July 1976: SDGOP burns the note after being up to 90k in the red.

I’m working on a little history project, in part for fun, and I stumbled across this news item from 1976, which I think could be oddly prophetic for the SDGOP as it is now:

July 14, 1976, as it appeared in the Mitchell Daily Republic, the Chairman Leo Thorsness and his Assistant Roger Meyer (you know the former chair in Yankton – still carrying water for the elephant 50 years later!) are burning the note to end the South Dakota Republican Party’s debt, which rose as high as $90,000 back in 1976.

In today’s dollars, that’s nearly $500,000 of debt that the party had racked up at one time and paid down. The SDGOP has had minor bank notes since, but this might have been the most massive debt the party had.

Which given the state of the South Dakota Republican Party’s current finances and inability to raise money as led by former Obama Democrat Jim Eschenbaum, we might see a return to the SDGOP carrying that kind of debt load if someone is willing to sign the note.