The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1918-10-09
FRAZIER PLAN T0SADDLE STATE
WITH $300,000,000 BONDED DEBT
MEANS 10 TIMES PRESENT TAKES
State Would be Compelled Pile Up Sinking Fund
900 Per Annum for Fifteen Years to Refund
.<h :, .- rs i Oblg alton.

two issues). The new section reads,
The state or any political subdiyis-
ion thereof may issue, OR GUARAN-
TEE bonds In excess OF the debt limit
specified in this article provided such
bonds las are glaranteed) are secured
by first mortgages upon real estate or
UPON PROPERTY, OF PUBLIC UTIL~
tiles, ENTERPRISES OR INDUS
TRIES" ~ : 1..s>
... Closed of Discussion.
Now have in my hand a steno
graphic report OF all the proceedings
had both in the session proper and in
committee Of the whole on house bill
"A. | read now an amendment to the
proposed bill offered by myself as fol-
lows: I offer an amendment by in.
serting at the end OF section 172 of
the original printed bill, l73 OF the
second printed bill, the following
clause, Provided however such excess
shall not exceed in the case of the
state one million dollars and in the
case OF any political subdivision one
hundred thousand dollars In support
OF that amendment ! said, Mr.. Chair
rlan, just briefly, a great deal Of un'
pressed as to whether or not original
section l72 permits of unlimited i'll
'debtedness 1t is contended upon the
one hand that it does, on the other
that it does not. l make the proposal
to insert the sum of one million dol
lars as the limit OF the Indebtedness in
order THAT THEnE MAY BE NO
QUESTION AS TO WHETHER OR
NOT THAT SECTION DOES NOT
LIMIT THE AMOUNT OF THE IN
DEBTEDNESS that may be incurred.
II there be a. limit we want to get at
it ii there be not limit we want to
know. it before we vote upon the bill.
If the amount of one million as ex-
pressed is too small we will offer fur
ther. amendments until we arrive at
what is a proper limit in case it is in
tended to permit of limit at all. We
think there should be limit to the
amount of indebtedness that the state
and the municipalities may incur
This would seem like proper and
orderly way for a body OF men to get
at matter OF SO much Importance.
but instead OF action on the amend
ment Mr.: Maddox floor leader, NOV
ed that the committee arise without
taking action and the committee arose.
When the committee convened again
the motion was readyanced and voted
down. ;"
The motion was followed by other
amendments setting the limit at two
million, three million, five million. six
seven ten and SO up twenty, all
by the strict party vote.
There WAS much discussion as the
thing wentualong. Mr.. Sinclair, now
candidate for congress from the third
district said, The city Of Minneapolis
is bonded for $420O0.000. 1t is ridic
ulous to talk about debt limit for
this state
Mr. Cole. of Cass, an acknowledged
leader, said, If you want it made real
plain | will say, let the limit as far as
am concerned be the blue sky This
was at the ten million dollar point.
"While this question of debt limit
was waxing hot in the legislature the
governor in an endeayoE to create To-
cal sentiment addressed a public meet
ing in the auditorium in Bismarck, he
said. 4 read from the, Nonpartisan
Leader of date February 15. 1917,
Hc City VI DlSIldlCh DOAuOu AOA
about 100000 to improve this city.>If
one little city like this can bond for
100000 Iidon't see why the state
cannot bond for that many millions, or
more, for the benefit Of the state.
There is NO REASON WHY 1T
CAN'T OR WHY IT SHAN'T. I be.
lieve the people are going to demand
it and keep on demanding it until they
get it, ~, .. 4,..
HAS anybody any doubt left now
about whether the debt was unlimited
under House Bill a.?
"This proposition was far afield
from anything embodied in Mr.. Fra
zier's declaration Of principles and
Continued on Page Three