The Oakes times. [volume] (Oakes, N.D.) 1906-current, 1919-10-23

(New York SUM-

(New York Sum-
North Dakotas State Socialism, which is controlled and op
Grated by the socaed Nonpartisan League which itself is
o in the to GS%
Fargo says the closing Of the institution by the state
those who have been resisting his Wildcat political league and
his wildcat state experiment took advantage the shocking
ditlon OF the Fargo bank the wide and weird workings
Of Towney's league and Townleys whole scheme.
But politics politics. the fact remains that the bank
ammed with notes of Towney league of subsidiary
Towney league Towneys subsidiary corporations The fact
1s. s @ lay
the CORPORATIONS and individuals getting the The fact
pe The 5
they were made contrary to ordinary common sense
Where there supposed to be collateral under the notes.
lateral the form Of posdated checks postdated check
isn't the equivalent Of postdated check isn't
promise to given date postated check isn't
anything in the world can't be anything in the world except
call On bank to out s1 at s%e ns II I
bank.
The bank which in the hands Of the receiver was
stances large numbers Of these posaed had been
moved in the hands Of outside
checks had been actual Collateral instead nothing
there nothing to show for the M 1 re-
purpose psapso e.''' ' -. $40
politics 4 that the bank ah
abs and the greater part its
ery and wsey Nonpasan League and its socalistic
the Publishers National Service Bureau etc. How
other hank that had been the anything but
insolvent?
But the big lesson not the wreck merely OF the
Fargo bank banks other states have lent out funds
to and individuals that shouldn't have had
such loans Other carried false worthless
Other banks bean ruined by criminal or reckless
Inent The essontH the Fargo bank np Is tSe
lrnacy Of the whole Tovvnley scheme. ~ ~''
ownleys league could go into almost kind Of
The state could GO almost any kind Of ws M sna wo
crednot brains not training not experience not
opportunity with plenty Of money to plunge no any
sort of undertaking. Wherefore state law al
deposits made banks That would make everybody
the banks Then use back all the socastic
prises set foo by league and by the state How cooo ne
state scheme when the depositor sure OF MS
though It and into wrong
when the enterprises were to get all the money
they wanted? But it has failed.
How many other in North Dakota will go the way OF
the Fargo bank nobody could But every one OF them tna1
way This is sure All the sociasc industries all the SO
cialsc businesses ocaistc that nave neen
ot tnp temporarily such banks will also 60 the same way
This r. sure State Socialism North Dakota already settled
+ho voters will have wait to deliver their Official verdct unt
thev can get to polls the question me
scc;sl;st;c nroQra will be stopped dead in its tracks
Meanwhile we may ponder truth that there Towneys
in other and other fields without economic knowege
without financial training experience without business sense
without either the the last qualifications for building IN
dusty soundy conducting business safethere are many
ovneys crazy socialist Bolsevist job
the whole steel industry all the railroads. all the coal mn M
the banks Towney and his league have beer running
North Dakota to the ptchoff