The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-01-23
Need Four Million to
Pau Interest for 1888
State Treasurer Dale Presents Fiscal Dilemma Fac
ing North Dakota Legislature; Offers Scrip Plan
to Aid Farmers, Bolster Tax Collections

to Aid Farmers Bolster Tax Collections
The text of the message which State Treasurer
Alfred S. Dale sent to the legislature Saturday is
presented herewith.
The document outlines the states financial
dilemma in startling terms and informs the law
makers that it will be necessary to rise 81 OOOOOO
to pay interest on state bonds for 1888 in addition
to 100000 to meet the states operating expenses.
With tax delnquences mounting, Dale offers
the opinion that it cannot be done under present
circumstances and presents some suggestions Tor
meeting the crisis, among them proposal to adopt
system of state scrip" which would circulate in
place of federal money.
The text of the message follows:
TO THE TwENTY-THIRD LEGISLATIVE ASSEMBLY:
feel it is my duty call your attention to the fact that
the credit Of the State of North Dakota is at stake the
matter providing funds for the payment of interest
the bonds issued by the when the interest
on July 1st Already has
$2255ooo0 the Bank of North Dakota
Certificates Of Indebtedness pay the interest DUE APP
proxmatey 100000 additional must be borrowed to
pete the payment of interest due last January 1888
million dollars be available next July 1s and very
likely another million dollars will be required for the January
1884 interest payment There sufficient funds in the
Real Estate Bond Principal Fund all real estate bonds
falling due in the next two years.
also wish call your attention the fact that the
running for the state for its institutional depart
purposes little less than half million
dollars month, roughly $5000O00.O0 annum, not
including highway construction maintenance
latter being obtained from the tax and the license tags
The total collections for the past six months to the General
Fund have been 755s but indications that the
payments will fall off considerably. Perhaps 81 1000
be collected during the next few months after which
collections will fall off very materially.
TAX DEMANDS GREAT
The financial requirement for the 1888 conservatvely
estimated, to be raised by taxation, will be-
Interest North Dakota Bonds ..-..$4 600, 100000
State Expenditures .........-...-...... 10000
The total available collections this huge require
will not exceed 100000 it is estimated This
figure appear high, but it is discounted zoe,
should tax collections be better than anticipate it will
still leave 81 100000 raise. This does not include
those from the gasoline tax and the license tax
sales, which amounted to $24249090 for the fiscal
While this being required by state the other
taxing units throughout the state will be demanding not less
than and if present plans programs
the taxpayers will be called upon for some
$40 for all at the lowest estimate
such interest and principal payments bonds due by
the state and counties and other political subdivisions More
the principal payments which should be the
State Treasurer by the farmers having Farm Loans There
10000 such oans) will be made This will curtail
the Principal Real Estate (Snking) Fund, which deficiency
men at this time Thus will be storing up burden
for future years which rightly belong to the present time
chaotic condition. Fiscal Officer of your State
humb present the following suggestions for immediate
First, that Bill be Immediately introduced transferring
cent of the gas the General Fund for the
two to furnish funds to pay off the legislative
bers salaries and and to conduct the other
functions of North Dakota
Second that Bill be introduced and passed transferring
the State Bridge Fund and other funds essential for
immediate needs experimenting 100000 to the General
Fund.- or to the Real Estate Interest Fund The present
emergency demands the transfers.
Third that provision be made for continued quidy
Of the Bank Of North Dakota in addition nsurng suf
cent funds to make interest payments This be done
direct property by dverng 1c of the gasoline tax
by of the naments due upon farm loans the
farm
tax upon real estate q special upon some CON-
modify form Of sales tax may bring in sufficient
funds The income must be certain direct additional
levy real estate ut this time will not with favor
from the taxpayers, though be for the laudabe
purpose of preserving the states credit do not favor
tax levy upon real estate The sales tax will be resented
PROPOSES NEGOTIABLE CERTIFICATES
do however, wish to offer painless, self-lqudating
relief plan which think will enable the farmers
their debts to the state both their farm loans and for
their taxes.
A SELF-LIQUIDATING FARM RELIEF PLAN
BY Alfred S. Dale State Treasurer
This Farm Relief Plan ID offered Emergency Meas
in this financial crisis facing North Dakta, until such
improve the farmers lot It is designed assist the
Bank Of North Dakota facing deficiency for
its interest payments during 1885, It will relieve the already
overburdened taxpayers in villages
and cities who must make up this deficiency.
THIS PLAN PROPOSES TO DOUBLE THE PRESENT
and opportunity to iquidate his debts It will
bring speedy relief It simple It requires costly
chinery for its operation
Many suggestions have been help the farmer It
generally agreed that if he received price for his
wheat his pork, his beef his poultry, he would have
difficulty in paying taxes and mortgage instalments It
also quite universally conceded and acknowledged that
form of imitation Is necessary to bring this about
Otherwise the farmer hope to taxes to lift
the mortgage burden resting upon Agriculture.
Germany got rid Of its domestic debts by initiating it,
ated several veeks With hi y.k rze leav.. -.