Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1913-11-26
HUGE FUND For
MINNESOTA.
MINNESOTA WILL RECEIVE
$20O,O0O,OOO FROM EXISTING #
MINERAL CONTRACTS

''Whtshin the next forty years the
state of Minenlsdta will have realiz-
ed more Ithan S2o0,o0O,000 for tits
permanent TRUST fund, from miner
al contracts alre'ady exisbing," said
Static Auditor Samuel G. Iverson at
Duluth.
Mir. Iversun came to- Duluth
nhrusday to- attend the uast of the
mOnthly sailes of state school lands.
''Thiat means," continued Mr.. "
erson, "that 1.-THE sitate will receive
THAT much in royaNties from mining
leases 'already made. The average
tlme these leases have to- nun lis
about Hhirty-sIix years, SO say THAT
ait the end of forty YEARS we Will
have Realized $20O,000,0O0. THAT does
mott dnclude the revenue we will de-
rive from the le4ases yet to be made,
and the state has waist areas of min
eu'al lands yet UNEMPLOYED. The, Gu
yuma range will be "a big facIbor, and
then THERE is the great uneNplored
and undeveluped mining territory
in Lake and Cook counties. The
state reserves ALL the mineral rights
to state lands, and lin the years to
come these uIldeMeaoped fields will
h1,InoCr
Disposition of Money.
"Out of this $2O0,0OO,00O about
Sl30,000,00 will go to the permanent
school fund; about S2O,OOOO0O ito the
permanent university fund; and the
balance 10 the swamp land fund,
the income of One-h'alf of which is
used for schools and from the Other
half for THE support of state imsti-
tutiOns.
Last year the sHate's mines ship
ped aboult 100000 toms of ore. This
year they will ship about 100000
toms and NEXT year should see a fur
th'er increase.
when tine Constitution of Min
nesota WAS adopted two courses
were open, and [hoISly debated. One
plan waIs to use the stale lands to
exploit THE state and get rid of them
as cheaply and quickly as possible.
The other was to conserve them as
a source of pertrnan emit revenue. The
decision reached was tifuaH the first
aim should be to- secure a penna-
nent. revenue from them, and the
secondary aim should be to exploit
them. 1 don't believe the wisdom
of the course has ever been ques-
TONED. As an illustration of what
it has dome for Minnesota I might
state THAT we will gdt more revenue
from 'bhree forties of swamp land
than the States off Wisconsin and
Michigan got from all off their Iand.
These three fou:ties are the ScI'an-
ton mime, which should RETURN to
ulIt >SUcluG SlU,UUU,UUU.
1.-The state school lands THAT we
are SELLING are bringing a steadily
iulcr ea!sing price. Last year we solid
about 10000 acres at an average of
S7.55. The state HAS about 10000
acres i'm st. Louis county appraised
AMID ready for sale, and lis NOW ap-
praismg about 1000 acres more, so
that NEXT spring we will have $1,000
acres for sale, LESS what we sell to-
day. These lands are accessible,
for THE state has mott made it a poli-
cy to appraise and offer for sale
land THAT is Situated in a remote
district. There still lis a Darge area
of unappThised land i'm this coun-
ty.
1.-The monthly sales will be con-
tinued next year, THE first being
held ON the tfnird Wednesday in
March.
Il cannot talk pO|DItlcs. / ann still
holding my job as state auditor and
I must ATTEND ITO my work. 1t will be
thine enough to open the campaign
some months from now. Of course,
publicity is what we are looking for
III