The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-06-14


participate in the management of that property Nor do
the people upon whose property these mortgages
secured enjoy such right That right is invested solely
in board Of three directors of whom the chairman is
really the dictator, through unlimited veto power
which. has been conferred upon him by legislature
Members of this board obtain and retain their posi-
tions through politics. Once in office they will remain
there for two years. matter what bunders they may
make Once in office they are the masters of intricate
machine which they may at the expense of the people
who elected them with view to perpetuating themselves
in office. ~
Under Section of House Bill H. "The industrial
commission is hereby empowered and directed to manage
operate control and govern all utilities, industries enter
prses and business projects hereafter established
owned undertaken administered operated by the state
of North Dakota, except those carried in penal cha
table or educational instituti0ns.'
The powers of this commission the right Ito
acquire by purchase lease by exercise of the right Of
eminent domain all necessary properties and property
rights and to hold and possess to sell the whole any
part thereof to construct and reconstruct necessary
buildings thereon; to equip, maintain, repair and alter
ell such properties and the improvements there
s ITO appoint at it's own discretion managers and all
necessary subordinate officers and employees of and for
each such utility industry and enterprise and business
and to remove and discharge all such persons at will
+. ITO FIX THE BUYING PRICE OF THINGS
BOUGHT8AND THE SELLING PRICE OF THINGS
SoED ci1entaf the said utilities industries enter
prses and business projects and to fix rates and charges
for any and all services rendered thereby;
ITO procure the necessary funds for such utilities,
industries enterprises and business projects by egotiat
ing the bonds Of the State of North Dakota
ITO conduct Investigations, etc., in which it is dele
gated the power Of state court with the right to SUBJ
poenae witnesses and to demand the production of books
ad to Ses oTTSs THOSE @
DISOBEY OR DISREGARD ITS DEGREES "AS FOR
CONTEMPT OF COURT"
ITO make rules and regulations for its own proceed
ure; AND TO DO ANY AND ALL THINGS NECES-
>SARY OR EXPEDIENT IN CONDUCTING THE BUSI-
NESS OF SUCH UTILITIES, INDUSTRIES ENTER
PRISES AND BUSINESS PROJECTS"
No more autocratic authority was delegated to
any body of three in the history of any monarchy,
and the only knowledge which the people by law to
have of the workings of this autocratc trumvrate will
be furnished in annual report to be filed by the indus
trial commission with the secretary OF state giving an
itemized account Of expenditures and receipts.
There is appropriated for the immediate expenses Of
this commission $200000 No limitation is placed upon
the time within which this appropriation may be expend
ed. 1t may be blown in in two months if the commits
sion deems it necessary expedient and this fund is
solely for the expenses OF the industrial commission for
each of the enterprises and utilities provided law to be
operated by the commission has neat appropriation of
100000 or 900 Of its own.
There placed at the disposal of the industrial COM
mission for the financing of the several state enterprises
$7OOO000 to be furnished through the sale of bonds
mortgages upon the property of the state It is required
that there be set aside each year sufficient retire
these bonds in 80 years. which would be $566666 per
annum 1t is also provided that the state shall by tax
levy by appropriation from any available funds to be
replaced through tax levy pay the interest upon these
bonds.
Senator F. W. Mees, an enthusiastic Lacquer, ex-
pressed the senate last winter the opinion that the state
cannot float its bonds for much less than percent
If the maximum interest rate is used the yearly charge
will be $1,190000 for interest The state would then be
required to raise by taxation $1,756666 per annum in
addition to the ordinary expenses of government
interest and sinking fund this bonded debt and AT
THE END OF 30 YEARS THE STATE WOULD HAVE
PAID IN INTEREST AND PRINCIPAL THE NEAT
SUM OF $52,700000 it's first experiment in industrial
democracy.
There are $4,000 farms in North Dakota, and they
pay IS per cent Of the taxes Each of these FARMS there
FORE may be considered morgaged to the amount Of $527
at the outset to carry out the program of industrial
democracy to which House Bill II will commit the state
And the operation Of this program which involves
every farmer, every business man, every aborer and
every professional in the state today, and which is
mortgagng the rights of their children and their grand
children is to be entrusted to the hands of three who
secure their positions through political favor and not be-
they are great captains of industry, or
financial leaders commercial geuses. Would any one
of commit our farm store law practice
little shop to the keeping Of trio picked in such
manner? .%4.~ A. IN
(TO BE CONTINUED)