Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-02-21
HOUSE VOTES
IS MILLION
BOND issue

WO -IlGdSOICS e dSSSO ITO.
vide Money for Rural Cred
it's and Mill System.
(By STAFF Correspondent
Bismarck, Feb. 2o.-It was a ff-
lei million dollar day in h North
Dakota legislature. The house Of rep
r~esentatives," within a few minutes
and without debate, passed two bond
issue bills, the two measures aggre-
eating fifteen million dollars. The
first bill provides for a ten million
dollar bond issue for rural credits for
the state bank. and the second a five
million dollar bond issue for the
state owned elevators and -four mills.
The senate this afternoon reconsid-
cred the bill which gives to chiro-
practors broader rights in their prac-
tice than they now possess, and pass
ed it, rs to 20. The bill was killed
votes were cast for it. An amend
ment provides that c~hiropractors may
practice in hospitals on an equal
basis with medical physicians when
they are called IN by the patients.
The house also passed the bill Gre
ating six judicial districts and provid-
ing for Is judges, there being n af-
frmative votes ione more than the re-
CURED two-thirds. While it was
measure, the bill has taken on a
somewhat different form, Is numer-
Gus independents are supporting 1t.
and several Nonpartisans are opposed
to it.
The bill now goes to the senate for
final action.
Insurance Bill Passes.
The state hail insurance bill was
enacted by the senate. Senator Wal
ter Wexford, chairman of the insur-
ance committee, explained that
changes whereby the bill makes it
optional with the farmer whether he
takes state hail insurance or not.
Other minor amendments were pro-
The bill provides for "a levy Of a
three cen an acre tax for the main
tainance and creation of a hail in
demnity fund.
The bond issue bills created no ex-
element, and except for an address
by j. F. T. O'Connor of Grand Forks.
on the ten million dollar issue, they
caused larry a ripple. The majority
members were determined to hurry
| I11CkI1 IOu6N " kA4Oy S1lu VII w
bate entirely on the five million dol
lar issue and stopped it after O'Con.
nor had delivered his address against
the other.
When the clerk had finished read
ing the five million dollar bond issue
toll, Walker Of Mercer, Immediately
moved the previously question, AND
his motion carried. The clerk started
to call the roll, and when o. B. Burt
r0e~s ~1~a4 11 ~4o0HoH tho Hron mr.
Forks county mar rose to explain hi:
vote, but he too occasion to call at.
tention to the methods Of the MAORI
ty in shutting off debate.
Burtness Protests.
II don't like the way this thint
has been handled" said Mr.. Burtness
the bill, but I think it is unfair tt
move the previous question before
any one has had a chance to say
word. 1. protest against such action
Mr.. Burtness hen explained why h
voted against the bill, giving tn
same explanation as he gave agains
the stateowned elevator measure.
In his address against the ten mil
lion dollar bond issue bill, J.. F. T
O'Connor declared that it was one O.
the most important measures thu
lcdSuc 4ldo pIOSSIlSu ILLS year. dHS
that the legislators sought to give !
very careful consideration. The mos
important fact to know, he said,. wal
what interest the bonds would draw
because h la would determine tn
rate at which this money could 'b'
loaned to the farmers of North Da
kota. The bill as amended by thu
senate says that the maximum rat
of interest is seven per cent. and thu
~o-~~k~~< rSynnkjon ;~ ~r,Hn+ 81 Nh
rate of interest the bonds will bear:
He reviewed the condition
the world. London. Paris and New
York, and gave the rates of interes
that the loans of these various coun
tries were bearing. He showed tina
the rate was from five to six per cent
and hat all but the Canadian wa,
loan mature within the next tw'
years. Then he showed that all o
these loans were selling on the MAI
ket so as to net the purchaser from
So to &C per cent He then went in
to the next big question. the Fiftl
Liberty Loan, which probably will
bear interest at about five per cent
so as to make the United States bond
sell at par. If 1t is necessary for tn
United States government to sell it
bonds at five per cent. which bond
dIc OdCACO ny uC cllIAlc IcSOu1CcS "
the country and considered the hes
security in the world. it is certain
that the bonds of the state of Nortl
Dakota under present conditions ar
with. constitutional complications will
not be sold for less than q six pc
cent rate and possibly higher.
Five million out of the school fun
Of thirty million already have beel
loaned the farmers at five per cent
he said, and there are millions in thu
state now loaned to farmers by tn
federal government at five and
half per cent. These bonds that mus
. bear six per cent or higher, and thel
pay all the overhead charges. mus
necessarily be sold at a very higl
rate. Therefore, this law is unwise
he said, and the bonds should not b
issued at time when the none,
market is so uncertain.
Under the hail insurance bill a
finally passed, all hail losses. ate
being adjusted, are assessed pro-rat
against the lands benefited, with
provision, however, that in no on
year shall the assessment exceed s
cents per acre. Some senator's wer
inclined to believe so cents not higl
enough; others thought it too higf
4 and still others believe there shout
be no limit. The reason for this re
striction as explained by the commit
tee was that some feared that II n
limit placed on the assassin
kpowers Of the commissioner of in
who will adnninister the ha,