The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-03-17
debates to the coming convention thu
following facts: NM 3i5

OeledLeS W CuS COIllllS COINCueAOAl GiiC
following facts: 5sl EI8
l. The power Of the present adj
ministration to harm this state is vir-
tually at an END It cannot run us
very far into debt as long as it is
unable to sell the authorized bonds,
and there is no sign that it will be
more, successful in selling bonds in
the future than it has been in the past.
That being the case, it can go no fur
Their than it has gone with the mill and
elevator, the Homebuilders' associa-
ton or the bank activities. The whole
program is at a standstill.
2. The power Of the Bank Of North
Dakota to harm the other banks of the
state has been exhausted, and there is
nothing more to fear from the adj
ministration in this respect. The
Bank of North Dakota is so rapidly
approaching complete liquidation. that
it is becoming very insignificant
factor in the banking situation. 1t no
longer has the power to embarrass any
banks but the so-called "league"
banks for all others have put their
affairs in such shape that they are
prepared for any demands the state
bank may make. AS matter of fact
the condition of the small banks in
North Dakota has been showing a
very steady and rapid improvement
for the last 60 days and they are no
longer worrying about what the Bank
of North Dakota can do or will do.
3. It will take from two to three
months for the situation as regards
public finances to "come to head"
The liquidation Of the Bank Of North
Dakota must continue for another few
weeks before it reaches the point
where there is nothing left but frozen
funds" and the administration will
then no loner be able to conceal the
truth. When the total footings of the !;
Bank of North Dakota reach $8,OO0,- !
600 to 5000 900 from the present mark
of $14,0OO,OO it will cease to be a
bank, and will become nothing but a !
financial icehouse, with $1,000 600 Of
''frozen assets" and $4,000 900 of |
"wind" for capital. ~
d. If recall election were held and
we're successful, the new officers would
be assuming their duties at just about
the time the states troubles were
Coming to head" The new officers
would be iven the blame for the re-
suits of all of the bad government and
economic damphulery Of the last four |,
years..
5. And the new officers. even if the
recall election were a complete sue
cess for the independents, would be
powerless to enact any new legisla-
ton and get it into effect in less than
wear. They would have to work with
present laws and take all the blame
for past mistakes for an entire year
before they would have an opportun
ity to put their own plans into effect.
From the foregoing, it will be seen
that no further permanent harm can
come to the state by delaying a recall
election. We can always raise enough
in some way to keep our prison
and insane asylum open, and the pres
emit administration is powerless to I'M
dermine the real prosperity of the
state further. It can't pass any more
Jaws; it can't destroy the fertility of
our soil; it can't plunge US deeply in
debt unless it sells bonds; and it can't
harm any more banks or financially
embarrass any more individuals or
4-
Moreover, the recall election GER
tainly cannot succeed unless the in
dependent voters of the state are
united in it's favor. The Forum be-
lieves that they are united as never
before, in their desire to "make a
clean job" of our socialistic debauch
but they certainly are not united in
the belief that the time for the house
cleaning has arrived or. that the re-
call is the way to 60 about it. I'm
loubtedly there are enough staunch !
voters who question the
wisdom of the recall--not as matter
If principle but as a mere question
If the. wiser policy-to make it's sue
cess doubtful. That being the case
t would be folly to risk the fight at
this time. -
Therefore the Independents can we'll
afford to emulate the administration
and "sit tight" 1t is "their move,"
lot ours.-Forum. ,,.. Il
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