The Sisseton weekly standard. (Sisseton, Roberts County, S.D.) 1892-1929, 1921-04-08
Nails
Falsehoods
Continued From Page ~

case, except for the temporary dis
ruption of the system by the enact
ment of the wholly foolish law with
regard to the withdrawal of public
funds. The so-called s.socialistic"
enterprises themselves are entirely
solvent. 1t is true that there have
been some losses: but these have
been such as, under similar condi-
tions, might at any time have Deen
suffered by private enterprises. The
principal one of these losses was in
Cured last summer on grain inven-
tories which affected thousands of
private milling enterprises with at
least equal seriousness. The COM
bined balance sheet of all state in
dustries shows that from the time
they began operations to the third
of last December they had made
net profits of more than $4,000,
which is 1875 per cent annually on
all moneys expended. The Bank of
North Dakota, as of that date, had
undivided profits in excess of $780,
900 after bonds, repaying all appro-
priations used, and carrying 100000
to paying 5 per cent annum on its
surplus. This, according to an audit
made under an authority admittedly
hostile to the Bank.
1.eaguers Reject Compromises
You say that the Nonpartisan
League bosses have agreed to have
enacted by the legislature compro
mise legislation providing for the
abandonment of the policies of
estate socialism," and return to
common sense and common business
methods. Something of this kind
was proposed recently by a COM
nlittee of the North Dakota Bankers
| Association, backed by certain bank
ing and political interests in the
state and presumably by Twin City
banking and grain and flour mill
ing interests, but was summarily
rejected by the Industrial Commits
sion. Moreover, the proposition is
absurd on it's face. The laws es-
tablishing these so-called tsocialis
tic" State enterprises were enacted
by a two-thirds majority vote of
the Sixteenth Session of the Legis-
lature in 1919, and subsequently APP
proved by the people in referen-
dunn election. They cannot possibly
be changed except by the legislature
or the people, and it would require
a two-thirds vote of the legislature
to override the vote of the people.
The control Of the present legisla-
ture is divided, the league having
a majority in the Senate and the OPP
position majority in the House of
Representatives. The opposition is
not unit. Its members in the leg
(, islature having been elected on a
platform calling for curtailed and
modified industrial (socialistic) pro-
gram, while it is we'll known that
many of its leaders will be con-
tent with nothing less than the
entire abandonment of the pro-
gram. At present a part Of the
opposition is for curtailment and a
part for abandonment. It is alto
gether unlikely that any compro-
mise proposal could be put thru
the present legislature. even II
(,agreed upon by the League bosses
| and the bankers who you assume
have undertaken to "pull the state
out of a hole, on condition that :;
give up insane experimenting with
, Socialist projects and return to the
, practice of ordinary prudence and
safety
The Socialism DOGGY
AS Is usual when writing on tn.
, North Dakota situation you play VI
1.-The alleged socialistic character o.