The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1929-03-04
HOUSE TWICE VOTES
!, TO END PROTECTION
| that PROVED JOKE
Refuses to Accept Reserve Bill
for Colossal Failure in
Financial System
BRIDGE FUND CUT LOSES
One-Man Game Commission Is
Favored; Highway Police
Plan Is Killed
BRIDGE FUND CUT LOSES

North Dakota has grown SO tirct
Of its bank guaranty fund law that II
not only seeks its rcp>al but also
wants no substitute for it If action OF
the lower house OF the state lcgisla-
ture is indicative of general feeling
in the state.
The house Saturday placed Its
sanction on a bill to repeal the guar
anty fund law by n 1881 vote fol
adoption Of q committee report rec
ommending passage Of the measure
It booteA out a bill to require banks
to deposit with the state treasurer
amounts equal to their capital STOCK
by voting 52-29 for its indefinite post
ponement This measure was Offered
to take the place Of the guaranty
fund law.
Little Missouri Bridge Gets d. X.
The house killed eight other bills
on committee report, including a bill
to permit public buildings to burn oil
or gas produced In the state and a
bill to establish state police for en-
forcement of highway laws. Also on
the list was a bill to reduce from
$4,000 to $65 1000 the amount an
nually to go to the bridge fund and
q bill to appropriate $1,000 for bar
berry eradication work.
Passage of a bill to appropriate
$4,000 for a bridge over the Little
Missouri river in Dunn county was
indicated by adopting a favorable
committee report OH the proposal. A
68-42 vote favoring bill to create a
one-man game and fish commission
also came on committee report.
Much discussion came on the vari-
Gus reports. the house dcvotine a
large part Of its day to threshing them
over. It passed four bills. three of
which were education measures and
one to create the office OF custodian
OF the capitol for William Laist, vet
eran janitor.
u Only Two Defend Guaranty
The guaranty fund law had only
two defenders, Mrs. Minnie D. Craig,
Of Benson county, and o. E. Erickson,
Kidder county. Mrs. Craig MAIN
tanned the bankers of the state were
well pleased with the guaranty fund
law and suggested that lands owned
BY closed banks could be placed in
the school fund for use. She cited
the inaugural message of Governor
Weaver. Of Nebraska. upholding the
Nebraska guaranty fund plan.
Erickson based his support Of the
guaranty law on the fact that bank
ers wanted 1t upon its passage in 1917
and that now they were trying to
crawl out without paying anything
back to depositors.
why don't the bankers do some
thing for the people instead Of them
selves?" he queried.
THE guaranty fund law has failed
absolutely In North Dakota" declared
Albert Van Berkom, Burke county.
TT is an expense Of $4,000 yearly
and we'll never get anything out Of
It. We made q mistake in 1917 when
We enacted It. The mistake now Is
to continue the struggle with 1t at
$4,000 annual cost"
WIN Aid Existing Banks
A. J.. Rulon, StutSman county,
pointed out that since 1917 the num-
Der Of banks In the state had de-
creased from $50 to 326 and that with
the present number OF banks 1t would
take 122 years to pay out amounts
Lost in closed banks. In 1928, he said,
4l38,000 had been collected and about
one-third Of this was necessary for
operating expense.
Repeal Of the act would be bene-
ficial to present banks and, in conse-
quence, to the communities and farm
err, but II we continue to put money
in bottomless hole, more banks will
90 out Of business Rulon asserted.
~Why force the communities to sus-
tain this continual drain?" asked J.
q. WiGen. Adams county. 1.-The bill
now before the house would relieve
thu communities Of a steady money
outgo."
Twjchell Favored Cut
=. 4. Twichell, Cass county. at
tackled the proposal Of selling land
owned by closed banks to the school
fund which, he said, Mrs. Craig had
suggested. He described It as rob
hing Peter to pay Paul." In that it
would take money out Of the school
fund 70 nay depositors. School funds
sl,ould Be inviolate. he said.
J. A. Jardtue, Cas- county, opened
the fight for the bill to cut from
$4,000 to &66.O00 the amount to go
annually into the bridge fund. He
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