The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1911-02-02

having 1T place for loan on a different
oasis than is at present practiced.
Under the substitute resolution pro.
posed by Mr.. Price, and the adopted
objects Of the proposed investigation
by special examiner, whom the gov.
ernor is asked to name, are to gain
an insight into the business of the OF
flee and determine whether or not the
system is satisfactory.
When the resolution came up for
consideration as it had been adopted
in the senate and recommended by 9
minority OF the state affairs commit
tee OF the house, Representative Sorlie
or Trail county moved that it be moi
concurred in. He declared that there
was feature Of the resolution with
which he was not very favorabIy i'm
pressed, which pertained to the hand
ling of the interest. He felt that the
present rate of 3 per cent granted to
the farmers on first mortgage loans
should be undisturbed and for that
reason was against the resolution.
Opposing this measure was Mr.. Price
who contended that the resolution was
not for the purpose of attempting to
secure any raise in the rate, but that
it was a question of obtaining better
methods in the handling of the de-
partment's business. He believed that
the system should be entirely revamp.
ed.
Mr.. Marion of Morton county was a
member Of the committee on state af-
fairs that considered the bill and was
one or those signing the majority re-
port favoring the indefinite postpone
ment OF the resolution. He said that
there was some scheme connected with
the proposed investigation that did nor
appeal to him, claiming there was a
movement on foot to have the money
handled through trust companies or
banks
When Mr.. DISCARD was recognized
at this point, he spoke for the adoption
of the resolution and said that it was
a matter of securing a better business
system more than anything else. In
conclusion, Mr.. DISCARD said that he
did not favor all this discussion which
was all very we'll for a high school
debating society, but not for digni-
fed body like the legislature of the
commonwealth of North Dakota.
Colonel Frame stated that the in
vestigation could not bring about high.
er rates of interest, as that was n
matter for legislative enactment. The
commission proposed would be merely
to advise the next legislature of the
situation
The discussion was continued until
after the joint session. when Ii was
resumed with full vigor. On resump-
tion of the discussion Mr.. Price in :
troduced his resolution which was
finally adopted. In the substitute res
olution as presented, the interest
clause was retained, but this was later
withdrawn by the author. Mr.. Martin
moved for indefinite postponement, but
this motion did not carry, and the sub
stitute resolution finally prevailed. AS
a result of the cross fire of amend
ments and motion, there was at one
time four questions before the house
in the way of amended motions.
Following is the resolution which
as substituted by Mr.. Price of Far
go, now stands:
Whereas, we believe in the fullest
measure of publicity in the conduct of
our public affairs and deeming 1t OBJ
li5dLOly upon us 10 li4bIIil ourselves
and the public as to the business meth
DDS employed and economy practiced
in handling the public lands of this
state and the loaning of money there
on. Therefore be it
Resolved that the house of represen-
tatives, the senate concurring. do re-
quest that the governor Of this state
In accordance with section 14s Of the
revised codes OF North Dakota, copy
Of which is hereto attached, that he
select a special examiner as provided
for In said section to examine the books
and accounts OF the said board OF uni-
yersity and school lands, that said ex-
aminer, through the governor, shalt
give a report in full to the next, or
thirteenth legislative assembly on the
following points
The amounts invested In different
securities with rate of interest.
The amount of matured securities
and investments that haze not been
paid
The amount Of past due interest