Emmons County record. [volume] (Williamsport, D.T. [i.e. N.D.]) 1884-current, 1921-02-17

SA~
the System at every turn and corner.
Eventually the rising power of pub
lie opinion put the representatives of
that vast body of farmers and labor
ing men in power who demanded re-
lief. Whereupon the vast, illimitable
resources of the commercial autocra-
cy of not only the state, but the nation
were unleashed to checkmate the idea
that private privilege was not abso-
lutte.
The state through the legislature
and the Industrial Commission organ
lied a state mill and elevator system.
The state organized the Bank of
North Dakota; a bank whose prime
motive was service to the people at
large, rather than mere profit making.
The bank was designed, primarily, to
serve two purposes; first, to liquidify
the credit of the state so that its flow
could be adjusted efficiently and cheap
ly to those regions where it was most
demanded; in other words, to see that
the stream of credit flowed where it
would do the most good for the great
est number. The other purpose was
to provide a better system of rural
credits; which it has done.
By concentrating the power of pub
lie funds, usually lying dormant in
private institutions serving rarely
more than the purpose of petty pri-
vate graft, the bank was enabled to
increase the efficiency of the credits
of the state immeasurably for the
benefit of the people.
Private banking interests, not only
those of North Dakota, but those of
the Twin Cities and the nation at
large, saw an immense danger in the
Bank of North Dakota. It could not
be permitted to succeed. It not only
tore down the false tradition that the
private banker was absolute over the
credits of the nation. 1t struck at his
private profits. For the first time in
its history, the State of North Dakota
was on it's way to something like in
dependence from the Twin City grain
banking combination which had held
it down for so long; which, dictated,
as it were, the fate of practically ev-
ery inhabitant of q great common
wealth.
The System works through politics.
Consequently hungering pack of
politicians was unleashed. They pro-
ceeded by devious means-through
misrepresentation, lies, ibel-to strike
at the confidence of the people.
They concentrated their efforts on
the Bank of North Dakota. Upon the
milling program they dared not dwell
The people knew what they wanted in
that regard, The system knew that
if it could destroy the Bank of North
Dakota, the states industries would
return to complete dependency upon
its whims; because it is the credit
structure of the country that is the
mainstay of the System.
BLOCK SALE OF STATE BONDS
BY TACTICS
!. To repeat, one motive was back Of
I the never ceasing campaign. Thai
motive was to destroy confidence il
The Bank Of North Dakota.
The various peaks Of the politica
conspiracy dictated by the System ar
, easy to trace.
: The first outstanding peak is tina
famous incident whereby politician
: endeavored to wreck bank in Farg'
lone Of the large institutions patron
lied by farmers and their organiza
tions. It was not that particular banl
! which the System cared SO mucl
! about; but it was hoped by that clos
1 ing to cast some discredit on TIL
: Bank Of North Dakota. The recor
8 is clear on that point, however, SO ia
n as the people Of North Dakota ar
i concerned.
z So far as the people Of the natio
living outside Of North Dakota's boz
e, ders are concerned, the story is dit
! ferent. Millions Of newspaper read
: ers gained the impression that it wa
the Bank of North Dakota itself ths
It had closed it's doors. Such an impress
e sion was merely question Of skillfe
q propaganda exercising the art Of, il
: nuendo.. What mattered it if tn
= Fargo bank itself reopened its door
The object had been achieved. Pr
ID paganda has skiilfully linked up ii
,f name Of The Bank Of North Dakot
/,