The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1920-12-06
STATE POLICY
TO BE TALKED Z.
AT CONFERENCE
National Aid May Be Requested
by Bankers Who Meet
Here Tomorrow
BANK POLICY ALSO UP
Judge Robinson Holds Can't Be
Successful Under Present
Organization
BANK POLICY ALSO UP

Bankers from every part of the
state are expected to come to Bis
marck for the conference Of bankers
called by O. E. Lofthus, state bank
examiner, tomorrow. =,
Probability of the discussions Of the
meeting taking a broad scope has in
creased interest among bankers and
others who are closely watching the
results of the conference. The meet
ing was called by the state examiner
after the executive council of the
bankers association adopted resolu-
tions offering cooperation in seeking
solution of present problems.
There is a feeling among many
farmers in this part of the state that
Congress in its session which opened
today can do much to aid the agricul-
tural and banking situation of the
country. Farmers believe that imme-
date action ought,to be, taken to pre-
vent the influx of Canadian wheat and
other products. The dumping of mil
lions Of bushels OF Canadian wheat
into the United States Immediately at
ter the harvest has been declared by
some authorities to be responsible in
part for the depression Of wheat
prices. %
Situation Changed
The resolution Of the industrial
commission authorizing the Bank Of
North Dakota to refuse to honor drafts
made upon it for funds by public treas
urers is held by many bankers to be
unwise in that it is tantam0unt to
Offering to the bank the power to re-
fuse to pay debts while it can draw
upon banks of the state for money
There are many who believe it will
complicate the situation, although
/. state officials believeit is solution to
the problem presented with reference
to the distribution Of funds. ~ X
There were reports today that an
effort would be made at the ne citing
tomorrow to get through resolution
skiing the Governor to call special
session of the legislature to repeal
the initiated law. If a move Of this
sort should be made it would be con
strued as political by many banker
|; and probably would open up general
discussion of the organization and
policy of the Bank Of North Dakota,
'rhe Saturday Evening Letter of JUS
tice J. E. Robinson opened this sub
ject, which is expected to occupy some
time of the coming session Of the aegls-
lature.
Z RObinSOn'S View
Justice Robinson takes the view
that under the present system OF Or
ganization the bank cannot be a sue
cess. He says:
"To restrain and curb exploitation
and to promote the general well
fare of the constitution Of North DakO-
ia permits the state and each county
and city to do business the same as
natural person The state has rlgEi
to make wealth, to do banking, mill
ing, manufacturing or any business.
The Bank of North Dakota has been
legally organized, but under the law
of it's organization it is not, and 1t
never can be, a success. It is subject
to political and administrative con-
troll and it may we'll be used as a
political factor. Hence, the clamor
anu lIlc SOlc lUl JLS A'N|
even though the bank were examined
every day 1t could never be above
suspicion. TO make the bank sue
cess it must be reorganized and put
on the same plane as the Federal Re-
serve banks. 1t must be made. cor
rorate entity with public directors
and private directors and responsible
stockholders.
"As everyone knows in the public
service, even in the administration of
Justice, there is no efficiency. The
public servant will steal his time and
20 afishin' and leave his work un-
done. There is no supervision, no
control and nobody seems to care.
TO make public business a success it
must be linked and united with pri-
vate business and PERSONAL gain or
loss. If there is to be-a special ses-
(COntinned on Page Two
EE1 MATT Void DI