The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-06-16
THE PLAIN TRUTH ABOUT
MR., T0WNLEY'S PROGRAM
Facts Taxpayer Should Consider Before He Makes Up His
Mind How He Is Going to Vote in the
@E~ Referendum Election June 26
THE BANK OF NORTH DAKOTA
FE. PACKARD. TAX COMMISSIONER

y I'm support Of my contention that Towney had in
mind other objects than the benefit of the common people
and that he and his social coworkers were more inter-
ested in international socialism and in the establishment
of sociastc state in North Dakota than in the enact
ment Of the laws which and honest and which
will protect the people in their rights submit the prin-
approval rejection the 26th. Unlike most Of the
obectors to Mr. Towneys program will not start with
the educational bill the newspaper BILL although con-
slider them both the most vicious kind Of legislation but
with the which is vital to the success OF
Townleys scheme-the banking bill. ."s
.1,-e.t a.. The Matter of Rural Credits
"For years have been an advocate of rural credit
banks modelled upon those of Europebanks in which the
collective credit of community could be used The great
need of the farmer and of the small tradesman mechanic
etc. in order to enable him to become home owner is
cheap mobile moneymoney which can be secured at the
lowest rate of interest and at the time he needs it. Nearly
all civilized nations have provided banks to meet this need
banks where money be secured at the lowest rate OF
interest without payment of commission to middle man.
and banks where societies communities upon their
collective credit obtain money for member OF the
community money at the very lowest rate of interest
"When banks were discussed in connection with the
Nonpartsan League movement as scores OF articles IN
Townleys publications will prove, it this kind OF
bank that understood careful observer OF House
Bill 49, which creates the Bank of North Dakota and the
accompanying measures discovers that the bank had no
such purpose. .,5"
"The Bank of North Dakota will not furnish cheap
money to the who need it, An individual or private
corporation CdH seizure lOdll Ouy
real estate or upon grain storage tickets. man who
has unencumberd real estate grain storage tickets is
not in need of cheap money He it at reason
able rates anywhere-but it is the who does not
have this kind of security who needs cheap money If
John Smith, who has plenty Of personal security and good
credit desires $50000 to buy seed wheat and finance the
putting in of his CROP he can't get from the Bank Of
North Dakota He must go to his local bank where the
public funds which have been collected by the Bank of
North Dakota have been loaned where he secures money
at the usual rate The only effect of the Bank OF North
Of of
has been added to the cost Of the money which he
borrOWs.
What the Bank Is
without going further into the merits of the Bank,
desire to point out of the things which indicate
that this law enacted for other purpose than to
create bank for the benefit of the people and to safe
guard their interests The provisions of the act below
enumerated are peculiar to it. challenge anyone to dis
another bank in the civilized world organized under
the provisions pointed out.
The bank is not governed by law but by rules which
are made by three state officials who have financial
interest in the bank and who elected bannually.
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