Show f I JA e ic I 7 f. f u L L' L J WASHINGTON D. D C Special C.-Special Special correspondence correspond The correspondence The nce The case of Green and two forty taxpayers versus Frazier has come before the United States su supreme supreme supreme su- su preme preme court It se seeks ks to test the con constitutionality constitutionality con con- of ot the North Dakota State tate bank tank which has now been running for eight m months The banking Interests of ot St St. Paul Pauland and Minnesota charged farmers usurious usurious rious interest rates The farmers de decided decided de- de to have a state bank of their own an and get money for their mortgages and I crop moving without paying 10 12 and 14 per cent The Minneapolis polls andSt Paul bankers bankers' hired lawyers and at att attacked at- at t tacked the constitutionality of ot th the en en- en- en This was th the origin of ot the case of ot the two forty-two taxpayers versus vers versus ver ver- sus s sus s etc Three lower courts courts' have sustained the legality of ot the bank They have 1 held that pocket picking is not a vested vested vested vest vest- ed interest of ot course not in those words but substantially Judge Amad Amadon n of ot the federal court rendered an opinion on the subject which Is Js likely to become a classic in the history of ot the fight tIght for peoples people's rights Of course the United States supreme court as now constituted ted is liable ta do almost anything It has been a ty fifty ty court on almost every important import import- ant Issue recently before it The Bank of ot North Dakota Is the first state bank to be created since some time In la 1848 It has total deposits deposits de de posits now of ot 34 million dollars and I has already loaned two millions to farmers on their land Its monthly clearings it it clears for the private state banks banks are are 45 millions a month It has applications for tor eight t millions of loans o op farms It Its I loans a are e made at 6 per cent with the privilege of ot taking twenty years to pay the loan North orth Dakota farmers have e become I I mortgaged to Eastern capital to the j amount of ot 20 million dollars and this i mortgage is going to be gradually refunded re- re j funded by bv home capital and the Interest interEst Interest Inter- Inter est reduced from 8 87 7 per cent to 6 per j c cent nt |