The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1918-12-12
THEIR PASSAGE SPELLS PROSPERITY.

of s~tate-owned terminal elevators and flour
mills, the establishment of state hail insurance
and rural credits banks, and other progressive
legislation that will deal with. the economic
new industrial era that should spell prosperity
for every legitimate business interest in the
state of North Dakota, as well as meaning more
money for the producers and a decreased cost
OF living for the consumers.
During the recent campaign, it was falsely
represented that these amendments threatened
the business interests of this state. They do
nothing of the sort. The only individuals or cor
porations whose profits are threatened are the
millers, the packers, the insurance combine, the
land spectators and loan sharks, and practical
ly all of these are located outside of the state.
The legislation which the amendments make
possible will curtail the exorbitant profits of
these out-of-the-state interests-that is the
purpose of these meaures-but that will mean
more money for the producers of North Dako-
ia and this additional money will be spent with
in this state and every honest business man in
North Dakota will thereby derive a direct and
immediate benefit.
Take the matter of farm mortgages, for in
stance. The farm lands of North Dakota at
the present time are mortgaged for the stagger-
ing sum of $3o9, 100000. Most of these mort
cages are held by trust companies outside the
state. The average rate of interest paid on
these mortgages, including commissions and
the cost of abstracts is 81 per cent. In other
words, the farmers Of North Dakota are paying
an interest bill of SIG, 1888, 900 every year. This
enormou sum is drained from business chan
nels in this state and goes to enrich out-of-the-
state interests.
The creation of a rural credit bank in all pro-
liability will mean that farmers can borrow
money from the state at an average rate of 5
per cent. Thus, in the matter Of interest charg-
es alone, the farmers of this state will save SILL
$4,000 every year, and this $11,433,0O0 will
stay in North Dakota and be spent with the
legitimate business interests of this state.
The saving which will be brought about by
state hail insurance will mean the retention of
millions of dollars more within the state. State
ly one-sixth of what is now charged by private
companies, practically all of which have their
headquarters outside the boundaries of North
Dakota. This money, too, will add to the vol
ume of business done by North Dakota mer-
chants. '.
State-owned terminal elevators and flour mills
also will save huge sums annually for the grain
growers of North Dakota, not only by giving
them a fairer price for their product, but by
eliminating freight charges on their wheat from
North Dakota points to Minneapolis and Duluth
as we'll as the return freight charges on the fin
ished product, which are borne by the consumer.
These sums, which will aggregate millions of
dollars every year, are a direct contribution to
the business men Of North Dakota.
In the past North Dakota has been economi-
Cdlly uCpClluCHI upOH ClS WILL 1tlCo o1u Jill
cago. We shipped our grain and live stock to
the Twin Cities and brought back the finished
product, losing money through excessive pro-
fits and unnecessary middlemen at every stage
of the double transaction. Now the passage of
the ten amendments makes it possible for North
Dakota to declare it's industrial independence.
We, as a state, are going into business for our
selves. We are going to construct our own In
dustries and build up our own public utilities.
Instead of merely being a trade province of the
Twin Cities, dependent upon them for what we
buy as we'll as what We sell, the people of this
state are going to patronize home industries
and build up home markets.
Can any sensible personalities he is Who'll
~ blinded by POLITICAL prejudice-doubt that
this means a new era of contentment, progress
and prosperity, for North Dakota? Can any
dry-goods or hardware merchant, implement
dealer, druggist, grocer, piano store proprietor,
lawyer, doctor, or any other individual or firm
engaged in honest business fail to see that the
creation of new industries in North Dakota
means increased prosperity for the producers,
the speedy growth of our small industrial CEN
tiers, the coming of more workingmen, and the
annual addition of millions and millions of dol
lars in. all the ordinary courses of commerce.?
The campaign against the ten amendments
was financed in the main and carried on by
agents Of the Minneapolis Chamber Of Com
merce and the land SPECTATORS, trust compan-
les and insurance concerns which center in the
Twin Cities. THEIR fat profits WERE threat
ened-but doesn't that very fact indicate that
the stoppage of this annual drain will leave
more money to be spent IN NORTH DAKOTA?
It certainly does.
Shrewd and far-seeing merchants and profess
sional men should welcome the passage of the
amendments. The foundation of this states
prosperity is the farming industry and any
measure which benefits the farmer will bene-