{"id":12467,"date":"2019-07-26T10:32:57","date_gmt":"2019-07-26T17:32:57","guid":{"rendered":"http:\/\/occupysf.net\/?p=12467"},"modified":"2019-07-26T10:32:59","modified_gmt":"2019-07-26T17:32:59","slug":"on-its-100th-birthday-this-weekend-bank-of-north-dakota-thrives","status":"publish","type":"post","link":"https:\/\/occupysf.net\/index.php\/2019\/07\/26\/on-its-100th-birthday-this-weekend-bank-of-north-dakota-thrives\/","title":{"rendered":"On its 100th birthday this weekend, Bank of North Dakota thrives"},"content":{"rendered":"\n
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PUBLIC BANKING INSTITUTE NEWS: JULY 25, 2019<\/strong>

The Bank of North Dakota opened for business on July 28, 1919, a full century ago. As its 100th birthday approaches, historian Mike Jacobs describes in the\u00a0Grand Forks Herald<\/em><\/a>\u00a0the conditions that drove the creation of the public bank \u2014 conditions that are echoed today. A\u00a0celebration<\/a>\u00a0will take place at the Bank in Bismarck on Monday July 29\u00a0(Facebook event<\/a>).

Jacobs writes:\u201cThe real catalyst, however, was a dysfunctional private banking system.\u00a0<\/strong>The state had far too many privately owned banks, more than 800 of them in 1920. Many of them were seriously undercapitalized and all of them were dependent on Twin Cities banks. At the same time, milling and transportation interests preyed on the state\u2019s farmers. A long effort to establish a state-owned terminal elevator failed, and\u00a0frustrated farmers took matters in their own hands, accepting a program to develop the state\u2019s economy by using the state\u2019s own financial resources.<\/strong>\u201d

Read BND\u2019s\u00a0updated website<\/a>\u00a0about the value BND returns to the state\u2019s residents today. For a full historical overview, see BND’s\u00a0new microsite<\/a>.\u00a0For more inspiration, read\u00a0Insurgent Democracy<\/em><\/a>\u00a0by Michael J. Lansing and watch\u00a0Northern Lights<\/em><\/a>, the award-winning film (Cannes) set in the bitter winter of 1915 that chronicles the beginnings of the Nonpartisan League.

In California, the California Public Banking Alliance has organized a\u00a0Public Banking 100 Years\u00a0Day of Action on July 29<\/strong><\/a>\u00a0to support CA’s Public Banking Act AB 857 as it makes its way through one last Senate committee, the floors of Assembly and Senate, and if successful, onto the Governor’s desk.\u00a0<\/td><\/tr><\/tbody><\/table>\n","protected":false},"excerpt":{"rendered":"

PUBLIC BANKING INSTITUTE NEWS: JULY 25, 2019 The Bank of North Dakota opened for business on July 28, 1919, a full century ago. As its 100th birthday approaches, historian Mike Jacobs describes in the\u00a0Grand Forks Herald\u00a0the conditions that drove the creation of the public bank \u2014 conditions that are echoed… Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/12467"}],"collection":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/comments?post=12467"}],"version-history":[{"count":1,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/12467\/revisions"}],"predecessor-version":[{"id":12468,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/posts\/12467\/revisions\/12468"}],"wp:attachment":[{"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/media?parent=12467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/categories?post=12467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/occupysf.net\/index.php\/wp-json\/wp\/v2\/tags?post=12467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}