The Bowbells tribune. [volume] (Bowbells, Ward Co., N.D.) 1899-1969, 1921-05-06
NORTH DAKOTA GOES
TO THE PEOPLE

"The banking interests hav-
ing refused to handle the bond
issue. North Dakota is writing
a new page in our financial
history by offering it's bonds
directly to the people. The
Nation, April 13.
That is precisely wat the Indus
trial Commission of the state of
North Dakota is dong. The fill
anciers having refused to buy these
bonds, the bonds will be offered
directly to the people. Those who
are friendly to the North Dakota
industrial program should lose no
these bonds, and inducing their
friends to do likewise.
The bankers, in refusing to han
die or sell the bonds of North Da-
kota, base their refusal on no ques-
tion of security or validity. They
freely admit that North Dakota
bonds are second to no other state
bonds. both in point of safety and
the amount Of interest paid.
The bankers have refused to sell
North Dakota bonds because they
are hostile to the public ownership
policies of the people OF North Da-
kota. These policies include state
ownership of a central bank. Il
-four mill and terminal elevator and
a program Of home building and
state insurance. This is not rad
ical program. Other states have
state-owned enterprises.
The Bank of North Dakota is the
only state enterprise that has been
fully organized and has undergone
a fairly complete test under the
most trying circumstances of legal
interference. political opposition
and financial deflation. In spite of
these handicaps, it shows a net pro-
fit of over 100000 for the twenty
months of it's existence ending
March 80. 1921.
which was purchased by the state
in 1919, pending the erection Of a
larger one, made a fair, profit above
expenses. and succeeded in paying
the farmer 12c per bushel more for
his wheat than he had been receiy-
ing, and selling -four Tor soc less
per barrel and feed at $3.50 less
per ton than the price charged by
had an influence far beyond it's
milling capacity and will save farm
ers and consumers tens of thou
sands. Of dollars ANNUALLY.
Owing to the fac. tnat The sia:e
mill and elevator project at Grand
Forks is now at 4 standstill for lack
of funds, after an investment OF
100000, it has been decided to
offer the mill and elevator bonds to
the farmers and business men Of
the northwest. The sooner these
bonds are sold, the sooner will this
great project be carried to compile
ton. s . .---5 -5
The mill and elevator bonds
yield per cent interest and are
exempt from all taxes including
federal income tax. They are
backed by the good faith and cred
it of the State of North Dakota,
with its population Of 65O,000 and
one billion six hundred million dol
lars worth of taxable property. The
state owns seventy-nine million
dollars worth of property, and its
total outstanding de3t is only 5247,-
000-a figure that is unique as
near the lowest indebtedness Of any
state in the Union. 1T is less than
the state sinking fund. which at
the present time is $333,151.37.
The above Indebtedness does not
include the $2,000.O0O Bank of
North Dakota bands that were is
sued July l. 1919.
Anyone wishing to purchase
State of North Dakota Mill and
Elevator bonds, should write at
once to The Bank Of North Dakota,
Bismarck. North Dakota, and full
will be supplied.