The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-02-13
BANKING PLAN
LARGEPART OF
N.P.'SPR0GRAM
Many Measures Are Intro
duced Designed to Limit
The Borrowing Power
TAXES, MORTGAG E S
Proposal Is Made to Put Large
Part of Tax Burden on
Business
Fail to Pass

GIL ~ avs
The StN.e Senate this after
noon failed TO pass the Sunday
Movie Local Option bill. The
House killed four bills making
appropriations for fairs at Man
dan. MinOt, Fargo and Grand
Forks.
The Senate concurred in House
Amendment to the two cigarette bills
and they now will go to the Cover
nor.
With practically all bills to be in
troduced during the present session
now before the state legislature it is
possible to make a fairly accurate
survey of the legislative program, or
which the Nonpartisan League pro
poses to justify its administration
either through enactment, or as a
basis of an appeal to the voters OF
the state.
The measures which have been in.
troduced fall into four classes:
l. Measures introduced at the
personal desire of Governor a. G
Sorlie, some of which have only I
very collateral connection with the
general league program.
2. Bills designed to regulate banks
and promote the Bank of North Da
kota.
3. A set of measures somewhat
akin to those just mentioned design
ed to cut down the making of mort
| cages. and also to grant additiona
privileges to farmers whose propert!
is mortgaged.
4. Tax bills designed to throw
| the burden of taxation on busines:
| property.
The Governors Program
The first class has been made
fairly familiar to the public through
the governors message. 1t include.
his bills to abolish the board of man
| ayers of the state mill and elevator
association, and to make the stat,
| mill a terminal market which hav,
, already passed the house, and alst
! the measures providing for stat,
| efficiency expert, and for state ra
! dio broadcasting station at the cap
| itol which are still pending in tn,
lower legislative body. All of tn,
bills pertaining strictly to Governor
Sorlie's personal program were in
troduced in the house.
Banking Bills
Senator Ralph Ingerson of Burke
county has been in general charg,
of the banking program bills.
The first two bills to be introduc
ed along this line were Senate Bill
2 and ) put in by Senator Miklethun
For limiting the rate of interes
which banks might pay on deposits
or receive on loans. The former wa.
killed and the latter was amended
by the Independent majority in tn
senate SO as to cut off it's most rad
ical provisions 9 per cent being made
the. maximum rate instead of 2 pc
cent as originally demanded by tn
bills author.
Then came the introduction of. Sen
ate Bills II and Is by Senator Inger
son. The first of these was S,
framed as to make it difficult TO
banks operating under state charte
to borrow money and as conse
quence to lend it. The latter pro
vided that owners of bank stocl
must deposit securities with the stat
equal to the holding of their stock
The Independent majority in the sen
ate has forced modification of tn
more radical provisions of both o
these, and in their amended form
they may be passed.
Other bills introduced by Senate
Ingerson are along the same lin
which are still pending before tn
senate are S. B. 81, which makes i
larceny for officers or directors t.
borrow money from their own banks
S. B. 1913 which places severe re
>strictions around the operations o
Savings banks, S. B. 2O4 making Ger
tificates of claim issued by the de
posit0rs guaranty fund commission
negotiable, interest bearing instru
ments, and others.
The climax of the whole program
| 10 ACoSuSV III ocu0L0 OlIIS ~ All
227 introduced by Senator Bakkel
which make the deposit Of all publ
funds in the Bank of North Dakot
mandatory, provide for the establish
ment of branches by the Bank o
North Dakota. and puts the admin
istration Of the depositors' guarante
law in the hands of that institution
The former proposal is not favore
by Gov. Sorlie.
+ A similar bill was introduced i
the house by A. C. Miller the com
| munist member from Williams coun
ty. -,
Counterparts Of several of tn
bills mentioned above have been in
troduced in the house.
Mortgages Etc.
Closely allied to, the banking bill,
are q group Of measures which take
the credit problem from another
angle but with the same general enc
| in view. VIZ &.f
Senate Bill 1873 would make al fu
(Csnttnssd On pags tArssl