The Bismarck tribune., 1929-01-09

THE BISMAH
result of rapid and extensive expansion in the functions
Of the government both local. which has occurred
svs manu- for es
ments and expansion in this country and the certain
greater public debt and higher tax eves extending through
out the entire ct from the to
this state the number of taxpayers
ss % s M ns
the strain Of nationwide economic depression the shock
which, happy say, made and making
and steady recovery.
state are entitled be Delivered if It IS within the
and genius Of the officials state and local. to
In view Of these elementary facts apparent that any
G not sc s' % the Re
government only which as have said before consumes
spe the
tons Of all political subdivisions Of the state which con-
involves comprehensive program Of reconstruction and
in our whole system Of from top
unnecessary governmental functions. the consolidation OF
and and % f ans @
elimination Of other governmental activities No other
'ss K: viii II any % as
it not within the Of the government to reduce the
program should contemplate the strengthening the
Of more Efficiency IN the entire SYSTEM and the elimination
OF waste and expenditures the whole
This problem not to s s1s
Of care and deiberation and high degree intelligence
and the part Of both the legislator: and adn
hopless and that should at this session give
serious consideration to il / realize. however. that with
tention will be possible for you undertake such
y at M this M session e dtr re-
interim legislative committee or competent commission
o
Legislature Such interim committee or commission should
it's compensation for its
This - matter att Of a s t port @ to the
earnest and careful consideration.
BANKING LAWS
also wish to direct your attention to the condition of the
laws Ia the state relating to the and
Deposors and investors banks have passed thru very
which has taught that laws relating these assoca
ons which Of quasipubc character not adequate
deposiine investing public Perhaps banking system
Of could withstood the shock the postwar
ing economic condition Of the times, in order prevent
vesmens and to safer and sounder
% eo sss % n e BE dealt with
hastily but with and deiberaton Accordingly recom
commission study this subject and make report the
next legislative session While this like delaying
proceed with extreme and throuehness such matters
for if work in this field is we'll and wisely done it WILL
in all probability stand without notification for years.
SECURITY FOR PUBLIC DEPOSITS
There i however piece of the bank legislation that
might we'll be considered at this session AS know under
present laws both and national banks entitled to be
designated depositares ali public funds except state
funds and when designated, required to furnish
such public deposits Under the unusual conditions which
prevailed banking field in years.
bonds have entirely unsafe and surety bonds either
too expensive difficult to obtain with the result that
aarins vsitua ho
remeded by adopting law which will authorize banks to
Security for public DEPOSITS in lieu Of personal or surety com
pany bonds believe is good public policy for the political
subdivisions to keep large share Of their public funds
conditions which will absolutely protect such public deposits
against loss in Of bank insolvency.
BUILDING AND LOAN ASSOCIATIONS
would suggest that this session you revise tn, laws
pertaining to the organization and operation Of building and
loan associations Owing 70 the recent difficulties in the
banking business investors putting large rrs Of
% desirable a the
the State Banking Department these nstu, ons be
and that certain be adopted
this class OF investment companies OH promotion or
speculative basis.
TEACHERS INSURANCE AND RETIREMENT FUND
wish direct your attention to the necessity of revising
law oggnay enacted in 1918 and has been in operation
since actuarial survey Of the schedule OF rates
schedule altogether inadequate maintain the sovecy of
the fund.- and that remedial legislation is imperative to
protect its future existence and usefulness.
STATE HIGHWAY DEPARTMENT
The State Highway Department has recently become
Of the most important departments in the whole state
government It's growth in the past five has been
phenomenal 1t engaged the gigantic task Of
under the Federal Aid Plan, and the Of this
structon and work i now annually exnsnd-