The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-07-20

All rights of republication OF all other
matter herein are also reserved.
Should Lift Moratorium
Most North Dakotans have settled
down to wait for the voluntary lifting
of the moratorium proclaimed by
Governor LANCER in the hope that the
executive soon will see fit to lift this
handicap to the return of normal
conditions.
Meanwhile, reasons why he should
do so continue to multiply.
Much is said about the manner in
which this order has prevented the
election of persons from their home
steads, the villain in such pieces be-
ing the heartless corporation or the
hard-hearted individual ordering the
foreclosure. In justice to the gov
ernor 1t may be said that there are
a few such cases which have been
helped under his order, but none
which could not have achieved the
same result through an orderly ap-
peal to the courts.
Little mention is made of the nu-
merous cases in which landowners
are being deprived of their rights by
individuals who see in the moratori-
UNI proclamation a chance to evade
payment Of their just debts. In many
cases these mortgages are held by aged
persons who have their all invested
in them and the picture which they
present is quite as pathetic as that
of the individual dispossessed from
home as the result OF foreclosure
proceedings.
Most important, however, is the
handicap which the moratorium i'm
poses upon the acquisition Of new
homes and farms on small down pay
ments and use OF the instalment sys-
tenn.
A Bismarck real estate dealer H.
illustrates the point with q story of
his personal experience.
He had q purchaser for modest
home, to cost $500, and the owner
wanted to sell, but the prospective
buyer could pay only 500 down. The
seller had to trust him for the re-
mainder.
The buyer had been told to demand
q contract for sale but the owner was
reluctant to give lt-and for good
reason.
Under the old system there would
have been no question about it. In
case Of default the contract could
have been foreclosed in from 30 days
to year, depending upon conditions
and the decision of the court.
Under the moratorium, however,
the purchaser could pay 500. move
into the house and keep possession
indefinitely WITHOUT paying another
cent.
After much legal pow-wowing the
thing finally was arranged by exc
cutting a conditional lease, which was
unsatisfactory all around, clearly not
as good an arrangement as the con-
ditional sales contract would have
been. ....
There is and has been no question
that the moratorium is and has been
adversely affecting North Dakota
business. For firms which must deal
outside the state it has had the ef-
feet OF shrinking credit and putting
their affairs under a cloud of misun-
derstanding and suspicion.
The governor should review this
situation with an open mind and lift
the moratorium without delay. It
- doing no good and whatever bene-
tit it may have exercised has long
since been dissipated.
The federal credit set-up is COM
ing into the state to aid distressed
home and farm owners and the
courts are amply able to see that
justice is done.
The political benefits, If any, also
have been exhausted and the gesture
is handicapping normal development
Whether or not he can think ur
something new upon which to claim
credit. Governor LANCER should re.
gard the moratorium as lemon from
which the last drop of juice has beer
extracted.