The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1919-04-25
SOME ASSERTIONS ANSWERED


Not many days ago The Cou,ierNews pointed out that
atho the state bank manager had definitely assured
deposited With member banks 81 M various communities,
that this would be done This assertion angered the
esteemed Alert which proceeded length 70 pour
by ewing to why it opposes the bank bill
which it declares have and cannot answered.
be answered. They cannot Of course, be answered to
the satisfaction of the Alert newspaper that still
insists that state funds are to be drained entirely away
from the small communities is past convincing OF any
thing 1t belongs to the order Of enlightened beings
those backwoodsmen who still that the world is
flat But perhaps there are honest douoters con-
vnced of the utter untrustworthness Of the kept press
who may be seeking, light on this measure. For their
sons" against the bank the first Of which is:
/. Takes money from the county, making it
harder to secure short time loans.
Against this unsuppor ted assertion by the Alert
have the Of the bank which has been
accepted by every banker in North Dakota
2. Cannot lower interest rates first mort
cages, federal land bank is now loanng money .
first mortgages at ~ per cent.
But the federal land bank has thus far reached only
average interest rate on the states in farm
strict that most farmers federal loans
The state rules will be LIBERAL and without question
apprecaby. At the very least It will enable many
farmers to secure cheaper money.
3. Cannot make loans for less than 10 years. J
The banking act provides that (Sec. 17) Advanced
payment of annual instaments, for the
duct10n OF the principal or the payment OF the entire
principal may be made at any regular nstalment date"
a. Cannot make loans on chattes crops or
notes to help farmer buy seed, hire labor harvest
crop.
The bank loan money to any farmer on
house receipts does not AIM however, to enter regular
commercial banking That left now, to the private
banks BY ending the control of their funds by the Twin
Cities, however and keeping all North Dakotas money in
the state is believed the private banks will be able
loan money at somewhat lower rate. II they insist
making unduy large profits they will simply
demand for extending the powers of the state bank
commercial banking.
5. Takes from county interest paid on public
funds by local banks.
to the state. The state bank will let it's funds 20
without proper remuneration Probably it will get better
interest than most Of the counties have been getting
And II the counties lose the interest," it will be applied
reduction Of the state that the effect upon the
taxpayer will be the same
8. Places millions of dollars in hands Of COVER
nor without ample means of safeguarding peoples
money 49,,
The peoples millions in the hands of private
bankers whom the people have practically no
The their elected servant The farmers legis
ature has submitted amendment making him subject
to recall Is he, private banker likely to safeguard
better the peoples money?
Z: Is not necessary to carry out building and
nng OF terminal elevators and mills
In view OF the desperate fight being waged against
the mill and elevator bills how far would the state get
in establishing those institutions If it did not have its
own bank to finance them What would happen If the
tight place million So which could only be obtained
from the Twin Cities banks? The states industries cam
not be operated ut all without the bank It is the founda
ton Tor the whole structure.
there are any citizens who have any question on the
subtse would BE- WELL instead Of taxing the assertion
q IT, enemies Of the plan, = yse ~ ~ IN itoeN
sad study Il carefully.