The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1928-11-01
Total
Total donocits !,

Total deposits in
above ............ $37, 322, 362.80
Amount paid into
Guaranty fund 80. 1887 500. 90
This proposed amendment is in ef-
feet that the governor and state
treasurer rhall prepare and issue
bonds Of the state Of North Dakota
in m amount not to exceed twenty.
five million dollars and sufficient to
pay all losses in the guaranty banks
and sell the same and use the pro-
ceeds to pay the depositors. The
claim is that the state il morally
bound to make such payment by res
son Of the fact that It permitted the
banks to claim that the state guar
anteed such payment. But the as-
serted guaranty by the state is ut
terly false as shown by the fact that
in January 1923, by Chapter 200 Of
the Session Laws, Section 80, it was
made misdemeanor for any Of the
bankers or their employees by writ
ing, or otherwise, to assert that the
state guaranteed any payment.
The people of the state were all
bound to take notice Of that act and
they were bound to take notice of
the Constitution of the state limiting
the liability Of the state to . very
small amount. Every person of COM
mon sense should have known that
the state did not undertake to pledge
its credit for an unlimited amount
such as thirty-seven millions or
more, and the people were bound to
notice that in 1920, 1921 and 1922
there were several bank failures
and that the state never paid . dol
lar on such failures and they were
bound to notice the terms Of the orig
inal guaranty act and the amend
ment made in 1928, and tho fact
that by neither act did the state in
any way guarantee payment. It
simply provided for q commission Of
five persons to receive small depos-
its from guaranteed banks and to
apply the same to the payment Of
depositors In closed banks.
Now the state is simply q politi-
cal organization of citizens and tax
payers. The organization is formed
for mutual protection of life, liber.
ty and property and no one citizen,
or class of citizens, is under obliga-
ton to take another class under
guardianship. The depositors who
lost their money and aligned tho petit
tions for the amendment cannot
claim that they were without~fault
any more than any other class Of cit
liens. They were bound to take no.
tice Of tho law and to protect them
selves and it is with poor grace they
ask another class of citizens to pay
their losses and protect them against
their own imprudence.
In England before the. Norman
Conquest, Robin Hood was bandit
chief and little king. He robbed the
rich or levied . tribute on them and
gave to the poor and did it without
any false excuses. But our state
constitution and federal constitution
were made to protect life, liberty and
property and not to rob anyone.
The 18th amendment ia the feder-
81 constitution provides that no st4te
shall deprive any person Of life,
liberty or property without due pro-
cess Of law. The passage Of any
constitutional amendment to rob !
person or take his property by force
il not duo process of law. On that
point tho decisions Of the federal
supreme court are numerous and
controlling. Were the proposed
amendment to pass the proper thing
would be to commence IN action IN
the state supreme court TO declare
the amendment void and to psrpet-
ually enjoin it, enforcement and for
q small part of q million / vaeuld
gladly commence and prosecute such
an action, and appeal to the federal
aupreme court in case our supreme
court should sustain the amendment.
JUDGE ROBINSON