Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-03-18

ca0.eS04 S0t0@0a00fS pEe0o68 000S
dleonh. ADt, ASeAS hyre In Grand Torlkk.
pie of gafxnA FefEsfef MT buy1n1s
Mill and Elevator bonds, Tor you Just
rtcsntly Gotsyourt On this so6rs frtm
ofgthel stAtssAh cnAirmah 81 onr m
laustriai Comminio Our floating.
debts, which are floating cakes OF ice
called frozen sAssetA are not large,
probably n0~ty16T3oxtend four OF i've
fhiiilens, ana An due tirne,-kentle.
men therA ID no hurry about IT.:
It, VIM ~ refuadsd tntD bonds, and.
the bonds vim then b bold outslds
n state. and meanwhile, the status!
payers. South Dakota, which 10 neaf-'
er y area ana population than any
other state has more. than $4,000
00o.o1 Of bonded Indebtedness be-
sddeesA large floating debt, and South
Dakota u In good financial condiuds
,too/
So Natural Laws Govern. o.
we are not worried 1t al over our
INSTRUMENTATION, and We should net
look Q much for relief from man
made laWs, for natural law. whtoh'
news - suspended, - working the
our. 1nd isldoin9 !. better Joy. '.Ths
.4I&Hs0 XEk1xW V&VWty fU4k skS0y
griAq exceedingly fine. meant when
written by Lonefellow, andsfneans to-
day thai laws passed * BlsrnArck
g.: Paul, Washington; London n sBpe.
lin are puny ana t~neffeetuAl COM
pared with Divine law which 7ruleS
and governs the. Universe, North DaS
kotA included. one-of the IAnst dig,
~colfxgin8 and most dangerous tend.
enties IN. modern political thought
and action lis to seek governmental
Aid to promote. ana foster private
business. which al history ana all ex-
pefience> have proven over and over
Again to be most wasteful andfextra.
VACANT. TheySwould put the govern
r1ent into business, even thotEhc We
can see little or no business 1nethOd
or business ability In government.
Thus. instead Of f~urniBhing any real
lasting remedy, We only ;Asgrxvate
our business problems ana difficulties.
The Best Governmsne,i
"such people seem to have forget
ten or never seefnSto have known the
truth of the world-olA adage that that
form of government Is best which,
governs least, and that government
Performs its full function and full
duty to private business when It guar
equal rights to gil and Spec
ial Privileges to None. 1s2
Lincoln defined the safe ana true
road to duty. happiness and PROSPERITY
In the following simple words:
1.-The prudent penniless beginner In
the world labors for wages for.rawhile,
saves surplus With which to buy tools
land then labors for himself for
another while and At length hires
another new beginner to help him.
This Is the just, the generous. and the
prosperous system which opens the
way to all, gives, hope 10 all, and con-
sequent energy and progress, and i'm
provement of condition to ALL II
What . pity that these words. clear.
~ lettered In bronze, and solidly set
the walls OF the chamberH Of Cong
ress. in our Legislative halls at Bis
Warck, and in every other State Cap
itol Of Our Country! II,
i Credit TOO Easy.
Now Tam going to say something to
you credit men which may or may not
1t just the same. even at the risk Of
offending you. You are not entirely %
blame; in, fact, your sales Departments
are mere to blame. than the credit
departments III the cnpcernBf that are
doing business inasNorth DAko&x; 70
take. this message to them as coming
from one who prior TO sixteen yAxte
ago, when he came to North Dakota
to engage in the banking buatneSR
vas Sales Manager for an Implement
manufactures in st. Paul: and he
going to say Is that credit has been
and still is altogether too free and
easy in North Dakota BY extending
credit too freely you are maintain
ing In business an Incompetent crew
OF retail merchants who in their own
interest, and in the interest Of your
houses, and more especially, III the
interest of consumers, should. he. fol-
lowing the pillow Or working for.others
instead of trying to operate stores.
Charles Dudley Warner, In one Of his
delightful books, makes the state
ment that 1t Is an easier job to be a
king Of a canntbal island than to run
q grocery store, and then he proceeds
to prove it by comparing the duties
and responsibilities OF the two Jobs.
The result Of maintaining incompe-
tent men in the retail merchandising
business, and those with insufficient
capital or experience, Is poor service
and higher prices to the public. losses
to wholesalers and manufacturers,
who In turn add these losses to their
cost Of production, SO that they, are
ultimately, paid by the consumer, with
no compromising benefits or adyant-
age to the retailers, except to burden
them with duties and responsibilities
which they are wholly untitled, to
bear. When I e orr hear of the
heavy, lon~g-extended and injudicioua
credits extended by you wholesalers to
store keepers of the type referred to,
I wish that some of you fellows would
come to Valley City and open a groc-
cry score. If you will do this, I2prom-
Use to open an account with you on
your opening day and give you all
my trade. 1t Is easy enough to aex-
tend credit safely and prudently in
times like these. when credit is scarce,
but 1t u in the so-called good times,
the times of so-called but misnafned
prosperity. when credit IL free>And
easy and every body Is plnn9tng into
debt, that credits need to be guarded
with the greatest care. I am very
coafident that many Of you gentlemen
after looking your accounts covering
credits extended during 1919 and
1890, would feel that You are mo-
credit men at all, ana ?tha~ttainstead
you have been q bunch&of Rubes. !
have 2 notion to quit the, banking
Business and g into tho collection
business as q dde line, and then III,
q lot Of claims from you, Wholesalers
and ] could buy some OF them cheat
too then put special time and effori
ION them In turning them into cash
There. would be much moro, profit II
Il than there ID in bankinst
better Times Coming.
ION New Years day . customer
mine. after the usual greeting. re-.