Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1921-02-15
COMING DOWN


That seems to be the present attt-.
tYde of the administration leaders At
RasmArck, and with all those who
have been ~conspicuously identified
with the program of wild, finance and
political manipulation>that has been
in progress ever since Socialists were
placed in charge Of our public affairs.
The mental condition Of those who
are up the Socialist tree is reflected
in different ways. Some are in such
haste to get down hat they are in
different il they bark their shins a
little in the process. Others are
moving cautiously, and trying to slip
down on the off side of the tree, as
it were, without attracting much at
tention. Others are jumping down
boldly, with an air Of having intended
the descent all along. But in one
thing there is unanimity. They are
all making haste to get down.
A meeting has been held in Mime
apolis, attended by several men rep
%resenting the league political COM
bination and others representing
banking interests i'll North Dakota
and in Minneapolis. AS a result of
that meeting it was agreed thai the
banking interests would cooperate in
the sale of some ten million dollars
worth of North Dakota bonds, under
certain condition. These conditions,
briefly stated, are:
Liquidation Of the Bank Of
North Dakota as a commercial &,
institution and restriction of it's
activities to farm loans.
Provision to be made for the
deposit of public funds in private
banks.
Dissolution Of the Homebuild-
ers' association when work al
ready started is completed.
Restriction of the industrial
program to the completion and
operation of the mill and eleva-
tor at Grand Forks.
Representatives OF the league and
the administration are quite ret1cent
on the subject, and while they admit
that a conference was held and some
arrangements were made, they have
been exceedingly reluctant to say Just
what these arrangements are. The
above outline, however, is substan.
TALLY correct.
A. G. Townley acted as the head OF
the league delegation that partici-
pated in the conferences. 1t may
strike some people as peculiar that a
maj who is not a resident Of the state
who owns no property and pays nc
taxes here, and whose only interests
here are those of a political transient
should figure SO largely in the adjust.
ment of the financial affairs of the
state. and that the negotiations 70,
this purpose should be conducted in q
distant city. This is but a passing
phase of the situation, however, and
n of many peculiar features which
are apt to develop in the operation.
of a Socialist administration.
The most cheerful man in thu
league camp is Oliver S. Morris, pub.
licity director Of the National Non.
partisan leagues executive committee
MI. Morris can afford to be cheerful
That is n Of the things that he i!
paid for. He finds in the present ar
rangement a glorious victory for thu
league. He finds that the faction.
are getting together on the league pro
gram, and he thinks that this is thu
greatest victory hat the farmers o,
North Dakota have every won. 1
will be remembered that Mr.. Morri,
was also very jubilant after the league
victory Of last November.
However, Mr.. Morris thinks that tn,
industrial commission may agree with
the opposition or certain details as tt
how the details shall be carried out
The details have been set forth above
It will be recalled that some week,
ago the bankers Of the state. through
a regularly appointed committee
offered to undertake the sale Of g
large block of state bonds, under Ger
tain conditions. The conditions out.
lined were such az would convince
prospective buyers that the state Of
North Dakota intended to confine it,
commercial and industrial ~activitie,
within safe and reasonable limits
thereby giving assurance that the
bonds did not represent merely q par,
of a wild and reckless program thai
was to be prosecuted without limit.
That proposal was Indignantly re
jected by the Industrial commission
which adopted resolutions denouncins
it.. Individual, officials condemned 1t
and the Socialist press was unanimou.
in rejecting it.
Since then there have been import.
ant developments at Bismarck. Some
light has been shed on the manage
ment OF the states industries, and the
facts brought out have not reflected
any credit on the administration. Mr.
Townley appeared on the e and
urged that the bankers proposals b
accepted. His advice was spurned
Then came more revelations. and still
more. Then Townley made another
effort, and this time he, appears u
have succeeded in convincing enough
OF his followers, and the formulation
Of the Minneapolis agreement - the
result
Now II y TO be noted that the terms
accepted ~ the league delegates IN
Ninnsapohs m. = all e~a0entiabI
identical with the terms proposed n
ths bankers wssks ago. which terms