The Bismarck tribune., 1922-05-17
WHY STOP AT THE BANK?


WHY STOP AT THE BANK? :...
"There has never been the slightest legitimate
excuse for the creation Of the Bank OF North
Dakota as a commercial agency" solemny oplnes
the Grand Forks Herald of recent date The edl-
torial continues to larnbast the Home Building
association and concludes empiricaly as follows:
"Mr. Baker and his associates are pledged to
the revival of both Institutions and if, by any
chance they should gain control Of the administra-
ton, tie people of NorthsDakota would be doomed
to another series of il-considered and costly ex-
perimeents in fields where the activities of the
state are not called for and do not belong"
The Herald speaks the truth, but why restrict
the attack to the Bank Of North Dakota and the
Home. Building association. Jerry Bacon is silent
upon the Grand Forks Mill and Elevator and the
Drake Experiment which Secretary Crawford IS
attempting to show through skillful Juggling OF
figures has made a profit within the last lew
weeks, but the Crawford statement will not bear
close analysis and belongs to the species known
as campaign material to be taken before election
and forgotten after the votes are polled.
Everything the Grand Forks Herald says
about the Bank of North Dakota and the Home
Building association applies with even greater
force to the Grand Forks Mill and Elevator The
money losing possibilities of the Drake and Grand
Forks ventures are much greater than would re-
suit from the bank and home building ventures,
but the mill and elevator mean political pork for
Jerry Bacon's organization and that is why The
Herald is as silent as the tomb upon the business
wisdom of the state engaging on such an enter
prise. @s.&
A g tho c9n1naiUn cOnfinupS the Inconsistencies
Of the l. v. A. position will grow State socialism
is either right Or wrong and it makes little differ
ence in the final analysis what political clique con-
trolls the administration of such theories. Taxes
will pile up as reentlessly under one regime as
another
The /. v A. press may pat the administration
upon, the back for it's success at selling bonds as
an evidence of North Dakota's "regained credt,"
but with every bond that is sold to boost the state
into the mill, elevator or bank business the states
credit is lessened and the tax payers liabilities
are increased.
It should not make much difference to the tax
payers whether the league or the I. V. A. is the
tax master. Politicians are politicians and as
one faction wakes in strength and becomes more
entrenched in state socialism, bond issues will in
crease and pay dtttsw arrive inevitably.
The voters SHOULD be thankful if bond issues
could not be soldS Such a situation means money
in their pockets despite the reluctance of leaguers
Or I. V. A. henchmen to tell them the truth.
AT recent bond sale, no real estate bonds
were sold Action was deferred, it was announ-
ced, becausepf certain teehnicalities. Farm loans
are more necessary Et1 kshtsYe1 conditions than a
half million more bond st fort money to be squan-
dered at Grand Forks. But Jerrys pork barrel
took precedence over the farmers needs toward
whose relief a golden stream was to flow after
the recall had oblterated the last sordid traces of
greed and graft. ~.
But it twas ever thus.
The clear cut, logical platform of H. L. Stegner
which proposes to wipe out the sorry mess and
junk the league and l. " A. program is gathering
support despite the fact that most of the press
refuses to discuss the chief issue in this cam
paign: Kidding the state of socialism and con-
fscatory taxes. . w..
1t is to be hoped that the truth will be carried
to the people and then the hypocrisy of engaging
in campaign upon the other fellows platform
on the sole issue, "elect us as we are more honest
and less socialistc than the league" will dawn
upon an electorate which is being plunged deeper
into debt every day to carry out class program
which the craven politicians believe means votes.
European artists believe that the United States
is on the verge of great artistic awakening.
1T would develop normally with culture" says
William H. Fox, director of the Brooklyn Museum