The evening Caledonian. [volume] (St. Johnsbury, Vt.) 1918-1920, 1919-03-06
NO. DAKOTA Law
FOR INDUSTRIAL
PROGRAM in FORCE
Bill Creates an Industrial
Commission and Has
Power to Act
SYSTEM OF BANKING
Banking, Home Building and Flour
Milling are the Projects
Covered

BISMARK, N. D., March 6-The
laws permitting the state of North |
Dakota to go into business under !,
the industrial program of the Nation |
al Nonpartisan League went into eff
feet when Gov. Frazier recently sign
ed the bills. Banking, home building
and flour milling are among the pro-
jects covered in the ten constitution
al amendments adopted at the last
general election. i
The parent bill creates a state in
dustrial commission composed of the
governor, commissioner of agricul-
ture and the attorney general, who
are given blanket authority in estab-
fishing necessary state departments.
The commission is given authority for
the operation Of a system of bank
ing under the name of the bank of
North Dakota.
The banking measure provides for
issuance of $2,0O0,000 in bonds to
furnish capital. The system will
start whenever the sum of $2,000,-~
900 issued by the state as provided by
law" has been delivered to the COM
mission. The bank will become the
depository of all public funds of the
state, counties, cities and school s.
i tricts. General banking business is
authorized, and in addition the Cen
trail state bank will become the de-
| pository of the reserve funds of
several hundred private banks char
| tered by the state. These reserves
are now held in St. Paul, Minneapolis,
and Chicago. The state bank will
have charge of the ISSUANCE of state
bonds to finance industrial enterpris-
es and will act as rural credit bank
promotion of agriculture.
| The industrial commission bill and
the banking act have passed both
houses by two-thirds majorities,
which permits the inclusion of an
emergency clause putting them into
immediate effect. The other bills are
expected to pass soon with the emer-
gency clauses.
The other league program bills
provide for the erection of terminal
elevators and flour mills, and ex-
tend state credit to all citizens desir-
4 ing to erect homes.
Other phases of the program which
eliminated taxation on certain i'm
provements, provided state hail IN
surance on crops, state industrial in
surance for workingmen, and made
other changes proposed by the State
Federation of Labor.
The milling measure authorizes the
establishment of system of ware
houses, elevators, -four mills ,anc
factories with which the state viii
engage in manufacture and marketing
of farm products. The milling asso
citation will be capitalized at S5,000,.
600, part of the money to be obtained
through certain funds in the state
treasury and part through the sale
of state bonds.
The Home Building Association o.
North Dakota, authorized under tn,
home building measure, will purchase
or build homes or farms for citizen.
on receipt of twenty per cent pay
ment. The remainder may be pait
on an amortization plan in from ten
to twenty years. A house costing
$4,000 can be purchased in twent,
years on monthly payments of So
according to league members. The,
say the act will bring rapid settle
ment of the states idle lands.
State-owned coal mines and pack
ing plants, also a part of the leagu
program, We're not expected to be at
thorized at the present session.
One bill expected to be acted upo
imposes a one-half mill tax to Great
fund for returned soldiers VIII
would be entitled to SIS for eac
month in service. The money woul
be placed in the home building ASST
citation fund or be deposited for th
soldiers education.