564 



MINNESOTA. 



books, $25,487. The Auditor reports that the 

 outstanding warrants against the revenue fund 

 at the close of the year, together with over- 

 drafts, make a total floating debt amounting to 

 $122,002, and that since the days of depre- 

 ciated State warrants the Treasury has not 

 been in so depleted a condition. This is owjng 

 to the disbursements for seed-grain and other 

 extraordinary purposes, amounting to about 

 $100,000 for the year, and to the non-receipt 

 of the expected income from convict labor, 

 which was estimated at $50,000. From the 

 Auditor's estimates it appears that with care- 

 ful management, and without any extraordi- 

 nary expenditures, the receipts of 1879 may be 

 expected to meet current expenses and pay off 

 the floating debt. This will balance accounts 

 and bring the finances of the State into a sound 

 condition with the beginning of another year, 

 in which event the receipts and disbursements 

 of 1880 will leave a probable surplus of $100,- 

 000. The Treasurer states that in consequence 

 of prompt tax collections he was enabled to 

 redeem in August $30,000 of the temporary 

 seed-grain loan, which had been negotiated in 

 March preceding, leaving but $20,000 as inter- 

 est-bearing warrants outstanding at the close 

 of the year. 



At the November election the people defeat- 

 ed, by a vote of 45,669 to 26,311, the proposi- 

 tion submitted by the Legislature of 1878 to 

 settle the old railroad-bond debt by exchang- 

 ing for the bonds the 500,000 acres of internal 

 improvement lands, "at a rate and proportion 

 which shall make the whole of said lands equal 

 to the whole of said bonds and coupons." The 

 act provided that "the Land Commissioner, 

 with the advice and approval of the Governor, 

 shall adopt such rules and regulations for 

 exchanging the lands for the said bonds and 

 claims as shall as nearly as practicable secure 

 to the holder of each bond and claim an equal 

 chance for choice of lands for each bond and 

 claim deposited for such exchange, on or before 

 said first Monday in July, 1879. All bonds 

 presented for exchange after said date shall 

 have choice of land in the order presented. 

 Deeds of conveyance of said land so exchanged 

 shall be made in the manner now provided by 

 law, in case of the sale of said lands." It was 

 further enacted that the lands so exchanged 

 should be free from taxation for seven years 

 after July 1, 1879, unless previously sold or 

 used and cultivated by the grantees of the 

 State or their legal representatives. The act 

 provided for the appointment by the Governor 

 of a commission of three persons to examine 

 all claims for work done or supplies furnished 

 in the grading of the land-grant lines by the 

 contractors employed by the companies under 

 the five-million loan act ; and for such claims 

 as are valid the commission was empowered to 

 issue certificates receivable on the same basis 

 as the bonds. This vote of the people, in the 

 opinion of Governor Pillsbury, "indicates that 

 they are not prepared to make settlement of this 



Number of acres of land assessed .............. 



Value of land, including structures ............. 



Average value per acre ...... ................... 



Value of town and city lots, including structures. 

 Value af taxable personal property ............ 



Total value, real and personal .................. 



Average rate of taxation, in mills ............... 



Total taxes assessed ........................... 



Taxes for State government and institutions ____ 



For support of State University ................ 



Indebtedness of 1873 and prior years ........... 



Seed-grain loan of 1877 ........................ 



Seed-grain loan of 1878 ........................ 



General school tax ............................. 



Special school tax ............................. 



pe 



County revenue taxes 

 County interest taxes 

 County poor tax 

 Other special county taxes 

 Township taxes 

 City taxes 

 Eoad taxes 

 Other special town and city taxes 



vexed question. My convictions as heretofore 

 expressed upon this subject have undergone no 

 change, and I earnestly hope that in the near 

 future the people of our State will take a dif- 

 ferent view of the matter." 



The assessed value of property in 1878, and 

 the taxes assessed, are shown in the following 

 exhibit : 



1P,714,848 

 $129,107.208 

 7.724 

 54.508,475 

 46,175,804 

 29,791,042 

 16-4 



$3,895,138 

 551,328 

 23,057 

 21 ,897 

 44,241 

 76,887 

 229.216 

 842,610 

 725,269 

 108,189 

 93,771 

 75.824 

 2C6,118 

 583,998 

 205,154 

 108,148 



The average rate of taxation, exclusive of spe- 

 cial taxes for seed-grain, is 16'4 mills. There 

 are 1,403,583 acres more land assessed than in 

 1877, at 3|- cents less average price per acre, 

 and a total increase of valuation of $10,338,041. 

 There is a decrease in the taxable value of 

 town and city lots of $2,506,282. 



Total increase of taxable real property .......... $7,831,759 



Total increase of taxable personal property ...... 1,088,045 



Total increase of taxable property ......... $8,665,404 



The Legislature was in session from January 

 8th to March 8th. Of the 420 acts passed, less 

 than 100 were general laws. One of the most 

 important measures passed was the tax law, 

 which is a codification of the preexisting acts 

 on the subject. During the process of codifica- 

 tion a few changes were made, relating chiefly 

 to penalties. A penalty of 10 per cent, will be 

 added to all taxes on real estate remaining un- 

 paid on June 1st. Tax sales are to be made 

 on the third Monday in September, and no in- 

 terest will be charged between those dates. In- 

 terest during the two years of redemption will 

 be at the rate of 18 per cent, per annum, 

 instead of 24 per cent, as formerly. If the 



Sroperty is not sold at the regular sale, nor 

 uring the two years following, it will become 

 the absolute property of the State; but the 

 parties holding an interest in the land may 

 redeem it at any time, while in possession of 

 the State, by paying the interest and expenses. 

 After the redemption shall have expired the 

 State may dispose of the property at public or 

 private sale, and the buyer shall acquire an 

 absolute title. All property is to be assessed 

 on May 1st. A penalty of 5 per cent, is added 

 to all unpaid taxes on personal property on 

 March 1st of each year, and the county treas- 

 urers are required to take the most prompt 

 action for their collection by sale, if necessary. 



