Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1920-12-23

Any fellow who is alive at that age
would probably need it, wouldn't he
The league papers are gloating over
the fact that the bankers of the state
are trying to help straighten out the
financial mess the nonpartisan league
has made for us through the Bank OF
North Dakota. They forget that the
league brought the Bank of North
Dakota troubles on US. If there had
been no Bank of North Dakota the va
rious community public funds would
have been resting in the various local
banks, as of old, and there would be
no danger Of upsetting conditions by
drawing funds from one neighborhood
to pay off obligations in another.
The Bank of North Dakota has Civ
en- the league administration won
derful whip over the bankers of the
state. The mistakes of the admins
tration must be met, and the bankers
are finding it up to them to try to
straighten the mess out to protect us
all.
Townley and all his gang promised
many things when they were solicit
ing votes for this bank. They prom
Used cheap money on real estate.
They promised the farmers money on
storage tickets so they could mold
their grain. They promised to "sta-
Billie Credits" whatever that meant.
And what have they done? Their re-
cent statement shows less than 49,,
100000 loaned on real estate. 1t
shows less than $121,OOO loaned on
warehouse receipts. And the "sta-
bilizing of credits" has been some
performance. Many of their real
estate loans have gone to non-resi-
dents. Active league workers have
been rewarded with inflated loans.
We find loans to banks nearly as
'arge as loans to farmers. Until the
present examination is completed we
cannot say what sort of banks re.
ceived those loans. But it is a fair
guess that the Townley line of banks
have been handsomely treated in this
respect.
The Bank of North Dakota has beer
able to do wonderful propaganda
work for the nonpartisan league
Cathro has put out a long -windeG
monthly bulletin of an official-looking
nature teeming with campaign dope
for the league. Many faithful
leaguers have been rewarded with ex.
cellent positions on the banks pay.
roll. Many bankers have been brought
to thir knees politically through de.
sire to connect with some of those
public funds under Cathro's control.
The funds of all the school districts
townships, cities and counties have
been massed in this bank and redis.
tributed to suit the whims of the pc.
litical masters of the bank. The dis.
tricts, etc., have been robbed of much
of their old interest rates, in cases
amounting to fifty per cent. Favor.
tie banks have been favored financial.
ly. And what has the average citi'
zen of the state received in return
Nothing.
And what is their alibi? OF course
they have one. They say forty-twt
taxpayers tied them up with a law
suit in federal court SO they couldn't
sell their bonds. But that suit was
decided last June, and they haven't
sold their bonds yet. And-if forty
two taxpayers can stop the sale Of
those bonds in that matter, then the
league has demonstrated that all bust
ness cannot be run simply by paying
dues to organizers and voting accord
ing to instructions.
The Bank Of North Dakota was 6
grievous mistake in the first place
But the majority Of the people made
it possible. Now, it is up to US tt
save as much of the wreck as pos.
sible. Bankers, business men ane
farmers must cooperate to the end
But the bank is only forerunner Of
greater disappointments to come
without doubt. However, this is {
democracy, and the majority rule
And if the majority want to monkey
with industrial dynamite, it looks like
we'll have to get in line. However
they can't prevent us from fighting
to check the dangers, until the die i,
cast. And that's all the Record hal
ever tried to do. Once make an,
scheme a law, and we'll obey it a.
best we can.
Linton nennla Were startled To 70