The Ward County independent. [volume] (Minot, Ward County, N.D.) 1902-1965, 1914-06-11

from legalized Investigating,
battle your conscience in the spirit of
honesty, until you turn from your Shy
lock greed!
Patriotism and Confession.
BOLIVIA, Minn.-The Olivia State
Bank will loan $4,000 to the farmers
in this vicinity without interest until
Dec. l, for the purpose of aiding them
in the purchase of blooded Stock
News Item.
While this is a patriotic act on the
part of the banker, still it is an open
confession that high rate of interest
is against the better-farm movement
and therefore against the progress of
the state as we'll as the progress of the
farmers.
When Bankers Favor Per.
On the question of improvement of
cities, a law, S. B. No. PAL, passed the
last session of the legislature and on
the rate of interest the law reads:
"* which warrants shall bear inter-
est at rate not to exceed seven per
cent per annum."
Now, Mr.. Banker, in the cities is
where you pay most of your taxes on
banking houses, fixtures, brick hotels,
! mansions, etc. When you have to
bear your part of the interest then IL
| per cent is entirely too high, but z
per cent just suits. Where is the JUS
tice in allowing a citizen living in a
city to pay per cent and requiring
a citizen on farm to pay IL per
cent? Why were you not afraid that
"all the money would leave the city,
and 60 to the country where the
farmers pay higher rate of interest :?
Seeing Invisible Shift.
Compare the votes on H. B. A, To
reduce the contract rate Of interest to
10 per cent (for farmers), with S. B.
PAL, To limit the Rate in Cities to z
per cent (where bankers pay the
rate). Records of the House, H. B.
4, "ayes 81. nays 80, absent and not
voting H." III. J. 657). Senate:
"ayes, %, nays %, absent and not vot-
ing d." IS. J. 1855. Now watch in
visible government" put halter on
their necks and lead them around as
slyly as a land turtle withdrawing his
head into his shell. Records House:
S. B. PAL, "ayes 1O8, nays /, absent
and not voting g." III. J. page 1857
Senate: "ayes, 43, nays 0, absent and
not voting T." Is. ]. page 1870.
To the Bankers.
I am not taking a position to fight
the bankers, but to resist your efforts
whenever and wherever you oppose
the reduction of the rate of interest.
Banks are as essential as farm tools,
but they should be operated for the
convenience of the people. There is
no better argument for this assertion
than the fact that the U. S. govern
ment reports show that the banking
business is done on Is per cent of
their own money and IS per cent of
other peoples money.
the operations Of the financial conven-
fences Of the country. One is exempli-
fled when the grain buyer must seek
for money with which to buy the
grain, through the local bankers who
apply to the Minneapolis or Chicago
bankers, who apply to Wall street
bankers for the money. The money is
obtained but all the mediums must get
rake-off for services rendered. The
price of the farmers grain is reduc-
ed enough to pay the mediums. This
plan was invented by old Shylock.
The other position was illustrated by
Secretary of the Treasury, McAdoo
last year, when he provided a con-
venient and less expensive Ito the
farmer) plan, with which to move the
crops. Farm loans could be simp(ificd,
the rate of interest reduced to 6 per
cent or less, if only the fangs of Gin
visible government" could be kept out
of tho 1ecic1atnre H..
We have the Shylock plan of fur
Inishing money to the farmers in N. D.
today. And especially farm loans.
Just think about it! Two per cent
kof greed more than the old fittings
isystem!
The average contract in the United
States is near 1874 per cent. Hence
when l place the rate at 8 per cent,
am allowing you above the average
rate, therefore more than fair Will
you.
The fact that you are working in Sc
cret to maintain your IL per cent rate
l. is confession on your part that you
are not acting fair with the tillers of
the soil, and other callings.
Legislators Should Explain.
To the members of the legislature:
1t is the bankers legislative COMMITTEES
that accuses you of acting under and
representing invisible government
instead of the people who elected you
The charge is serious one and should
not be passed unnoticed. / refuse to
take sides with or against any one Of
you until the primary election has de-
cided your lot on the oath inst. Then
shall have some record to present
In the meantime some of you ought
to explain your excessive mileage in
attending the last session. In connec.
ton with this invisible government
deal it does not look well to say the
least. As an example, one member
who lives, according to the R. r. time
table, 10 miles from Bismarck, OF
22O miles the round trip, collected fol
638 miles. According to the records
it seems that he travelled somewhere
some direction for distance of 1872
miles on the railroad passing through
his town and then he was 1877 miles
from Bismarck on another road. Bear
| in mind that he was only 10 miles
from Bismarck when he left home. He
should have collected $22 as mileage
for the round trip, yet the state aud.