The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-03-31
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EDITORIAL


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At Devils Lake today the indepen-
dent convention for the purpose of
considering the recall question con-
venes at one o'clock. There are be-
tween five and six hundred delegates
elected to attend this convention from
every part Of the state and the gath
ering should be representative one
in every particular. So far as can
be learned the delegates so elected
are in a majority of cases uninstruct-
ed and it is hard to figure out the out
come of the convention. The sentl-
ment on the surface so far as we can
find out, is against the recall at this
time. but YOU never can tell what
convention will do, especially If some
of the spell binders get to hynotizlng
the bunch with their eloquence. NO
matter what the outcome of that con-
vention may be, it is up to the forces
of good government to get behind the
action of the convention. If it is a re-
cali, then let's put it over. If it is no
recall. let us abide by that decision
gracefully and lend ali our efforts to
securing the best possible showing
for the next general electlon'
No man need lack funds to conduct
business according to }. W. Br1nton.
If you want to capitalize your business
and clip interest coupons just issue
notes signed by yourself to the amount
that you feel is right, place these
notes in your vault for one year then
at the end of that time go into your
vault, take out the notes and collect
the interest for yourself. 1t is very
simple, isn't it. Well that is the way
the manager of the Bank of~North Ia,
kota did business-or the industrial
commission. They issued two million
dollars worth of bonds which the state
bought, deposited these bonds in the
bank for which no money was paid by
the bank but two million dollars was
taken from the general fund Of the
state to pay for same, these bonds
we're then placed in the vault to draw
interest and at the end of year the
manager of the bank took pair OF
sharp scissors and went into the vault
and clipped off the interest coupons and
then but down on the books Of the
bank about $4,000 interest made
from bonds it never sold and which in
terest was paid from the money of the
people of the state-the bonds not be-
ing really sold. This financing has
Ponzi beat mile we will tell the
world. 1t is easy to make capital and
profits that way.
Congressman Young, of Valley City
in addressing the Zach-Chandler re-
publican club at Lansing, Mich, last
night said: "Good times will not re-
turn until the purchasing power OF
the farmer has been restored. We
must not overlook the fact that one
third of our population are farmers:
said Mr.. Young. They are normally
big consumers. The purchasing pow
err of the farmers will not be restor-
ed until three million men now out OF
employment are profitably employed
and until we prevent the dumping, OF
farm products from every part of the
globe" Discussing a permanent tar
if measure, Mr.. Young said the most
difficult problem was to fix rates of
duty sufficiently high to afford, pro-
lection against products of countries
whose exchange and labor wages
were extremely low. Imposition Of
duties upon the basis of American
valuation, he declared, would help
neutralize this trade problem. Assert
ing that the emergency tariff measure
would be precisely as vetoed. Mr..
Young said: I'm sharp contrast with
Secretaries Houston and Meredith,
who could not get the farmers view
point and who advised President Wll-
son to veto it. are Secretaries Wallace
and Hoover, who have taken a pro-
nounced stand in favor of saving the
American farmers from bankruptcy
The message of President Wilson, We
toing the Fordney bill, carried the idea
that those supporting it did so in or
der to furnish relief to certain pro-
ducers who have been unable to dis
cover satisfactory markets in foreign
countries and whose prices have fall
en- the real purpose was to furnish
relief to those who had been robbed
of their home market" Mr.. Young
contended that it was not a question
of profits for farmers. but Of saving
the farming industry from destruc-
ton. Declaring congress could not
follow the oft-stated republican prin-
ciple that the tariff should measure
the difference in cost of production
at home and abroad especially in alb
normal times, Mr.. Young insisted
that the tendency of American costs
would be downward and the foreign
tendency upward. eve must antici-
pate these cost adjustments and hold
down the rates of duty" he added
"otherwise they would be much higher
than the Payne-Aldrich rates. Most
agricultural products now are on the
free list and are consequently the
hardest hit" ...
AND GEORGE WILL DO 1T
Congress has paid Representative
George NJ. Young of Valley City
high compliment in placing in his
charge the new emergency agricul-
tural tariff bill that will be introduced
in the extra session which begins next
month, and North Dakota is most for
tunate in Mr.. Young's selection, for in
oil tho wars tho Va11ov Cifv man has