Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1921-08-19
Daily Papers Tell Us That
Townley and His Gang of Pol
iticians Are Laying Plans on
Making Wisconsin T h Ell r
Stronghold After Next Elec-
ton

ton
f. H. Farley, Of Wayne n. D., who
is visiting in Ladysmith, tells us his
version of the NOn-Partisan League
Of North Dakota as follows:
Mr.. Farley has lived i'll North Da-
kota for fourteen years having mo ed
there from Iowa He watched Town
lev come to North Dakota and would
like to see him and his gang leave
The Non-partisan League is the only
political party he ever saw that intcr-
feres with citizens private affairs and
works against and bOycOtts a man who
does not belong to them.
In bulletin Mr.. Farley gave rs
IN North Dakota bonds, business, and
politics. a brief statement of facts
relative TO state bonds now being Of
| fered for sale is made.
This bulletin - sponsored by The
/ republican ahd democratic state or
CARNATIONS and the independent voters
association We quote a part Of this
bulletin as follows
Public Funds Misused
The Bank of North Dakota required
all public money to be deposited with
them, and authorized the industrial
commission to transfer the money in
any one fund to any other fund.
Under the protection of this provis-
| ion the industrial commission has
made thirty-year real estate loans.
many of which are in excessive
amounts and to political henchmen, to-
| falling $2.S00,000, has loaned to the
mill and elevator project, S1,000,O0O.
| illegally spent large sums in building
| homes for political pets and has now
on deposit and loaned to questionable
and inSOlvent banks large sums, so
| that at this time practically $1,000
| 600, including sinking funds of the
various political subdivisions of the
state is diverted from the purposes
for which originally intended and is
tied up for indefinite periods.
Big Loss Inevitable
The bulletin states that big losses
of several million dollars is newt
able. The loss in the -four mill at
Drake in one years operation is adj
mitted to be about as much as the
original cost of the mill.
Sinking Funds Unsafe
The law providing for the redemp-
ton Of bonds now offered does not re-
uuire the establishment of a sinking
fund until the last five years before
their maturity nor under the law is
this sinking fund required to be intact
but up to the very day of the matllr-
ing of these bonds now being sold the
tax money accumulated for the pur-
pose of redeeming them may, by the
state industrial commission be tied up
in other enterprises such as mills, ele-
vators, and packing plants, thus rem
dering the final redemption Of these
bonds at maturity exceedingly uneer-
| tain.
Taxpayers Have Wrong Impression
The socialist administration leaders
| have led the people to believe that The
bonds of the industrial class and the
Bank or North Dakota will be paid
principal and interest from the profits
of the state owned industries. There
are no profits and it is feared that the
tax burden that will be required to
/ retire such bonds will be heavy and
may materially affect the security.
This fear has caused large bonding
houses to reject all overtures made by
state officials for the purchase of
these bonds.
The people of North Dakota are not
solidly behind the state bond selling
program.
Frazier's vote for governor five
years ago gave him 67.314 majority.
Last year it was reduced to 1900. out
of total of 229.0O0 votes. including
women, while at the last primary
election initial and referendum meas
ures strenuously opposed to by the
| Non Partisan League were carried by
maj0rities from 5000 to $4,000 votes
A Recall Election
/ Now the democrats and republicans
have gone together on recall election
as result of the disclosures brought
about by the investigation of the Bank
of North Dakota during the past win
ter pursuant to a law initiated and
carried by the opponents of the Non
Partisan League and a recall OF the
members of the industrial commission
which comprises the governor. attor-
ney general, and commissioner of ag-
riculture and labor. has been deter
mined on and the election which will
be held about Nov will carry strong
for the independents Mr. Farley
thinks. as they have 6S.S50 s;gners TO
their petition now and arc getting
more every day.
AT the same time there will be sub
mitted to the voters Of North Dakota