A socialist institution in a Republican state? State-owned Bank of North Dakota celebrates 100 years

BISMARCK — Amid a growing national debate over the merits of socialism, North Dakota Republican Gov. Doug Burgum issued a stern message.

“Socialism has no place in North Dakota,” his campaign tweeted in February.

It was quickly pointed out, however, that the state boasts two institutions with socialist roots: the Bank of North Dakota and the North Dakota Mill and Elevator. Burgum oversees both as chairman of the Industrial Commission.

The only state-owned bank in the country will mark 100 years in operation Sunday, July 28, with a community celebration the next day. The event, which will be held at its Bismarck headquarters, will include food vendors, speakers and tours of the bank's museum.

The festivities come as Republicans across the country, including President Donald Trump, raise the specter of socialism while political figures on the left, including some Democratic presidential candidates, advocate for policies like Medicare for All and the Green New Deal to combat high health care costs and climate change.

Read more: https://www.inforum.com/news/government-and-politics/3982518-A-socialist-institution-in-a-Republican-state-State-owned-Bank-of-North-Dakota-celebrates-100-years