The Nonpartisan Leader Newspaper, August 3, 1916, Page 14

et By F. O. i GREAT deal has been said about ! the management ' of the federal | reserve bank at Minneapolis and !its relations to the farmer and the {grain business. The .law- that created this institution provides that each national bank must subscribe to the capital . stock of the federal reserve bank for a sum equal to '3 certain percentage of its capital stock and each state bank that complied: with icertain . ‘regulations should become a member bank by subscribing to the capital- stock. It therefore is apparent that the member banks own the capital stock. and. therefore control the bank. The government has only representation on the board of directors, not control. And so long as the federal reserve bank does not violate the laws, the govern- ment cannot dictate how the business shall be conducted. -This institution is simply what the law ' made it, purely and simply a reservoir that the banks can tap in times of stress, where they can. quickly if necessary convert commercial paper into cash to avert a panic. It was never intended to be used as a club to reduce interest or inflate the-money market with cheap money. It does not provide any means for serving the people except through the member banks who own and coatrol it. There.-has been a great deal of talk about the 3 percent rate on money to move the wheat crops of the northwest. This is known as commodity paper. The member banks that avail them- selves of this rate can rediscount this paper at-3 percent provided they loan it at 6 percent. It is termed commodity paper because it is secured by ware- house receipts. - This looks good, but @\ly $23,000 of this paper was redis- counted ‘out of a total volume of redis- counts of $6,700,00 one percent of the total discounts[gince September 27 of last year:) Not enough to finance the operation of one healthy Farmers’ Elevator company for oue day in any good live country market. It seems that this 3 percent commodity rate is just a lot of dust intended to raise a fog that will obscure the issue. he farmer wants first of all' a free, fair and open market for his produce; "government grades and weights. Let the government do for the farmer what it has for the banks, provide ware- houses for storing their produce where - negotiable warehouse receipts are issued for the stored produce. And let ‘the government provide a currency that may be loaned direct to the holder of the warehouse receipts. at a 6 percent rate covering storage, inter- est and insurance, then see how small $23,000 in loans on the grain crops of the northwest will look.] Also reckon how much money the farmer could save - —amateur and professional. pay ONE:DOLLAR EACH. \ (=] ;the state, s of ordinary farm scenes and lan 's the rate of $1 each. " Let us have photographs! The Federal Reserve Bank fl’ar just one-third of - The Leader is anxious to get good news pictures, photographs of events of unusual interest—interest to all the people of the state of North Dakota and the northwest. : : For pictures that are accepted for pub]icatibn the Leader will It may be a picture of a prize crop, of an early harvesting 'scene, of an unusual freak of wind or rainstorm, of a flood scene, f a town celebration, of an automobile accident—anything that is ‘unusual or illustrates an interesting feature of farm or city life in Get out your camera when anything unusual happens in your cinity and 131’.’ -you get a good prix_lt send it along to the Leader: * The Leader will also be able to use a féw good artistic pictures a contest for art pictures of North Dakota life. Until .then all pictureé—'ng'e@fo_r-»"u c HELLSTROM by not being compelled to sell his crop on a professionally controlled gamblers’ market. . 4 Why waste our time quibbling over a little pettifogging effort that only pro- duced the insignificant results of $23,000 as measured by rediscounts on the farmers’ grain when real and per- manent relief can be had through. government - warehouses and- govern- ment loans direct to the producer? DAY OF FREEDOM IS HERE We have a Nonpartisan League in North Dakota, as-strong and growing as they have in other states. It is just what its name signifies. A real indepen- dence from the shackles of the old par- .ties. The people, and especially farmers in North Dakota, have been made hobby horses for the politicians of this state to ride into office on. For years they have been saddled, bridled, and guided by a few incompetent office scekers, and were working tractably and bridle-wise not knowing or realizing their tracta- bility through usage as common beasts of burden until this very late date. But a failure through carelessness and the fancied security of the elite and 'cle- ver bosses ever riding us through rich pastures of fresh, young, juicy, verdant and delicious native green grasses, and at feeding time, hobbling us out on a barren hillside, while they regaled them- selves with the choicest morsels and pure cool spring water, to realize the equip- ment, through hard and continuous use, was wearing corns and bunions on our shoulders, while the fast coming frail- ness of the rusty bridle, so long binding us to the thankless bondage, was soon to give way and set us free. . But the day of freedom from the po- litical yoke has arrived. The bridle . broke. We have kicked off saddle and passenger. Both lie along the roadside in a badly battered condition while we roam the political field free farmers and laborers, unhampered, and unshackled.