The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-12-12
NOT
AS DARK AS
IT IS DRAWN
c. l.. MOsher of Federal Re-
serve Bank Tells ROtarians
of Agricultural Survey
FAILURES BEEN SMALL
Slightly Over 1910 in This
State-Other Sections Much
Worse off, He Declares

North Dakota is essentially sound
but there is great need of a better
business morale in the estimation of
Curtis L.. Mosher, assistant federal
reserve bank agent, who spoke to the
Rotarians- at their, weekly luncheon
at the Mckenzie hotel today. He
has just finished most comprehen-
sive economic survey Of the North
west in which he travelled from 5000
to 1000 miles by automobile. In re-
futation of the rumors being clrcu-
lation that the farmers are irretrevi
abled involved financially, he declar-
ed that the reverse was true and tina.
statements made in the east by GER
tain North Dakota citizens could not
be substantiatcd by the facts. He
found that there were less than 5000
farmers who were being foreclosed
upon and that the eventual number
in the state would be less than 1000
Many q this number he said should
never have followed farming as a
vocation as they were untitled.
There are more than $4,000 farm
crs in the state he said who will
carry through, many of them while
not in good condition financially he
said would be helped by credit
sources which arc being = taxed ia
spread over the rural indebtedness IS
SO as to bring the Northwest safely
through the present crisis. He found
that slightly under 800 farmers had
actually abandoned their farms and
that in most cases the community
was benefited as these men were
chronic failures as farmers. In CON-
parison TO the aggregate number OF
farmers in the state only small
percentage had taken advantage OF
the bankruptcy act he said. Perccn-
tage Of failures in the state he said
was slightly more than ten percent.
In Montana he said tho rate was
much higher.
He urged a better sentiment to-
ward the banking institutions. He
said that the percentage Of farm
failures was not great when compar-
ed to other lines of business. He
said that banks, merchants and 9TH
CIR lines of cndcavor had suffered as
severely as the farmer which was Of
course a most natural result for
without a success on the farms in.
dustry lanquished and the merchant
and banker had to suffer with the
rest. He praised Governor Nestos
for his speeches of optimism in the
east and the efforts of the admins
tration to discount false reports that
are being circulated upon Northwest
conditions.
OF survey of $4,000 farmers he
said that it was found in this state
that 85 percent of them were eff
eient and competent to weather the
storm.
He praised the bankers of the state
for their attitude in the crisis and
said that the community itself by its
own actions could assist greatly. Few
banks were closed he said through
dishonesty Of officials and that in
most cases of closed banks, the
bankers had spent their all to avert
disaster.
Urging the citizens to put their
money in sound institutions and
take it from places of concsalment
where it performed no economic SER
vice, he made an earnest plea fol
common sense in solving the pro-
blems that confront the Northwest.
P. r. Fields gave IN excellent talk
upon business methods as laid down
by the Rotary code of ethics.
Supt. Saxvik delivered the birth
day oration for Dale Simon and pre-
sented him with an appropriate gift.
J. L. Bell won the prize awarded
to the bald headed members. The
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