The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1933-01-23
Member of The Associated Press
Foreign Representatives
SMALL SPENCER, BREWER
Incorporated)
CHICAGO NEW YORK BOSTON
Scrip

CHICAGO NEW YORK 6OSXON
Scrip
OF all the reports and documents
which have been filed with the pres.
ent session OF the state legislature,
none contains more food for thought
CT cause for sober reflection than
that which State Treasurer Dale sent
to the assembly Saturday.
II. touches, as nothing yet present.
ed to the lawmakers has done. the
heart OF the states financial prob.
lem. 1t discloses, coldly and without
emotion, the condition which we are
facing now and the prospect Of what
we shall have to face In the future.
AS no amount OF argument could do,
j. points to the necessity OF cutting
expenditures to the bone and Of
building up the states revenues.
In the normal course OF govern
ment either of these measures is dis
agreeable. Taken together they COM
prise a most bitter dose-but they
are inevitable.
It Is either do that or let the states
credit fall into disrepute. permit Its
bills to go unpaid and, before reor-
ganization can come, condition OF
at least temporary chaos. The facts
are bitter indeed, but Treasurer Dale
deserves credit for presenting them.
Only when a situation is squarely
faced can it be approached properly
or solution found.
The proposal for the issuance OF
state script is at least interesting.
It is based, Of course, upon the ex-
perience OF cities and communities
elsewhere which have been hard
pressed to find q medium Of ex-
change. In essence. it is merely 9
subterfuge to get around the consti'
tutional Limitation which reserves K
the federal government the right K
coin and issue money.
To either approve or condemn thu
proposal without adequate investiga
ton would be folly. It is one which
should not be accepted or rejected
lightly.
As to the willingness Of the vas
majority of our citizens to accept tn
plan If it is feasible there can be n,
question. North Dakota is in a posi-
ton where the bulk of its citizens arr
willing to try anything which give
real hope of lettering conditions an,
restoring purchasing power to it
citizens. The major question. there
fore. is simply Twill it work?"
In considering this phase Of tn
proposal it is necessary, first Of al
to give serious study to North Da
kotas business and commercia
makeup and the probable effect
will have upon the businessmen an
others who would be called upon t
accept 1t.
II the notes or scrip passes readil
es q medium Of exchange within tn
state, the question is not completed
answered. Much of the goods sol
within the state come from else
where in the nation. Because we ar
the most completely agriculture
state in the union, We have no fac
tories within our borders whicl
could assist in making the plal
workable.
For certain Of his uses the Nortl
Dakota businessman could max
scrip serve in place Of money. Flo
other uses an attempt to do 50 woul'
be both silly and futile.
The jobber or wholesaler at s,
Paul or Minneapolis certainly woul
not accept it in payment for dr.
goods. canned stuffs or other mer
chandise. He would demand col
OF the realm.
It might be used to meet a par
Of local payrolls but not al. II tn
grocer at Bismarck, Minot, FArg'
or other center would accept 1t
payment Of food bill It would OF
erate at least In part. But the hold
O. could not pay the average insus
auce premium with 1t and 1t would B
unavailable to pay . bill contracte
without the states borders.
The plan suggested. even II
works, also has obvious Inequalities
j I. operable II would help the ban
OF North Dakota and the colectio
OF taxes but the man who did ne
happen 70 owe The hank would -
ceive - benefit. Likswise the ma
/ Who. y dint q sacrifice and indul
I try has managed to pey his taxe
! would receive no I'D.
1 IN essence the proposal Is . sale
/ tax. since the person accepting I'll
/ scrip would have to add enough I
I his selling price to purchase the three
! cent stamp which would be attache