It took a bit of deciphering, but as far as I can tell the biscuit reads:
I hereby promise that whenever the opportunity presents itself, I will use the [...?...] passenger service offered by the Northern Pacific Railway and partake of the high class dining car service rendered on its Trains"
I wasn't able to figure out the words on the most cracked section. If anyone else can, please let me know. I thought this was a very cool bit of history. Who would have thought a cookie would have made it 101 years? How cool is that? I bet it was beautiful, and delicious, when it was new. I can't imagine it would be very tasty now.
From the Minnesota Historical Society: Decoration from a cake with box. Box is off-white and reads "1912 / New Year's Greeting / Northern Pacific Railway / Dining Car Department" in gold lettering. Inside box is a shield-shaped decorative biscuit from a cake. At top is circular "NORTHERN / PACIFIC" logo, with "1912 / A Resolution" written in gold frosting. Below a list of resolutions is written in pinkish-white frosting. Biscuit is broken into four pieces.