The Nonpartisan Leader Newspaper, February 15, 1917, Page 8

il | | | HE North Dakota senate I killed the people’s measure for a new constitution for North Dakota. This pro- posed mnew constitution among other things proposed to use a small part of the bhillion-dollar credit of the state of North Da- kota to guarantee bonds issued as a debt against state-owned mills, elevators and packing plants to be erected by the state. The bonds would be secured by the state-owned plantd and their in- terest_and principal would not have to be paid by taxation, but would be taken care of by the revenue of the industries: The Nonpartisan Leader has said that the North Dakota senate killed this plan at the command of BIG INTERESTS OUTSIDE THE STATE—that the senate voted exactly as the big mono- polies, food trusts and speculators, grain combines and big financial interests now exploiting the peo- ple wanted the senate to vote. The Leader has said that the deal to kill this people’s measure was maneuvered by politicians and a certain class of business men and lawyers IN NORTH DAKOTA whom these big interests OUT- SIDE THE STATE control. The Leader did not make these assertions without proof ready to hand. The Leader on this page herewith produces a part of this proof, sufficient in itself to prove the case completely. SAMPLE OF METHOD OF BIG INTERESTS The letter reproduced on this page (photographic copy) is a sample of the methods used by the BIG INTERESTS OUTSIDE THE STATE in preventing the people of North Dakota from getting what they want. The letter re- produced on this page is a sample of the kind of letters North Dako- ta senators got and which they listened to and acted upon. This particular letter is from a big finanecial firm of the Twin Cities. This particular letter was sent to County Auditor C. E. Best of Ran- som county. Doubtless every county auditor and every banker in the state and others of influ- ence got one or many like it—if not from this financial firm, then from similar sources, represent- ing the financial power of the Twin Cities. Let us analyze this letter from OUTSIDE THE STATE. It is from Kalman, Matteson & Wood, ‘‘investment brokers’’ of St. Paul, Minn., one of the big financial firms of the Twin Cities. This firm ‘‘can see nothing to be gain- ed’’ by letting the people of North Dakota have what they almost unanimously demand. This firm hopes that the individuals in North Dakota to whom it writes ‘“will use their position and in- fluence’’ to persuade members of the legislature to betray the peo- ple. Everybody knows, and this firm doubtless does also, that it would be useless to bring any in- fluence of this kind on Nonparti- san League representatives, who constitute a majority in the lower house. So the letter means that the ‘‘influence’’ is to be brought on the senate, which Big Business. thinks it can trust. Its faith has not been misplaced. This OUTSIDE - THE-STATE firm is part of the financial sys- tem of the Twin Cities. The financial system of the Twin Cities WhoisRunning North Dakota? A Letter From Twin City Financial Interests Opposing Farmers’ Plan for Revision of the Constitution is interlocked with other Big nate the food speculator, gambler constitution the people want. Tt Business interests, including the elevator, grain and mill combine and the packing trust. These interests are against the state of North Dakota adopting a consti- tution that will permit the erce- tion and successful operation of state-owned mills, elevators and packing plants, to bring the pro- ducer and consumer closer to- gether, give the producer more of the wealth he produces and elimi- and useless middleman. So the financial firm-whose let- ter is reproduced on this page brings pressure on influential North Dakota citizens who can be depended upon in turn, the firm thinks, to bring pressure on the North Dakota senate to defeat House Bill 44. This finanecial firm OUTSIDE THE STATE, does not state the real objections the Big Interests have to the kind of a THE LETTER KaLMAN, MaTTESON & WooD INVESTMENT SECURITIES SAINT PAUL MINNEAPOLIS Auditor, Ransom County, Lisbon, North Dakota. Dear Sir:e oonaLfian W MATTESON we.wooe PloNEER BuiLpiNe ST.PauL, Minn. Fedbruary 1, 1917, We have been advised that a possibility exists of legislation in North Dakota this Winter that will remove the existing dedt 1imit of political sub= divisions, such as counties, townships, cities, towns and school districta. As dealers in bonds and warrants of such issuing bodiss, we can see nothing to be gained by legise latlon of this character and much to be lost. The high credit of Norih Dakota municipalities is largely due to the present conservative 1imit of indebtedness. If this limit is done away with it will reswlt in many instances. in reckless finmancing, loss of high credit and consequent bigher interest rates. The credit of nunicipalities is determined largely on the same basis as individuals, which means thag the greater the indesbtadness the greater the riske. There- fore, if.no safeguards are provided bond holders are left unprotected against éxtrava, officials, gant and someiimes dishonest We foel sure you will agree with us as to the wisdom of