 pei
cent, represents mineral land values. All
things considered Minnesota under present
laws and administration appears to be making
good in the direction of scientific and just
taxation
Your honorable body will receive from the
tax commission an exhaustive report on state
taxation, one of the ablest and most compre-
hensive ever submitted on that subject and
contains a number of excellent recommends
tions
Telephone taxes for the two years ending
July 81, 1910, were s2S4,O00. compared with
S195, 900 for the two years ending July 81
1908, an increase of $4,000, or As per cent
Examination by tho public examiners depart
recovered s22.S54 of net revenue Under the
authority of the 1909 gross earnings act the
Joint administration of ne tax commission
and public examiners department, relative
to telephone accounts and taxes, resulted in
adding to the tax list for the year ending
July 81, 1910. as compared with 1909. a tota
of 1877 new companies s1.O47.6SO of additiona
gross earnings. and $31,360 of increased taxes
Further legislation is now desired givine
statutory form to the executive rules anC
decisions constituting and applying the gros:
earnings act. especially with reference to co.
and telephone accounting, in order that al
classes of companies may be dealt with
justly and in accord with their respective
State Finances.
At no time in the history of the state We're
the finances in better condition. Tht
dollars than it was year ago. l fully agree
with the state auditor and the investment
Of state eapto
fcates. This will reduce the interest-bear
ing debt Of the state and pace this amount II
the school fund where it can be loaned te
counties and municipalities for public i'm
provements. large number of loans ap
pending for lack of funds, and since it IL
unquestionably poor buriness policy to sci
bonds owned by the state on depressed
mend that the Legislature Immediately auth
orize the retiring of capitol certificates IL
ahs sns oan
can be granted to that extent.
Railroad and Warehouse Commission.
The important service rendered the state
by our railroad and warehouse commission
is becoming more and more recognized, and
there is no one today who seriously question:
the effective work of this commission. One
of its most important acts in the past ha:
been the valuation of state railroad propertie:
tute fair rate, and the commission is now
investigating express companies for the same
purpose.
In the Minnesota rate cases. the master Il
chancery seriously questions the authority o.
the commission to make general investiga
ton and determination of what shall oonsti
ute reasonable rate. If there is, in fact
any doubt as to the authority given to th'
commission by the statute. It should at onc'
be remedied by appropriate legislation.
The speedy development of our rural com
munities and the building of suburban cleo
trio lines opens up another field of regulation
These electric lines will soon become activ,
factors in the transport alton business. ant
their operation should, therefore, be subjec
to the railroad and warehouse commission
similarly with the railroads Again, unit
Minnesota secures the services of public
utilities commission the the control Of tele
placed under this commission, for it is i'm
portant that these essential factors in stat'
development, upon which the public at larg'
is at all times dependent, should be under th'
control of the state.
Department of Public Examiner
AS check upon ire gularities in account
ing and illegal expenditures, the Legislature
of Minnesota many years ago created thu
department of public examiner, to who's
scrutiny the great volume of financial opera
tions by the state are subjected. The public
examiner is also required by law to cheel
and verify the statements of all corporation
paying gross earnings taxes, which implie
the examination of about $50. 900 900 of cor
poration earnings annually. He also exercis
ship, and village accounts upon request o
the county board. The law creating the de
other states are following Minnesota's ex
ample. From financial standpoint, thi
department. has been an exceptionally goo'
state treasury enormous sums of money, blu
even though it could not discover one mistake
in a years transactions, it's existence as al
accounting office is fully warranted
State Banking Department.
The last session Of the legislature, in com
pliance with the general request of the bank
banking department by taking the super
vision of these institutions from the depart
under a Superintendent of banks. The new
department began business August 1, 1908
and has been in operation one year and fv
months. The result from every point Of view
justifies the wisdom of the legislature and o
the bankers association in creating the new
department, which has at all times had NOR
than sufficient work to occupy the attention
of the entire official force. An EXCEPTIONAL,
gratifying showing, both to the growth
of banking enterprise under the new regime
is made by the records of this department
During the year ending, Nov. 10. 1910, ther
$40, 900, 900 in deposits and of s22, 900, 90
in total bank resources. a gain of % pc
in Minnesota 6s6 state banks with deposit
aggregating $10S, 000, 900, and total resource
in the sum of $126.c4o,0o0. which is NOR
than three times the number of banks ant
volume of deposits and resources represented
by the state banking system in 1900.
years certainly bespeaks progress Including
national banks there has been eight-fol,
increase in rs years until today there ar
go banks in the state, with deposits aggre
eating $40, 000, 900.
The federal comptroller of the currency i
by law authorized to exercise his discretion
in issuing a charter to bank where tn
amount of local business does not justify it
organization, and in cases where the applica
ton is prompted by local spite jealousy
In this state there is demand for simila
authority on the part of the superintendent o
banks with reference TO applications TO
state charters. Such restrictive power, thel
properly to appreciations for state charters
Such restrictive power, then properly exer
cised, is of value in safeguarding the inter
ests of depositors, but the exercise of sucl
discretion may in many instances work
hardship, 1 would suggest that the grant o
power be carefully safeguarded.
Department of Insurance.
Our insurance laws, which were enacte
largely in the 1907 session of the Legislature
and which have been 50 ably and rigidly ad