MINNESOTA. 



469 



snum\s amounting to $35,817,493.92. A sum- 

 mary 'f 11? State banks on July 12, 1892, showed 

 ins amounting to $41,86o,107. , 



There are 70 national banks in the State, with 

 iv-niiiv.^ amounting, on July 12, 1892, to $67,- 

 l!i 1.071.72. There are 13 savings associations, 

 7 of thorn operating under the law of 1867, and 

 ( under the law of 1889. The total amount of 

 resources and liabilities in December, 1889, was 

 .'.:>:!:!.:>!). This had increased to $9,409,- 

 -,'::!). IS in December, 1891. 



There are 9 loan and trust companies doing 

 business under the laws relating to annuity, 

 safe deposit, and trust companies. The re- 

 sources and liabilities increased from $4,295,- 

 2(H.:!l on July 31, 1890, to $7,456,743,82 on July 

 ai. 1892. 



Taxes. The tax receipts from all sources for 

 the two years ending July 31, 1892, exclusive of 

 balances, aggregate $31,119,314.99. The amount 

 collected yearly in the Forestry fund tax is 

 about $58,000. The amount to be paid in any 

 one year for bounties given to encourage timber 

 culture is limited to $20,000. 



Insurance. Ten joint-stock fire insurance 

 companies were admitted during the year end- 

 ing Feb. 29, 1892, their total capital being 

 $8,600,000. The fire losses incurred by all com- 

 panies authorized to do business in the State 

 amounted to $2,933,587.94 in 1891, an increase 

 in losses over the previous year of $1.163,408.46, 

 while the premium receipts were only increased 

 $249,351.60. Owing to this increase in the ratio 

 of losses to premiums received, many companies 

 ret ired from the State, and a large number rein- 

 sured their risks and retired from business per- 

 manently. 



Corporations. During the year, 562 new 

 corporations were created under the laws of the 

 State, of which 120 were for religious, charita- 

 ble, and social purposes, 442 for business and 

 profit. The recording and other official fees paid 

 into the State treasury by this department were 

 $1,349.80. Within three years the number of 

 new corporations formed has increased thus : In 

 1890, 415 ; in 1891, 491 ; in 1892, 562. 



Political. A Democratic State convention 

 met at St. Paul in April. In the resolutions 

 passed the party "once more dedicated its first 

 and best energies to the accomplishment of a 

 single end the complete but the intelligent 

 and gradual reform of a system of tariff duties 

 which is both corrupting and unjust." Protec- 

 tion, which " creates burdens affecting different 

 classes and sections of our country dispropor- 

 tionately and inequably," was condemned as 

 " st imulating monopolies, sapping the strength of 

 industrial energies, and " polluting the springs 

 of political action." It demanded the repeal of 

 the Sherman Silver-coinage act. and renewed 

 its pledge of loyalty to ex-President Cleveland. 



At a Democratic State convention in August 

 the following ticket was chosen : 



For Governor, D. W. Lawler; Lieutenant- 

 Governor, Harry Hawkins; Secretary of State, 

 Peter Nelson; State Treasurer, Joseph Leicht; 

 Attorney-General, J. C. Nethaway : Justices of 

 the Supreme Court, William Mitchell, Daniel 

 Buck. Thomas Canty. 



A Republican State Convention for selecting 

 delegates to the national convention and for 



nominating presidential electors met at St. Paul 

 on May 5. In the same city another Kepublican 

 convention met in August for the nomination 

 of State officers. In the platform, allegiance to 

 the principles of the Republican party as set 

 forth in the platform of the Republican National 

 Convention was declared, and the -wise, pure, 

 firm, and intensely American administration of 

 President Harrison " was approved. 



From its very infancy, and for upward of a third of 

 a century, our State has been managed and guided by 

 men ana principles of the Republican party. During 

 that perioa the State has grown from a mere outpost 

 of scattered settlements to a commonwealth of l,f>00,000 

 souls, prosperous and aggressive, and equal in moral, 

 intellectual, and commercial vigor to the best of the 

 older States. Such a people, so prosperous and so 

 growing, have not been badly governed. Our State 

 administrations have been clean, able, and always 

 loyal to the best interests of the people. 



The necessity of securing a free ballot and a 

 fair count was urged ; trusts and combinations 

 to control and unduly enhance the price of com- 

 modities were vigorously condemned, and legis- 

 lation against the evil was demanded. In this 

 connection reference was made " with pride to 

 the establishment and maintenance at the State 

 Prison at Stillwaterof the manufacture of bind- 

 ing twine, which has been the means of protect- 

 ing and defending our farmers against one of 

 the great trusts and monopolies." 



In regard to the protection of the working- 

 man the following four suggestions were made : 

 The enactment of suitable laws for the protec- 

 tion of health, life, and limb of all employees of 

 transportation and mining companies; the es- 

 tablishment of boards or tribunals of concilia- 

 tion and arbitration for the peaceful settlement 

 of all disputes between capital and labor touch- 

 ing wages, hours of labor, and such questions as 

 pertain to the safety and physical and moral 

 well-being of the laborer; the exclusion from 

 our shores, by suitable laws and regulations, of 

 all paupers, criminals, contract labor, and other 

 dangerous classes ; the preservation of the pub- 

 lic domain for actual and bona fide settlers under 

 the homestead law. 



For the farmers of the State such laws were 

 favored as would give them cheap, safe, and 

 easily obtainable elevator and warehouse facili- 

 ties, and proper transportation facilities to all 

 accessible markets. Anti-option legislation by 

 Congress was urged. 



The protection of the forest as far as consist- 

 ent with the general interests of the State was 

 recommended. The following ticket was chosen : 

 For Governor, Knute Nelson ; Lieutenant-Gov- 

 ernor. David M. Clough ; Secretary of State, 

 Fred P. Brown ; State Treasurer, Joseph Boble- 

 ter: Attorney-General, II. W. Childs ; Associate 

 Justices of th'e Supreme Court, D. A. Dickenson, 

 William Mitchell, C. E. Vanderburgh. 



The People's party, at its convention in July, 

 nominated the following ticket : For Governor, 

 Ignat ius Donnelly ; Lieutenant-Governor. Kittel 

 Halvorsen; Secretary of State, H. B. Martin; 

 State Treasurer, P. M. Ringdal; Attorney-Gen- 

 eral, J. L. McDonald ; Supreme Court Justices, 

 Daniel E. Buck, Thomas Canty, W. N. Davidson. 

 The platform adopted demanded an immediate 

 and radical change in the State control of cor- 



