The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1932-07-15
FINANCIAL
STATE STATUS
The Department of Commerce
Gives Statistics on Mime
sofa Finances.

The Bureau of the Census at Wash
ington, announces a summary of the
financial statistics of the State of
Minnesota for the fiscal year ending
June 80, 1881. The per capita figures
for 1881 are based on an estimated
population of 2.573,O00. These Stats
tics were compiled by Mr.. M. j. Des-
mond.
Expenditures.
The payments for the operation and
maintenance of the general depart
ments of Minnesota amounted to $685.
755, $50, or $15.06 per capita. This in
cludes $10,441 ,037, appointments for
education to the minor civil divisions
of the state. In 1880 the per capita
for operation and maintenance of
general departments was $14.52 and in
1917, $815. The interest on debt in
1881 amounted to $4,183,329 and out
lays for permanent improvements, $2O,-
989,252. The total payments, therefore,
for operation and maintenance of
general departments, interest, and out
lays were $63, 928,134 OF this amount
$76,648 represents payments by a State
department or enterprise to another on
account of services. The totals include
all payments for the year, whether
made from current revenues or from
the proceeds of bond issues.
Of the governmental costs reported
above, $23,574,994 was for highways,
S4,414,25l being for maintenance and
$l9,l6O,743 for construction.
Revenues.
The total revenue receipts were $685.
662 ,908, or $25.52 per capita. This was
S22, 724,0 26 more than the total pay
ments of the year, exclusive of the
payments for permanent improvements,
and 81, 734,774 more than the total pay
ments including those for permanent
improvements. This excess of revenue
receipts is reflected in purchase of in
vestments and increased cash balances,
not shown in this summary. OF the
total revenue receipts $76,648 repre-
sents receipts from state department
or enterprise on account of services
Property and special taxes represented
1872 per cent of the total revenue for
1881, 1876 per cent for 1880, and 354
per cent for 1917. The increase in the
amount of property and special taxes
collected was SOL pc recent from 1917
to 1881 and 1872 per cent from 1890
to 1881. The pre- capita of property
and special taxes collected was $3.50
in 1881, SALT in 1880, and 1886 in 1917.
Earnings of general departments, or
compensation for services rendered by
State officials, represented go per cent
of the total revenue for 1881, SO per
cent for 1880, and 2O9 per cent for
1917.
Business and nonbusiness licenses
constituted 1917 per cent of the total
revenue for 1881, 53.7 per cent for 1890,
and 30.6 per cent for 1917.
Receipts from business licenses con-
sist chiefly of taxes exacted from in
Surance and other incorporated COM
panies, occupation and royalty tax on
iron ore, and of sales tax on gasoline
while those from nonbusiness licenses
comprise chiefly taxes on motor We
hicles and amounts paid for hunting
and fishing privileges. The sales tax
on gasoline amounted to $7,328,457 in
1881 and $6,750,331 in 1880, an in
crease of 8.6 per cent.
Indebtedness.
The total funded or fixed debt out
standing June 80, 1881 was ST., Isl, 759.
OF this amount 100000 was for high
ways.
The net Indebtedness FUNDED or
fixed debt less sinking fund assets was
$14, 221 200, or $3.50 per capita. In 1890
the per capita net debt was s1.57 and
in 1917, $0.61. The increased per cap
tia net debt for 1881 was principally
due to bonds issued for highways. The
debt reported for Minnesota includes
that incurred for rural credits, but does
not include the county reimbursement
road bonds. These bonds were issued
by the counties of the State for road
construction, but the State is obligated
to pay both principal and interest of
the bonds. The interest paid on these
bonds in 1881 amounted to 81, 439, 436.
The debt on account of rural credits
is practically offset by the assets of
the sinking fund of the Rural Credits
Bureau. The gross Understanding
debt of Minnesota was ST. ,251, 759.
Assessed Valuations and Tax Levies.
The assessed valuation of property
in minnesota S1lhject IN al vqlorem