The Nonpartisan Leader Newspaper, April 28, 1919, Page 3

In the interest of a square deal for the farmers VOL. 8, NO. 17 North Dakota Bankers Back State Plan ==/ Nlonpartigan Rader Ofiicial Magazine of the Na:ional Nonpartisan League ST. PAUL, MINNESOTA, APRIL 28, 1919 A magazine that dares to print the truth Z WHOLE NUMBER 188 Co-Operation to Make Institution a Business Success Is Pledged to Industrial Commission and Manager Waters at Conference in Bismarck ORTH DAKOTA bankers, instead of taking their cue from the Twin Cities bankers, who raise -their hands in horror at the idea of a state-owned bank, have investigated the plan of themselves, and have found it : good, s : Meeting at Bismarck recently, more than two score state bankers pledged energetic co-oper- ation’ for making the state bank a success as ‘a business institution.® A committee of five mem- bers, headed by W. C. McFadden of Fargo, secre- tary of the . North Dakota Bankers’ association, was named to confer with the industrial commis- sion and Manager J. R, Waters in determining the policy of the institution and the rules under which the bank will operate. The other members of the committee are F. W. Cathro of Bottineau, J. J. Nearling of Jamestown, I. P. Baker of Bismarck and Samuel Torgerson of Grand Forks. A large part of the confidence of the bankers in the new state enterprise is believed to be due ‘to -the appointment of Mr. Waters as manager. . During his term as state inspector of banking, Mr. Waters gained the confidence of the bankers and the people alike, and the wisdom of his selection as manager is shown in the recent conference of more than two score of bankers with the industrial commission and Governor Frazier. 2 : In addressing the conference, Governor Frazier said: R “The state of North Dakota is going into the the Bank of North Dakota for . _ banking business and the industrial commission GET .OUT- AND PUSH! feels that it needs the co-operation and advice of bankers of the state in its new undertaking. The financial interests of the state are fundamentally paramount to any other, for without credit and in- tegrity none other could exist. We want the co- . operation of the banking fraternity and that’s why we have called you here.” Several of the bankers had come to the meet- ing fearing that there might be some founda- tion to the wild rumors circulated in ccrtain newspapers regarding the effect the Bank of North Dakota would have on private business. When Governor Frazier and Manager Waters assured them that the policy of the commission — was to build up industry and strengthen busi- " ness conditions, rather than to disturb and tear down, there was a noticeable enthusiasm manifested. BANKERS ARE REASSURED BY POLICY OF COMMISSION The remotest fear of.any tendency to disturb business conditions in any section of the state was * dispelled when the bankers were told that the pol- ° icy of the industrial commission and the bank man- agement in connection with the public funds, re- quired by law to be deposited in the Bank of North Dakota, would be to redeposit -immediately these funds in the member banks in the localities from which:the funds originated. Further confidence also was gained when the manager assured the conference that the policy of the commission was to get away from the one-man e | .~ John Baer hits the nail on the head with this cartoon. Good intentions alone won’t take any one far on the road to progress or in any other direction. It needs a little muscle and elbow grease --and” willingness to work with others. [ othes The unorganized farmer makes the mistake of thinking that somehow, sometime, some way, “everything is going to come out all right.” He is waiting for - someone to come along and push his wheelbarrow along, with him on. th lishment of the bank goes on-apace. ~ bank idea. He announced that the institution would be divided into various co-ordinate branches, such as departments for bonding, farm loans, rediscount- ing, auditing, publicity and statistics, the heads of which are to form a board of governors. In keep- ing with the most substantial modern banking meth- ods the board of governors, of which the bank man- ager is to be chairman, will determine the attitude of the institution on the various problems that may arise, under the supervision of the industrial com- mission. . Governor Frazier, J. N. Hagan, commissioner of agriculture and labor, and Manager Waters were given assurance by the bankers present that they were heartily in sympathy with the bank movement and assured the commission of their hearty co- operation in making the institution a business suc- cess on the plan as outlined. A Among the various suggestions offered by the bankers in reference to many of the details in connection with the operation of the state bank, it was suggestced that an organized pub- licity effort be made to counteract the false impressions that have been circulated concern- ing the state’s credit by unfriendly newspapers. In’ the ‘meantime the organization and estab- Offices have been opened in the capitol building and a building in Bismarck will be leased as temporary quarters for the institution. Not only the bankers but other business men. of the state are heartily in accord with the plan for the bank and are co-operating in every way to make it a success. When bankers on the ground indorse the plan it may be concluded that the Bank of North Dakota is a good business proposition. —_— = ~ fifi’~ e - . P ———— —Drawn expressly for the Leader by Congressman John M. Baer in it. But no one ever will do this. If the farmer wants to travel‘ along the road to progress he must get up and do something for' himself. The others who are traveling along the road to progress ‘—organized labor, organized bankers and organized business men —all have their own wheelbarrows to push. The farmer Jmust. : d. And he can’t wheel it if he keeps sitting