—~NEW ROCKFORD" CAPI- TAL. - . BE GOOD LOSERS There is a movement on foot to trim the Nonpartisan League by joining the Democratic vote and the - disgruntled Republican vote this fall. Over 40,000 Republican voters, the majority, cast . _their votes in favor of the farmers’ plat- form and the rule- of this nation is “majority rules.” It’s the duty of every Republican citizen to take the medicine meted out to them by the majority, and . should do so like good losers.—BUF- FALO. EXPRESS. An Offer of Great In- terest — See Page 24 ........‘.......Q......0........,.OO....................9 Wanted---Interesting Photo- - graphs for Publication in the Leader This is;a-n anndlihcement of Special interest to photographers s. - Later on we may have (X X ) .......‘..b....."..9....0...........Q....‘....... rehased will be paid for at - AN INSULET TO FARMERS. The very latest and newest political organization was launched from its Far- - go incubator Monday, June 5, 1916, and christened the Good Government League. The idea is a good one. It is proper that all sides of the political field be cultivated. And, by the way, when it comes to tilling the-field of politics pa- triots are not wanting. . g It is unfortunate, however, that no code of principles is enunciated by this new movement. Its proponents simply advise everybody to vote safe and sane for the principles and candidates of either of the two parties. Anything to beat the farmers’ movement. The inference is, however, that the farmers have nothing to complain of; that they are a lot of hay-seeds liable to do any.fool thing that is proposed for them; that 75,000 farmers haven’t sense enough to know what decent government is, nor how to perform executive or legis- lative duties; that direction of those func- tions belongs not to the “big five” but to the “big four” that hitherto has dictated the policies of the state, including its educational institutions. So far as the Nonpartisan League is concerned, it being a purely farmers’ movement, what it may accomplish once it is in authority is wholly aside and independent o f the men who organize it. The good sense, character and integ- rity of the farming population is at stake and will be reflected by their pol- icy and their every official act. The great fear that the state will be ravaged by the farmers’ movement is anything but creditable to farmers as a class. That the “big five,” whose sole function is that of organization, will ex- YOU MEN WHO ARE NOT ACQUAINTED with the thoroughly superior goodness of merchant® tailored clothes, who have not experienced the satisfaction of knowing that your clothes are yours alone, make it a point to visit us and have your clothes made for you and measured to you personally. ROLF BROS. Merchant Tailors Grand Forks, N. D. Bacon Block LR PPLLHPOHL L ert any material influence upon future legislation not sincerely desired by far- mers as a class is an insult to the men and their families to ‘whom the state owes its present state of development. NEW ROCKFORD STATE CENTER. $$$$$$$$$$$$$$$$g Eastern Money to Loan on North Dakota Farms At Lowest Interest Rates $ 34 years of continuous busi- ness in this same office. $ Have helped hundreds to se- cure and improve their farms. $ Can help you. Inquiries solicited from Cass $ and adjacent counties, $ J. B. Folsom Co. $ Office 618 Front Street FARGO, Opposite N. P. Station N. D. $55555555555555$ New Lake Superior No. 1 Trout, 10 pound pails, $ Domestic Oil Sardines, dozen cans..... .87 Lipton Tea, yellow label, No. 1 Tea pound tins S 7 | 27 cent value fresh roasted Coffee, § pound can Write for our complete price list of every- thing good to eat and drink. C.S.Brackett Co. 21-23 Somth Fifth Street MINNEAPOLIS Established 1875 Incorporated 1901 Atten MINN. tion Grain Men We offer for sale elevators at Dazey and Walum, N. D, Each in good condition and at a reasonable price. Terms may be arranged for responsible buyer. Write, phone or wire DAKOTA TRUST COMPANY, TRUSTEE Fargo North Dakota Perfect Health and Nerve action come through perfect back- bone. - Try C hiropractic and get well. - M. J. FARNAND, D. C. Bottineau’s Pioneer Chiropractic Office four doors north of TFirst National Bank Bottineau, N. Dak. . Lady in attendance M‘ Valley Cziv flc_i' Marble Works Are you going to erect a monument or headstone this year? Don’t put it off until it is too late. no agents and can give the buyers better prices. catalogue work sold on a guarantee, VALLEY CITY Grénite We keep Write for our free and be convinced. All N. D. s> Yo*:t“.‘.’é’%:'@, 4 together. Write for circulars and prices. - Galvanized Steel Portable Sectional Built in sections and shipped knocked down, Has a galvanized steel bottom and- conical roof. Sections so mde that it can be very easily and quickly set up and bolted - Takes a third-class local freight rate and a fifth-class rate in carload loés; This bin is superior to any other bin upon the market; being rainproof, fire-proof, rust-proof, vermin-proof, durable and economical.’ G n . The only bin in the market re-inforced with a steel angle frame work. ‘. Grain can be run direct from separator into bin. = It can be moved arot d the farm by use of ordinary skids or taken down and stored when-not in l;‘:e. chti;n thz Lo_adcr Wheq PICN!,“N'MVOI’\(’»MM- GRAIN BIN MANUFACTUBED AND SOLD BY NORTH DAKOTA METAL CULVERT CO. % FARGO, N. D. Protected by U. S. Pat. No. 830440 CAPACITY AND 1500 -Bushels..........___..2430 pounds 5L gt - e i‘f