Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-01-04
new TAX SALE
PLANPR0P0SE
Olson Suggests War FL
nance Corporation Buy De-
.linquent Assessments.

Bismarck, N. D., Jan. ALBERT A.
Olson formerly state treasurer, has
written to Congressman George NJ.
Young suggesting that Mr.. Young and
his North Dakota colleagues in the
house and senate at Washington APP
proach the War Finance corporation
with a proposition of buying all Of
the delinquent tax lists Of the differ
emit counties of North Dakota. Tho
letter is. written because of h offers
Of different financial companies to
purchase warrants in the state at high
rates Of discount, Nome offers running
as high as twenty per G
Mr. Olson believes that going at the
present financial problem piecemeal Is
and not the bottom is the proper place
Of attack. By having one organization,
i on possibly a cooperation OF different
organizations, purchase the delinquent
taxes all state. county, township, city
and. town organizations would have
money to function and not only would
the farmers with hail warrants have
their money, but the schools would be
relieved of a large amount of worry
and many of state business
Would be reopened.
Delinquent taxes are about the
safest investment in the world" said
Mr. Olson in discussing the PROPOSE
ton. The interest is certain, the pay
ments are relatively short period,
the entire amount being due within
three years and the security cannot
be questioned"
In his letter to Congressman Young.
Mr.. Olson, after discussing offers made
for hail warrants and the suggestions
Of Mr.. Young. said: #
Would Head on Discount.
ssY "A1i-I. ,o,,. iloa 10 ~o4l 4~A
and If some loan could be made to
finance our state in such q way thai
no one would suffer any discount on
their warrants, it would be a great
help. I think there could be a way
worked out whereby school teachers
farmers business and professional
men would not have to discount theil
warrants, whether they were school
township, county or state.
II would suggest that you go be-
fore the members OF the War Finance
committee and see If they could make
a loan to each and every county in tn
state for all delinquent taxes. You un'
derstand, If the taxes were paid IL
each county. there would be no war
rants to speak of out at this time ant
North Dakota would be on a cash ha|
sis. The warrants do not exceed tn
levies in each subdivision n l wa.
Lk44AlnAkl6 lAkC oAAhSy
could issue the War Finance corpora
ton a certificate in full for all delin
quent taxes in each county, and the!
surely would be the best security il
our state today as the taxes are pait
before any warrants, bonds or n
thing else and there could be no bet
ter security in our state today tina
the delinquent taxes. Then. as tn
taxes are paid into each county, tn
proceeds could be applied to the loal
and sent direct to the War Finan
corporation and inside of three year
: it would be all paid up with a yer,
!. few exceptions. This would eliminat
e all speculation in warrants and othe
securities of this kind, and it woul'
not only help the people that hav
:, them but it would help the banker
and revive everything and we coul
start over anew and prosperity woul'
o soon be here.
: II have not given a sufficien
: amount Of study to this so that m
plans would be anyway perfect. but
; think that some plan along this lin
= : would be a very good move at thi
= time