Minnesota

value, banks, saint, products, cent, industry, personal, property, total and including

Page: 1 2 3 4 5 6 7 8

Agriculture.-- Minnesota has been called "the Bread and Butter State," for its yields of wheat and dairy products have been its chief claim to agricultural distinction; hut other crops are gaining in importance. Corn-grow ing has advanced northward until Aitkin County, 250 miles north of the Iowa line, once supposed to be the limit beyond which corn could not be ripened, enters prize-winning ears at the Minnesota State Fair. The growing of corn in the southern part of the State, and the corresponding increase of stock-raising, has restored the soil to profitable wheat land, al though the great wheat fields are in the Red River Valley. Potatoes are the chief crop in the district between the upper Saint Croix and the Mississippi rivers; and are entering into the calculation of farmers in other parts of the State. While Minnesota cannot be called a fruit-growing State in the sense that New York and Michigan are held, its State Horti cultural Society and experiment stations have made it clear to the farmers that they can count on good crops of strawberries, raspber ries and plums, each of which have been greatly improved in yield, appearance, keeping quality and cold-resisting ability. Apples are pro duced in all parts of the State, although a good winter apple is still to be found. Vegetables of all kinds are easily produced and grow to a great size, especially in the sandy parts of the State. The dairying industry shows a con stant gain over the State year by year. Poul try-raising is also on the increase. A striking movement is that toward the improvement of stock. Bee-keeping has received an impetus through the appointment of State inspectors to ensure the heahh of the colonies and to sug gest the best methods of obtaining results. It is significant that as the cut-over lands are brought under cultivation by the assistance of the United States and Minnesota agricultural stations, the most efficient men are sent out as county agents to prevent the waste and loss that were inevitable in the days of the first prairie farms, so that surprising improvement takes place in the shortest possible lime. A comparison between the statistics for 1910 and 1917 follows: The total value of the 1917 crop, according to the United States government, was $447, 498,000. The value of the machinery and im plements used on the farms is $52,329,000. Of all the crops, onions show the largest returns per acre, yielding 504,600 bushels on 1,400 acres with a total value of $732,000, or $504.60 per acre.

The State still holds 2,000,000 acres of farm land and the United States 800,000. The pro posed special government aid in developing pub lic lands and a law already in force that pro vides for the clearing of a portion of each 40 acre tract sold by the State, will greatly stimu late agricultural improvement in Minnesota.

Manufactures.— The raw materials close at hand—breadstuffs, livestock, lumber and iron— are the basis of most of the manufacturing done in the State. Flour- and grist-mill products are of prime importance. Beginning with the gov ernment mill at Saint Anthony Falls in 1821 the industry has thrived enormously. By the substitution of steel rolls for buhr stones, and by the invention of the bolting process that purifies and saves the middlings that once were largely waste, Minnesota millers in the seven ties took first place in the world, and in 1917 mills to the number of 286 made flour valued at $300,000,000. (See MINNEAPOLIS - Manufac turing). The second industry is the slaughter ing of cattle, sheep and hogs. South Saint Paul is the centre of this trade. Extensive yards receive the stock from the ranches and farms of Montana, Wyoming, the Dakotas and Minnesota, and the packing-houses produce an annual value of $47,710,000. The third industry is the manufacture of lumber and other timber products, such as sash and doors, cooperage and boxes. In these interests there are 481 firms, and they produce an annual total of $47,000,000. Foundry products, machinery and car repairs together make a fourth industry of importance. In all 450 concerns produce goods valued at $39,000,000. The gas tractor is a rapidly in creasing figure. Although farm machinery is

chiefly made there is apparently growing di versity in this industry. At Duluth, steel mills are turning the ore of the Mesabe and other ranges into ingots for Eastern shipment, and are making some steel, although the Western market for this product is necessarily limited. Other products of Minnesota manufacturers are butter and cheese (see Agriculture) ; other foods, including confectionery, ice cream and bakery products, valued at $32,350,000; clothing, including knit goods and boots and shoes, $20,000,000; printing and publishing, $20,200, 000; linseed oil and meal, $12,356,000, and malt liquors, $14,300,000. There are 5,794 firms in the manufacturing trade. They employ 92,834 persons and produce annually $493,354,136 worth of goods. For this manufacturing there is al ready available 100,000 horse power in the streams that have been exploited, and, by gov ernment estimate, another 100,000 awaiting de velopment. Saint. Anthony and Saint Croix Falls, Thompson Darn, in the Saint Louis River, and Coon Creek in the Mississippi are the chief points of contact with an electric system that promises to complete many other projects in the near future. Coal enters the State over Lake Superior, and is stored, pending shipment to various manufacturing points, at the Duluth docks. See DULUTH - Commerce.

Banks and Banking.— Minnesota has care fully drawn laws governing banking operations. There are no private banks. All State banks are subject to inspection of the bank examiner. In 1917 there were 1,125 of these banks. Their capital was $23,612,500; their deposits, $259, The list of State banks includes nine savings banks, capitalized at $350,000, with de posits at $36,719,749. There are 294 national banks with a total capital of $32,506,000 and deposits of $289,031,000; and 12 trust companies, capitalized at $4,260,000. At Minneapolis is the Federal Reserve bank for the Ninth District; and at Saint Paul is the Federal Farm Loan Bank for the Northwest territory.

Finance.—Under the direction of the Minne sota Tax Commission all assessments in the State are reviewed, first by the local board, then by the county board to adjust differences between districts, and finally by the commission to arbitrate between counties. Personal prop erty of the first class, including iron ore, in stack piles, is assessed at 50 per cent of its value; personal property of the second class, including livestock, manufacturers' materials and auto mobiles, bears an assessment on 33%3 per cent of its value; and personal property of the third class, or household goods beyond exemption of $100, is assessed at 25 per cent of its value. All credits and money is assessed at full value. Rural real estate is taxed at 33A and urban real estate at 40 per cent of its value. Railroads and telegraph and telephone lines pay a gross earnings tax of 5 per cent and 3 per cent respectively. On this basis the State assessed in 1917 its personal property, $263,193,685; its real estate, $1,403,409,459; and its money and credits, $284,968,875. The true and full value of its real estate was $3,684,054, 371, and of its personal property, $778,612,283. In 1896 the State treasurer reported receipts from all sources of $5,482,876; in 1916 of $20,061,320. For defraying the general ex penses of the State government and activities there was of this sum $17,800,000 available; the remainder was credited to various school funds, certificates of indebtedness and the prison re volving fund in amounts of $3,645,225, $3,275, 930 and $2,077,813 respectively. Of each dollar received by the treasurer for defraying gen eral expenses, 35.47 cents came from general property taxes, 30.80 from railroad taxes, in cluding freight lines and sleeping-car compa nies, 9.89 from interest on State lands, State loans and trust funds, 6.80 from various State institutions, 6.64 from' departments, 3.78 from inheritances, 2.86 from Insurance companies, 1.42 from the State prison and 2.34 from mis cellaneous sources. The present rate of State taxation is 3.80 for general expenses, and 223 for school and university.

Page: 1 2 3 4 5 6 7 8