The weekly times-record. (Valley City, N.D.) 1912-1922, 1921-04-07
fact before very long because things
are going to right themselves.

fact before very long-because things
are going to right themselves.
WHY NOT SELL OUTRIGHT
Mr.. Burdick, president Of the North
Dakota Farm Bureau federation, sug-
gests that the state mill and elevator
at Grand Forks be completed and that
it be leased to the national sales
agency which will be part Of the pro-
posed cooperative marketing plan.
Strangely enough the league organs
appear to be quite friendly to the idea:
which isn't new by any means.
Provided the new organization is es-
tablished on a substantial basis, the
better plan would be for the state to
turn over the mill and elevator to it
entirely. If the new mill and elevator
are due to make big profits, let the
members of the new cooperative as
ISOLATION reap all Of those profits and
assume all Of the responsibility. As
it now stands, there are many taxpay-
ers in the state whose property has
been conscripted to build this mill and
elevator. They have been taxed and
bonded, despite their vigorous objec-
tons, for the purpose Of engaging in
a business in which they do not want
to engage. That isn't the function OF
government. Perhaps this business
NAV be in open competition with the
taxpaver's own business. The little
-four miller. for example, is being tax
ed to raise capital with which to open
state -four mill designed. to drive
| the private miller out OF business. VI
course there are very few millers in
the state, but if we drive the millers
out, why not then proceed to drive out
the retail merchants and the bankers:
and finally the farmers themselves
with state owned enterprises! That
! is the ultimate end of socialism, theor-
retically. In practice, the state own
ed enterprises are always operated by
gang of cheap politicians, and lose
so much money everyone gets disgust
ed with them.
But If the farmers want to cooper
ate voluntarily and lease the state
owned mill and elevator why not go
step further and let them buy them
outright on any terms they want to
make? Why not just take our loss as
a state, and get out from under!
If the mill and elevator are destined
to be as highly successful as the advo-
Gates of the league program believe
then we would like to see tn efarmers
themselves get these profits.
And if the mill is going to lose
money in proportion to the amount
lost at the tiny Experimental mill'' at
Drake under state management, we
would not like to Sc the state stuck"
for the amount.
By all means lease the new mill and
elevator-when finished or if finished
to somebody. Lease them to almost
anybody, instead Of the gang that has
been handling them to date, but if it
is possible to sell them instead Of leas-
ing them, do it.-Foruna.
WHY N. D. BONDS DO NOT SELL
A letter circular sent out by the Ma
tional City Bank of New York deals
entirely with the North Dakota politi-
cal situation. 1t says in part:
There has been more politics to the
square mile in North Dakota in re-
cent years than in any other part. of
the country. The state was moder.
ately excited in the years when the
nonpartisan league was forming, and
fighting its way to control of the state
government. but its attacks were di-
rected mainly at such distant and i'm
personal enemies as Wall Street, the
Minneapolis Chamber of Commerce
Big Business and the Money Power;
but since the League actually came
into power and began to do things the
fight has developed into hand-to-hand
knock down and drag-out affair at
home, and largely between factions
within the nonpartisan camp. There
is not much lambasting of PARKWAY
foes, except by way of emphasizing
the necessity of suppressing dissent
ers at home. ''' s
Of late a story has come forth of
the good. old type, telling that the
Money Power was. attempting to
strangle the New Freedom movement
in North Dakota by refusing to buy
Sc ,OOO, 900 of North Dakota state
bonds which had been offered in east
ern markets, except upon the condi-
ton that the league program of state
owned industries was abandoned.
The fundamental reason why the
4NCfLl DdhOtd OO1Iuo oIS 4OC OCAHS
readily sold, is. that bankers are
afraid they cannot sell them. Invest:
ment bankers buy bonds in the capa-
city of merchants. to sell again. They
try to buy issues that they think will
be popular with the public. They do
not think the news coming out Of
North Dakota about the administers
tion of the state government, the fin
ancial policies Of the state, the in
crease of taxation and the general
state Of politics in the states, as re-
ported by Mr.. William LANCER and
Others. is calculated to make coed
market for the bonds.
Nobody doubts the solvency Of the
state of North Dakota, or the integ-
rity of the great body Of it's citizens
These bonds are said to have been
passed upon by the Supreme Court Of
Che state, and presumably are valid
but there is evidence that the Offices
Of the state are not being well man
aged People are not quite sure what
the policies Of the present state au-d
thorities might be If they should be
retained in power. It has been point