The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-12-05
(Official City, State and County
Newspaper
Foreign Representatives
SMALL, SPENCER, BREWER
UncorporatedD
CHICAGO NEW YORK BOSTON
A Conservative Radical

It is with great pleasure that We
print in the Peoples Forum, COM
munication from S. A. OlsnesS whom
we paradoxically term 'conserva-
tive" radical.
Mr.. Olsness is one Of the few state
officials who has survived the ups
and downs of political strife. The
administration of his office has met
with general satisfaction through
out the state and nation. In fact,
as a state official. Mr.. Olsness is
most conservative. He INDUCES in no
radical economic views in the admin
,stration Of the insurance department
but usually leans backwards in COM
plying with the letter as we'll as the
spirit of the law.
For such rugged honesty and eff
ficiency we number Mr.. Olsness
as among our friends, but he should
not forget that The Tribune has at
no time endorsed state ownership in
any form. 1t has repeatedly pointed
to the fact that pay day would come
sooner or later. Great sums Of the
taxpayers money have been con-
sumed by these state enterprises.
The record speaks eloquently of that.
There was the Inflated mill at Drake,
the state-owned creamery at Werner
and the home building experiment.
These had to be liquidated at great
losses to the people OF the state.
Losses at the Grand Forks mill and
In the rural credits department Of the
Bank of North Dakota have already
in part been written off and money
taken from the pockets Of the tax
payers OF the state to make these
losses good and sustain the solvency
of both enterprises. This too, is the
record. More money must be secured
somehow, somewhere, to make up ac-
cumulating losses in interest and sink
ing fund.
The credit situation came keenly
to mind last week when the State
Capitol Commission offered 100000
of certificates of indebtedness for
sale. If this states financial house
had been in order, these five per cent
securities would have brought a pre-
MUM. But what happened? The
Bank OF North Dakota had to step
III and freeze up more public money
in hopes that tax collections will
thaw out this and other securities
in its vaults. The Bank OF North
Dakota may be able to peddle some
of these certificates in small lots and
case the situation.
Mr.. Olsness belongs to the school
of political and economic philosophy
which believes the state should take
over all capital operations. He is
honest in his viewpoint, just as Nor
man Thomas, Socialist candidate for
the presidency, is sincere in his ad-
vocacy of the doctrines OF that school.
To such political principles The
Tribune cannot subscribe, but it be-
lieves in fair hearing for all honest
convictions on public issues.
The record Of public ownership, in
the main, has not been favorable. It
is a process by which private prop
erty eventually is converted to pub
lie purposes through confiscation by
the tax route. Thousands of aban-
doned farms in North Dakota testify
to this. South Dakota, with its Law
ish rural credit system, is in worse
condition than this state. Mime
sofa has written a sorry record of
state-owned and politically-control-
led rural credit systems.
The state insurance enterprises,
under Mr.. Olsness' direction, have
been outstanding among public bust
ness ventures in the United States,
but what can happen, even where the
business is handled with unquestion-
ed skill and unimpeachable honesty.
is indicated by the present status Of
the state hail department. As the
result Of . law passed two years ago 1t
has S2.000.O00 in uncollected debts on
its books.
This is distinctly not the fault of
Mr.. Olsness or Of his administration,
but the fact does illustrate how easily
public business enterprises may get
into trouble-or have It thrust upon
them - was done In this case.
It Is more than possible that the
states insurance enterprises would
not have been successful If they had
been administered less honestly or
less capably. Few will contend that
the best method Of selecting business