The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1928-10-25
INCREASE in STATE
debt Is NOW SHOWN
Counties, School Districts and
Townships are in Debt to a
Total of 1898, 039, 502.22
IS INCREASE OVER 1924
Report Authorized by Act of
Last Legislature and Com
piled by Commission

Minnesota's state government
and its subdivisions, counties,
school districts, municipalities and
townships, are in debt total of
338,039,502.22, the state tax
commission reported recently
following the first official survey
ever made in the states history.
This is an increase of seven per
cent in its Indebtedness over an
unofficial report of debts of the
Minnesota public made as of 0c-
tober 1, 1924, by Ray p. Chase,
state auditor, which produced a to-
tai of 1915, 1878, 691. or $22, f60,S18
less. The tax commissions report
was authorized by an act of the
last legislature in order to obtain
reliable data on state finances, are
based on figures as of December
81, 1927. .....ai
The total Indebtedness by gov
ernments as announced by j. G..
Armson, of the commission, COM
pared with the 1924 totals, follow
Gu. =. IT, -!
state government, exclusive OF
highway reimbursement bonds,
1924, $45,719,000 including $780,
900 in rural credit bonds issued up
to that time; 1927, $56,099, 1853,
including $47,OOO,00O in rural
credlt ponIs. Rural credit bonas,
altnough hnally secured BY the
state 90 not constitute a dept
TO pc raised py taNa1ion put the
money Is USED Ior loans with the
state acting as q financing agency
S9untles, lnc.u GU. ngnWay
r rai gonas,, iSEa, SSo'-
oSI,lll; lSz1, ,Ssz,o1l,o5V. 40
aoWnsnlp, ISz4, s.Sa,sfzzo,oSZ;
1874 S,: Sa,oo1 'O % ~. go
= Cisies anu siiiages' ay14s pl19'-
ooa, 10 iszL. 9lla,Soo,4on
ocnoo alssrie Us .i aaa 10000
we; ;, !S1f, 911,oS4,9of.s ;
Whne counties, townships. ana
,nunlcipaIties nave reduced tnelr
I0ad OF lnaeDtedness IA tne last
three years, scnooi alstrlcts nave
maui els greaees - Increase ), = ne il
s.ao' alehous1i oH paper It's
aeDts nave oeen increased, because
" iuiai cIeoits' mas actuaiiy re-
o4ceI Dy ~ per > cent .tts.r aeots
Mnlcn are 70 De pale out OF TAXA
lion, MI. Arnson saia.
@. Uh '1e oasis OF .,stne United
osaees aepart1iefi' OF commerce $,
onlciA estinate ~ OF minnesota s.
populatlon lor 1872 -. uSea.py state
ueparemenes: z,2oo, ooo, tne per
sapi'a oeo' III MINNESOTA Is 9loI.-
20: - !, .
Inc grown IN state lnaepted-,
ness NJ. Afmson sala IN lhe re-
port, re!elIang 20 Inc paper IN
crease OF 9lo,o1o,ooo' is apparent
rat1er shan feal, because II, e en-
I IRE I'D que TO the increase. OF SI1,-
gvo,ooo In rurai crent ponds.
Inese are secured by mortgages
on improved reai estate ana 90 not
constitute d TAX oDilgation, unless
IN event 0. lnsu1llcient genera Sc
curly Oh IorecloSea properly.
Apart from TINS increase the
= =
actual decrease. on october l,
1874, the tax oohgatlon indebted
ness OF the state amounted TO
Sl5,1i9,OO, while December 81,
1877, 1t had dropped to S9,099, 358,
decrease Oh $6,6lS,64l or AZ per
cent IN little over three years. In
addition to this decrease the high
way department has transferred
$S,OOO,OOO to a SINKING fund for
the retirement OF county highway
reimbursement bonds.
School district Indebtedness,
Mr.. Armson continued, increased
S23, 75s,279, or over AZ per cent,
during little more than three
years. Ut is difficult to account
for this large increase IN such
short period. It IS possible that
some part OF the increase IS due TO
an under report OF school lndeDt-
edness IN 1874.
On percentage basis, the state
owes 1916 per cent OF the total,
4 n1s IF rIITQI CREDITS AFRO eliminated