The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-01-07

A. G. SORLIE
failed bank, it will advance to the
depositors upon the security of their
Certificates of Proof of Claim, a
certain percentage thereof at an in
terest rate of six percent, the
amount so loaned to be not more
the value of such certificates, ac-
cording to the said appraisal. The
Bank of North Dakota should be
given authority to collect, compro-
mise, discount, sell, or in any legi-
innate manner realize upon the as
sets of such closed bank as soon as
may be, and apply the proceeds as
realized, first to the payment of it's
costs and disbursements in connec-
tion with said matter, together with
such sums as will repay it for it's
expenses of liquidation, and second,
to the payment Of the Certificates
OF Proof Of Claim. 1t should also
be made the duty of the. Bank of
North Dakota to redeem or purchase
any mortgages or pledges Of prop
erty where valuable equity re-
mains to the failed bank, and to
advance such sums as are necessary
therefor. To do this will require
that the Bank of North Dakota shall
advance much money, and proper
provision must be made therefor,
which, as to banks to close here
after will not be very difficult.
This suggested plan must in no
way be confused with the State
Guaranty of Deposits. The theory
upon which this plan operates is
that the Bank of North Dakota shall
advance only a proportion of the
actual value of the assets. All ad-
vances made should be returned
with interest from the proceeds of
collections. If properly administer
ed, this plan should bring to all de-
positors measure of immediate re-
lief, should prevent waste, and do
away with the tremendous cost of
bank receiverships. The plan means
only that$he Bank of North Dakota,
the instrument Of the state, shall as
sist the depositors with the states
money and credit, all properly Sc
cured. The plan proposed is tenta-
tive only, and it is possible it can
be arranged so that the state bank
can purchase such certificates OF
Proof of Claim outright.
! believe, if your committee will
make use of the best financial abil-
ity and counsel within and without
the state, plan and law along the
general lines herein suggested can
be evolved which will be of inestim.
able value to the commonwealth, and
which will eventually be adopted by
the nation to protect depositors in
national banks.
Disrespect For Law
The growing disrespect for our
penal Institutes and the law gener.
ally, especially upon the part of the
younger generation, is a matter that
is attracting much attention and
discussion and causes alarm among
those of US who are closely obser-
wing the moral and social reactions
of our citizens. Disrespect for the
law easily leads to disregard for and
violations of those penal statutes
which, without overbearing moral
necessity, assume to regulate the
lives and habits Of our citizens; and
such violations lead to others more
serious until at times, one is led ia
wonder if we are to become a nation
of habitual law-breakers. Sociolo
gists are continually writing anC
talking along these lines, and many
theories have been propounded re.
garding the cause of this serious
moral condition, and many remedies
proposed therefor. In my judgment
the fault lies very largely at the
door of mistaken moral reformers
who are continually asking for the
passage of laws regulating the lives
and habits of our citizens, and ini-
posing penalties for the doing OF
acts which, in themselves, are not
morally wrong. These reformers
usually represent organized minori-
ties who, by force Of their organi-
cation and apparent power, and also
because of the high moral plane up
on which they assume to- stand, i'm
press upon our lawmakers the neces-
sity for and cause the enactment VI
many laws which are not approved
by the great body Of our citizens;
and thus we find upon our statute
books many laws which are not sup
ported BY a healthful public opinion
the violations of which are general
ly winked at, and for WHICH con-
viction in our law courts is not gen.
orally deemed disgrace. The pass.
ing and putting into effect such
laws is a dangerous meddling with
,the inalienable rights of our cit
liens, and while they may be held
by the courts to be constitutional
as an exercise Of the police power
they not only do not accomplish the
reforms their sponsors hoped for
but they lead up to disregard for
the law in general, and do inestim-
ably more harm han good. ~
l suggest to The legislature that
no more such laws be put upon The