The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1929-08-30
NEW SERVICE OFFERED
BY STATE OF MONTANA


in trust, gifts, donations, grant
and legacies for educational, scien
tiffc, benevolent and charitable
work, administer the same per
petually and apply the net earn
ings as directed by the giver
Provision is also made for adding
the net earnings or part of the
net earnings to the original gift
until it has reached a certain
amount, if the giver directs.
What is your hobby-your keen.
est interest in life? Is it the
honor and respect of your family
and the family name? Is it the
school that your children attend?
Is it the government of your city,
the improvement of its streets and
the identifying of it's parks? Or
is it good roads? Is it your
church, your hospital or other vel
fare work? Is it politics, science,
art or athletics? Whatever it may
be along these lines, the State of
Montana has a well-worked-out
plan now in operation for aiding
you in carrying on the work in
which you are especially interest
ed. not only during your lifetime
but through decades and probably
centuries to come.
Suppose that you want to offer
an annual prize to the student
making the best showing in a Ger
tain subject in your high school,
or a prize for the best wheat or
other exhibit at the Montana State
Fair; or suppose you want a foun-
tain in your town to flow with
sparkling water during the next
century, or you want to establish
or maintain a park for all it's peo-
pie; or suppose you want to make
annual Christmas gifts to the poor
or aid in maintaining a hospital,
or advance any other benevolent
or charitable work of enduring
usefulness in the wide field of hui
man life. In order to do any of
these things for a long time to
come, you would have to set aside
a permanent fund and provide that
that income thereof should be
used to carry on the work or ac-
tivity.
The State Will Accept and Admin
ister the Fund Perpetually
Article XXI of the State Con-
stitution and Chapter 70 of the
1929 Session Laws provide among
other things that the state will &C
cept gifts, donations, grants and
legacies in any amount of value
of not less than $4,000 each for
the benefit of scientific, education
al, benevolent and charitable
work; hold the Zane in trust, in
vest them safely in good securities
and apply the net earnings as
directed by the giver, subject of
course to certain limitations.
SAFE and Enduring Machinery
Provided for the Admins
tration of the Funds
Let it not be thOughtlessly as
sumed that it would be an easy
matter for the private citizen of
means to provide machin-
cry of his own suitable for the
safe and perpetual administration
of his gift. For the very wealthy
man it is possible to build up an
organization that will endure for
some time; but for the person of
moderate means this would be
next to impossible. The admins
tration Of funds that are to endure
for a long time is prominently
a function of government; the
state alone possesses that dur
alton of life and ~permanency of
organization which is absolutely
necessary.
Our Constitution and statutes
now provide that the State Board
Of Land Commissioners shall have
charge of the investment and adj
ministration of all such funds en-
trusted to the state; in other
words the governor, superintend-
net of public instruction, secretary
OF state and attorney general.
This board already has under it's
administration permanent u S
and investments exceeding S15,-
900, 000.0 0 belonging to the schools
and educational institutions of the
state. The experience and organi-
cation that this board has develop
ed in the administration of these
enormous funds should make 1t
exceptionally we'll qualified to
additional trust funds.
The record of this board for max
ing safe investments is most excel
lent; outside of some excessive
loans made a few years ago,
there is no record Of a single loss
sustained in all it's investments.
Supreme Court Justices a Super
Visory Board
Our constitution and statutes
provide for additional safeguards
in the investment administration
Of these miscellaneous trust funds
contributed by individual citizens.
While the State Board of Land
Commissioners has direct charge
Of the administration of the funds,
Lhir ndnninietratinn ie enhiact to