The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-06-27
PROVIDING ron 4 FINE-YEAR
NOR NTORll VI

NONATOVIl NJ
Submitted by initiative petition:
a measure providing for "a five
year partial moratorium.
Be II Enacted by the People Of the
State of North Dakota:
Sec. That whereas a public
emergency and crisis exists through
out this state endangering the public
health, welfare and morals, in that
agricultural crops and products have
been sold on an average below the
cost of production since 1872, and all
agricultural land values have disap.
peared, due to the uncalled-for de-
flation and manipulation of the cur
renCy. through and by the Interna-
tional bankers. which caused UNDER
consumption and produced starving
millions throughout the nation: and
whereas taxes have been steadily in
creasing in spite of the daplorable
condition confronting agriculture, and
the cost Of living has been generally
ma inta lned. and whereas agriculture
is the principal industry in this state,
and all other industries In this state
are solely dependent for their exist
ence upon agriculture. and whereas
there is at present no means by which
existing mortgages and indebt edncss
can be refinanced, and the debtors
and mortgageeS tmortEagors) are at
the mercy of their creditors: and
whereas hundreds and thousands of
families have already lost their homes
through mortgage foreclosures or
other judicial proceedings: and where
as hundreds and thousands more will
lose their homes unless adequate re-
lief is given by law: therefore, In or
der to prevent a complete financial
collapse Of agriculture. commerce and
industry in this state and the utter
ruin and destruction of agriculture.
commerce and industry in this state.
and the collapse of civil government
and in order TO maintain the integrity
of families and their homes, and the
public health, welfare and morals of
the people of this State. a partial
moratorium for a period of five years,
or until such time within the five
year period that the Congress OF the
United States shall have passed the
Farmers Farm Relief Bill. known as
the Frazier Bill, Is hereby declared
tipe that this act takes effect. in
GLIDING taxes and debts due by indi-
Ylduals to the state. county, or other
political subdivisions. except that the
benefits of this act shall not extend
to corporations, nor shall they eX-
tend TO any person. who, upon an or
der to show cause before any district
court, is found upon competent evil
dence to be financially able to pay
such Indebtedness without sacrificing
his home, lands, goods or chattels with
which he creates wealth for a living,
and which are necessary to maintain
his family. or which are absolutely
necessary and essential in the con-
duct OF his business. nor shall this
act be so construed as to prevent the
recovery Of property sold on the in
stallment plan. where the seller main
tanned or maintains title.
Sec. >. That il shall be unlawful
for any sheriff, deputy sheriff or his
agent or any other official OF this
state 70 levy upon, attach. seize or
sell any personal property of what
ever nature, other than excepted in
Section | hereof, under an execution
issued upon judgment or upon any
other Indebtedness existing at the
time that this act takes effect for a
period OF five years from the date
that this act takes effect. or until such
time within the five-year period that
the Congress of the United States
Relief Bill, known as the Frazier
Bill, provided that such judgment
debtor or other debtor pays one per
cent interest upon such judgmen t
debt or other debt annually from the
date that this act takes effect, pro-
Vided further that in case such inter-
est is not paid before the expiration
OF one year from the date that this
act takes effect that then the pro-
lection of this act shall cease as to
such debtor.
Sec. g. That upon an execution or
foreclosure sale Of real property, or
upon an execution or foreclosure sale
Of real property heretofore made up
on which sheriff's deed has not yet
issued. no such deed shall issue for a
period OF five years or until such
time within the five-year period that
the Congress OF the United States
shall have passed the Farmers Farm
Relief Bill known AS the Frazier Bill.
and the debtor shall be entitled to re-
deem for period of five years from
the time that this takes affsrt
or until such time within the five
year period that the Congress of the
United States shall have passed the
Farmers Farm Relief Bill. known as
the Frazier Bill. and he shall be en-
TITLED 'to the possession, rents, uses
and benefits of the property so sold
from the date of such sale until the
expiration of the period OF redemp-
ton, provided that the owner or the
person claiming an interest in such
real estate pays future taxes, to-
gether with one per cent interest on
the amount that such property was or
is sold for annually from the date
that this act takes effect, provided
not paid before the expiration of any
one year from the date that this act
takes effect that then the protec-
ton Of this act shall cease as 10 such
person.
Sec. 4. That the state shall not
during the period that this inorato-
rum is in force. and that in all cases
where the state has heretofore fore
closed or Cancelled such contract and
is still the owner of the land that
then the same shall be reinstated up
on the applicat ton Of the original
purcha ser. or any person claiming
through him, upon the payment Of
one per cent interest of the amount
due within one year from the date
a l.f fink . he
chaser or anyone claiming through
such purchaser shall have a period Of
five years within which to comply
with the terms and conditions Of such
contract. or until such time within
the five-year period that the Congress
of the United States shall have passed
the Farmers Farm Relief Bill. known
as the Frazier Bill, provided. however.
that the purchaser, or those claiming
through him, pay future taxes and
one per cent interest per annum on
the purchase price from the date that
this act takes effect.
Sec. 5. That 20 county shall issue
a deed upon any tax certificate now
outstanding for period Of five years
from the date that this act takes eff
feet. or until such time within the
fi,e-year period that the Congress Of
the United States shall have passed
the Farmers Farm Relief Bill, pro-
vided that the owner or the person
claiming an interest in the real estate
sold for taxes pays one per cent in
terest on the amount that such prop
erty was or Is sold for annually from
the date that this act takes effect,
provided further that In case such In
terest Is not paid before the expira-
ton OF any year from tho date that
this act takes effect that then the
protection Of this act shall cease ia
such person, and In all cases where
heretofore tax deed has been Is
sued TO the county. and the county il
still the owner Of the real estate
then the owner. or any person inter-
ested In such real esta.s. shall have
the period during which this mora
torium 10 In effe # to repurchase such
lands upon application provided such
purchaSer within one year pays ONT
per cent interest annually Of tha
| amount Of taxes due, together will
| future taxes. such application. how.