not changing-the present law and hope you will use your position and influence to persuade your ropresentative at Bismarck to work to this ende Yours very truly, L) KALMAN, MATTESON & WOO A ,arm—n/ Kalman, Matteson & Wood, ——— e e R e e T THE SHEEP AND THE WOLVES HER J Editor Nonpartisan Leader: Lansford, N. D., Jan. 26, 1917. I will write to let you know that all the farmers and quite a number of the business men around here signed and sent in petitions to our senator, L. P. Sandstrom, telling him that we favor the new constitution and the carrying out of the League program in every particular. The wails and the howls of Big Biz as voiced through the Grand Forks Herald and its kind supply us with something to laugh at these‘dull days on the farm. While in the bank yesterday I picked up the issue of the 23rd of January of the dear Herald, and I saw on the front page an article telling us our farmer legislators act like a lot of sheep. Well, at any rate we farmers back home know that they will vote to keep the pastures of North Dakota for themeslves and the rest of us sheep of the state, and we know that before they get through down at Bismarck they will vote for some laws to either keep out of the state or else muzzle the pack of wolves that Big Biz has been in the habit of turning loose on us. . I also saw in the same issue of the Herald where they had scared up one lone farmer of Hannah to write them a letter of protest against the League program. I believe they called him a big stock raiser. Chances are the gentleman from Hannah raises mostly bank stock on his ‘farm WILLIAM though. FOR IT FIRST AND LAST Editor Nonpartisan Leader: I certainly stand for the League first, last and all the time. I am an old soldier and hope to live long eonugh to see the farmers have something to say, but under the present system they have no right to do anything but work. They can raise a crop or try to and in Leola, 8. D. MARTIN. ——————————————————————————————————————————————— the fall when threshed a great many are obliged to sell; then down goes the price. There are millions going out of this state and other states that the farmer should have. Find enclosed a clipping from tye Aberdeen. Daily . American. This Christopherson was speaker of the house at Pierre two years ago. R. F. SUTHERLAND. seeks to SCARE those to whom it writes. It says that it is opposed to the constitution the people propose because it will raise the debt limit or remove it entirely; thus, the letter intimates, making the credit of the state and its municipalities less reliable. The letter is virtually a THREAT to the people. of North Dakota from interests OUTSIDE THE STATE. It is a THREAT because it earries the intimation -that the state will not be allowed to sell its bonds and other securi- ties, at least at not so good a price, if the people’s constitution is put through. The big finanecial insti- tutions will boycott the bonds. Is that what is meant? Of course the letter misrepre- sents what the farmers’ senators and representatives at Bismarck sought to do in House Bill 44. That bill did not carry the removal of the debt limit for the state and cities. The direct indebtedness of the state was fixed at $500,000 in Bill 44. The limit to which the state could guarantee bonds of state-owned plants would of course be limited to the value of those industries, because it was proposed to make the state-owned plants and their revenue respon- sible for the payment of interest and principal on the bonds, and bonds could not be issued and sold if they exceeded the value of the securities back of them. So there was really a debt limit, direct and indirect in House Bill 44. " The letter, besides being OUT- SIDE-OF-THE-STATE interfer- ence in North Dakota’s own busi- ness, carries the slur that the peo- ple of North Dakota will permit irresponsible people to seize office and plunge the state into- wild orgies of spending. The writer of the letter is ignorant of or ig- nores the fact that the great com- mon people’s organization that is going to get state-owned ' indus- tries for the people is also an orga- nization that is turning irrespon- sible politicians ‘out of office and cleansing state polities. BEST ANSWERS . FINANCIAL FIRM This particular letter was well answered by Auditor Best of Lis- bon, Ransom county, who wrote the writer of the letter as follows: Feb. 6, 1917, Saint Paul, Minn. Gentlemen : Your letter regarding the laws about to be enacted by the legis- lature of North Dakota received, and in reply I will state that the people of North Dakota resent the interference of people outside of their state in the making of their laws, : We believe that we have the most progressive people in the United States in North Dakota and that they are competent to malke their own laws, without aid from other states. As to that part of your letter wherein you are concerned that we might elect DISHONEST OFR- FICIALS; have you not read in the papers how the people of this state have risen and overthrown ‘that kind of government? I assure you that if people of other states will let us alone, we will take care of that kind of of. ficials. ; ' Very truly, 4 C. E. BEST, County Auditor, = »