The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1913-08-06
An Eastern Paper Tells the Story
Of Minnesota's School Fund

Philadelphia Public Ledger: Mime
sofa, with the possible exception of
Texas, has the largest permanent
school and university fund of any state
IN the union. 1t has been the fixed pol
ICY or the state since its constitution
was adopted to hold the school and
university LANDS, coded to 1t in early
days by the national government. I'M
TIL they would bring a reasonable price
and to preserve In permanent trust
FUNDS the entire income from those
lands. using the earnings of those
FUNDS for the support of its. education
81 institutions. ....,. .-.-".
Total of $2oo.ooo.ooo -.
Consequently on June /, 1918, Min
nesota had SIS, 765, 451, drawing inter-
est in its permanent school, university
and other trust funds. Minnesota still
owns school and other lands, the sale
or which, with the iron ore and Ium-
Der thereon, State Aud. S. G.. Iverson
estimates, will ultimately bring the'to-
tai Of these funds to $500, 900, 900. The
funds increased $2,771,936 during the
biennial period ended July 81, 1912. =:
Minnesota has received $685. 1875
acres of school lands, of which S38,952
acres were unsold at the date of the
auditors last report, July 81, 1912. The
university lands total 108, S02 acres, of
which 19,303 are unsold. The internal
Improvement" lands given the state
aggregate 1925 acres, Of which 5,504
remain unsold. The federal govern
ment also granted 5,885,675 acres of
swamp land, of which 4,701,32 has
been patented to the state while the
balance is mostly in dispute. '
Appraisal and Auction Sales.
The state constitution provides that
school and university lands must be
sold at public auction. Later statutes
provide for appraisal of lands offered
each year, and provide that the lands
must not be sold for less than the ap-
praised value, which cannot be less
than SIS per acre. Similar provision is
made for internal improvement land
grants. Much of the states swamp
land was given to. encourage railroad
building in early days, but this was
stopped. by constitutional amendment
in 1882. Proceeds from the permanent
school fund go into the general school
fund, divided each year among school
districts in proportion to the number
of children attending more than sixty
days. The permanent university fund
proceeds go into the general university
fund, for current expenses. The pro-
CeeuS OF the internal Iunu
go to the road and bridge fund. The
proceeds of the swamp land fund go
half to the general school fund and
half TO the state revenue fund to sup
port state charitable institutions.
Holds Many Securities.
At first the states trust funds could
be invested only in state bonds, which
necessitated the states buying largely
of the bonds Of other states. This was
amended a few years ago so the state
could buy Minnesota country, school,
city and village bonds, and for several
years the demand for loans from the
state has not only taken all the money
coming into the permanent funds, but
there has been a strong but success
full agitation for the sale of the bonds
of other states held by Minnesota.
on July 81, 1912, the Accommodations
in the permanent school fund were
$22, 614,2 1874, of which $13,4S9,251 was
from sales of land, $6,403,463 from
sales OF timber, s1.S67. $50 from royal
ties on iron ore, $295,600 from other
mineral permits and leases and the
balance from for~feitures. profits on