The Sisseton weekly standard. (Sisseton, Roberts County, S.D.) 1892-1929, 1921-04-29
Topics Of the Day
By Herbert E. CASTOR


Yorks state-owned grain elevator at
Brooklyn has been let to a Min
neapoli firm. This illustrates again
by what strange condolences things
happen in this world. The contract
has been let to the same firm which
has the contract for building the
North Dakota state-owned elevator
at Grand Forks. OF the two state
owned elevators that at New York
is to be the more expensive.
1t was only a few weeks ago that
Wall Street brokers, with Offices only
a few miles from Gowanus bay, where
the New York state elevator is to be
built, were telling Sturgeon Odell
representative of the Bank of North
Dakota, that the state of North Da-
kota was ssgetting too socialistic"
They knew a great deal about at
fairs in North Dakota. They adj
mitted it themselves. But they
knew very little about affairs in
their own state OF New York. Mr..
Odell told them about the 100000
bushel elevator that was to be built
at Gowanus bay and the other two
sate-owned elevators that already
have been built on Lake Erie and
they expressed surprise. They had
been too busy finding out about
what was happening in North Da-
kota to learn about the affairs OF
New York state.
They had heard so much about
North Dakota that most OF their
knowledge was wrong. They were
sure, that the bonds of North Da-
kota could not be sold, even in the
relatively trifiing amount OF So
100000. because of the publicity
The officers of the state of North
Dakota have decided that the rem
edy for publicity is more publicity
and they have undertaken to let
the people of the nation know
about North Dakota and its bonds
which Wall Street can't sell be-
cause 1t is "socialistic" to build
state elevators, although New York
state is spending several times as
much for the same purpose.
The campaign II beginning to
have it's effect. A great manv
American citizens are questioning
why 1t is that a boycott Of the
government of one Of the states Of
the union can be carried on and
the organized financial power of the
country be brought to bear to COM
pei that state to change its gov
eminent
Common sense tells them that the
excuses given for Refused to handle
the North Dakota securities by
bankers are the fimsiest OF "alibi"
stories. Bankers and bond dealers
who fear the money of the people
OF North Dakota is going to be
wasted in "socialistic experiments
have never before shown the slight
est concern what the proceeds Of
public bonds were to be used for.
They have freely and readily soil
bonds for works of public improve
ment from which not cent of rev.
enue was to be expected and pay
ment for which would have to be
made solely by tax levies. They
have sold bonds in amounts equal
to the North Dakota issue for gov
ernmental units with not tenth II
the taxing power or assessed valua-
ton back OF them.
The only real objection to the
North Dakota bond issues has beer
that the state Industries they were
to establish would ''invade the field
Of private business" and that they
were likely to prove successful
The private business which the,
threaten to disturb has been highly
profitable. If It had been an UNI
profitable business. the state would
have had the enthusiastic cc-cpera.
ton Of BANKERS and bond dealers II
the efIotrs 70 t.ke it~over.
New York state goes into tn.
terminal grain elevator business
without thought Of objection from
bankers or chambers Of commerce
because the state Is spending iti
money to take trade aw.7 from
paltt IN other states. Prisa.e cap
ital didn't dare to take the risk .
1 attempting this. And New York
the state whe-e this s.sncialis,:c'
step can be taken withon, objection
Is the state where they expelle.
socialists from the legislature, 8,
Keen Is .!.a":r dislike OF them.
Confidence IN the sense Of just
Ice Of the American people ant