Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1921-02-23
BANK WRECKfRs Will NOT
SUCCEED IN NORTH DAKOTA
u. S. Senator-Elect E. F. Ladd
Sums Up Situation ID 4 Few
Words

!
keen interest the people Of the east
feel in recent developments In North
Dakota in telegram received Thurs
day by DR.. E. F Ladd United States
senator-elect The telegram follows:
Telegram From New York Globe
FEB. Is. 1921.
"E. F. Ladd:
"'The people of this section are
greatly perturbed by reports OF the
North Dakota situation. Most news
reports imply Non-Partisan program
has practically wrecked finances Of
the state and that the bankers called
in to rehabilitate banks have success
fully demanded drastic revision of
NonrPartisan program. New York
Globe, which viewed with utmost
sympathy original plan for ameliorat-
ing conditions Of farmers urgently in
vites you to send 600 words by press
rate collect on exact financial situa-
tion in North Dakota at this moment,
stressing following points: l. Has
Non-Partisan policy departed from
sound banking principles! 2. Have
you any criticism to make Of private
banking interests in connection with
this whole matter? 3. What il exact
relation Of A. C. Townley to entire
situation? Any other comments keen
ly appreciated.
BRUCE BLIVEN, Man. Editor.
New York Globe"
| In reply Dr. Ladd made the follow.
ing statement which appeared in the
Globe Friday:
Or. Ladd's Statement
Feb. 10, 1921.
Bruce Bliven, Editor.
New York Globe,
New York, N. Y.
Farmers agricultural and indus
trial program of North Dakota will
| be continued by the farmers and
their supporters as developed by the
Non-Partisan League and In the end
the farmers will be victorious in &C.
curing better marketing facilities.
better living conditions and q rea-
sonable profit On their years bust
ness The banking policy approved
by the Non-Partisan League %. now
conducted is sound. The Bank of
| North Dakota has five times the legal
reserve required under the banking
laws of North Dakota. No banking
institution in the state is on a sound
er basis.
"The question is-have the people
of North Dakota the right to develop
banking system for the benefit of
her people or must she be subser-
Went to private banking interests
within and without the state?
approximately 60 per cent of de-
posit funds used in banking belong to
the farmers; hence, they should not
be at the mercy of private greed with
scarcity of liquid funds when the
money is most needed to move the
farmers crops and place them on the
market in an orderly fashion. In my
judgment the private banking system
and financial interests are fighting the
farmers. program and are back of
the present attack and adverse ad-
vertising now being given the state.
''Townley is one of the three ma
tional committeeman Of the Non-Par-
tisan League and is supporting the
farmers at Bismarck, aiding and dir
| ecting the efforts of the. League. l
predict there will be no compromise
and that the farmers will in the end
win but not unlikely there may be
some shaking of the very foundation
of the private banking institutions in
the near future brot about by the pol
icy of defeat or destroy ct any cost
the farmers program a. adopted by
the enemies of the farmer movement
for better marketing and living con-
ditions and the placing OF American
agriculture ON a sound basis with
other industries of this country. Just
back from Kansas City.
e. F. LADD, Senator-elect."
Birthday Party
Last Saturday afternoon Mrs. w.
| Ruddv VOW nfoo1v Amtov<o In n