Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-06-20

a..s. STATE BANKING BILL
.= Provides
Control Of Millions
Political control 81 millions 81 dollars Of public moneys is created
BY House Bill No. Is, known as the Bank Of North Dakota Law,
the broad powers Of which are such as to establish q complete system
Of political financial control that is, without question, dangerous to
the future financial status 81 the State, and also opens the way 70:
possible irreparable damage through losses that may be sustained BY
? Rq 3. .s l, man,R qa at.as -. The lls:, experience ssPs Mnas:. OF Gt, Gfhsa ST. states stss IT,, that 9s lRa,.s
8am Is h. should d !. d .s sa as mo- state that ia: s S into 1t the tsa banking a s5+safr m mas, e%s ahs s He
institutions. and final abandonment th banks and the reputation Of bonds, followed in the
Officials May "Transfer Funds to Other Departments,
Institutions, Utilities, Industries, Enterprises or
Business Projects of State"
re s.sss power % are contained dr. j. House. Bill No. rs1hsv which: mos: salient sr 70 =.
s :@ is; s@ % sss %@ 1@ W! es % %%I% s% %a %% 81 % % % " "y %s s% s md" to s%s ssss @ s% nj.
navy AK n s% yms%%s% %%ase %ps: and @%ss to s%sl Or ss u" i nay Il:
s saay as a s@y s% t xrsn"s se a% Amy i %A s* sustained" 0" have to l" made up by ss" taxation that
NO Bond for Officials No Penalty for Mismanager,ert
:ss e. $ -; Il ::S s f. : e.; :;$ :: s en- ;% ;;S :; & g $ : :s$; f.: + :: re-: :; : :s:: :: ;;; F. :: ! e. E: : IT.: g.: 5 : :$:
hs s %s s ss s s@ ss: :a%s n4 s The: es ssa%s sx the s s additional %a 1 ssa %y ; 5 sS1f tho s @%s m Millions Of dol
% "% Il s s f.; Z z $; s;s ss I'M % &; %% ; s ss4 s %s !: = ;S ;: s9 ; sss: T. + s: 5s e. It'll; . % %: Il;
S% t uss It ;ae@ s %Ss aa @s %%'"e~ 'H me "a" "'s "' the money Ae Or properly handled !" as
Does This Lav Sound Like Safe Banking in Comparison
With the Safeguards Placed Around National,
State and Private Banks
may 'ssss as s&s s: ss s s. s ss ; y yts ta %s @s ssss S sss s@ @ s% a %z gs2 7s s. s s! s.s
ed purpose fhes sponsors of the measure @@#.@.@%
i S rs $ s; {; 81 8; + :: : :; !; : $: s.: e Z; I: {; $ ;::$ :: : $$:;: $ :$ $$ { $ $ e $: :: :=; +; : II {: { !: {: E :: 6: E: :: ne !:
louise Bill oB - g.
s sa , r. $ r w. ;$ g. e :: s $$5 r S S $ H. s :f r. 3; $ IS $ ss & :H : s 6 $afs g :4 s III ;@ sssss
r. r. f. =: s: e. 3: :5 &C. $: :"=;= : :*s % %= sS s ss "% = ;s' &c: %: : %* q s sT s% r s sG s @ :;
Ana + % s: &s g2%& e sts s RI; s$ss: x ss ~ z S& %M sf 1% *: g Gs ss ss ss s:sfs a,
-r ntprsasw MhM even eehnga e either obligation to pay back the none thus lemedu whether Il.
is taken from thu MhdM fund Tort rom once the other oft the many ou pMcf LA hat Mrn tn mnno nM
bank - -ni
&@@ 49, %1&
Bank NOT Required to Make Public Its Condition..
No Safeguards Against Graft. Promises Don't
Make Conservative Banking
Other AMI. are repd nm make mbc shtemnsfh their cnddonsh rom time to time at the au dhe
condition to publish reports GIFTS condition. neither te bank examiner required to make reports tn state
banking board butt instead is required h inspect the ankand port only to endhnLc commission
There are mo safeguards against graft in this Law and the hoy of ali state. show that whmevrm opening
hast been created for grating np M place, gahas Away tmtoo Offices and use the oformhyk br
fit Of themselves and mehmen EM## @-