The Elk Mountain pilot., 1921-02-03
FOR A FINAL SHOWDOWN

The last week has seen a most re-
markable occurrence. Six months ago
the newspaper organs of the exploit
ers and their political agents and
spokesman on the platform were pro-
claiming that the only way to insure
prosperity and lower the cost of liv-
ing was by increased production. In
creased production was the result.
Three months ago word was sent
out thru the Federal Reserve System
that the time had come to debate.
Just why defation was necessary was
not explained, but the spokesman ct
the plunderbund announced that the
time was up. Credits were every
where withdrawn and this was es-
pecially true of the smaller indus
tries, the smaller merchants. the
smaller banks and the farmers. None
of these were represented in the in
ner circle of the organized grafters
who control the organized credits of
America, if not of all the earth.
The attack on established credits
of the whole country was made es
pecially severe and uncompromising
in the state of North Dakota. When
North Dakota established it's own
state owned bank and pledged the
state credits to the creation and
maintenance Of certain state owned
industries, the word was sent out
that these enterprises could not be
financed. The usual bond buyers sent
their representatives in great num-
bers to North Dakota, asking for ex-
elusive options in the handling of
the bonds. 1t was suspected that
possibly there was the sinister pur-
pose in this, of getting control of the
sale and then preventing the sale.
Exclusive options were not given, but
the sale was held up just as effec-
lively by another process. Action
was commenced in the courts, organ
lied. financed, and attorneys employed
from interests outside the state, to
take these Industrial laws into the
courts on the ground of their uncon-
stitutionality, and then to proclaim
to bond buyers everywhere that it
would be unsafe to invest in bonds
held up by litigation
The United States Court, however,
decided that the enterprises were
constitutional and that the bonds
were in proper form; that there was
no legal reason why they should not
be marketed.
But the bond buying agencies had
entered boycott and the effort to
sell thru the usual agencies was
without avail Activities were linn
tied, construction work suspended
and the proclamation made that pub
lie ownership was failure.
Following this, the most vicious
campaign within any American state.
organized and financed by great pri
vate interests outside of the state.
made an effort to capture the author
tiles of the state by the pollution of
its ballot-box.
The Nonpartisan League of farm
ers and the trade unions retained
control of the Upper House, of most
of the state offices, of all the author
tiles concerned in the industrial pro-
gram, and lost by only few votes
in the Lower House.
The enterprise which had been es-
pecially blocked by these tactics con-
sisted of an effort to finance home
builders that those who cared to OWL
homes and farms of their own might
be financed in their undertakings,
without being victimized by land
gamblers and mortgage sharks. 1t was
an effort to furnish farm credits at
cost and to extend credits on ware
house certificates in the marketing
of the annual harvests and finally, by
entering the field of warehousing the
harvest and of milling at least some
portion of it, to break the power of
the grain gamblers.
Proceeding in the same effort in
other states, and waging war at all
times more viciously in North Dako-
ia, credits were denied farmers on
any terms, with millions of values
ready for the market, credits were
viciously and continuously refused.
Mortgage foreclosures threatened,
sheriff's sales used as arguments, the
smaller banks pushed to the wall, and
with ample assets compelled to close
their doors.
Now the Legislature is in session
and the representatives of the inter-
national Wall Street syndicate have
come to North Dakota with an ulti-
matum. This is the group Of men
who took advantage of the worst dis