In 1919, exactly 100 years ago, the Bank of North Dakota was signed into existence by being slipped into another bill for a grain elevator. This and many more fascinating historical details about the country’s century-old public bank are shared in the latest It’s Our Money podcast, featuring author Mike Jacobs. Co-host Walt McRee describes the episode:
100 Years and Counting
Great American institutions are often forged in controversy and tempered by time but endure nonetheless. One of those is the Bank of North Dakota, an anomaly on the American banking frontier because it is owned and operated by the State of North Dakota. The storied past of this revered institution is the subject of a series of interviews for It’s Our Money with Mike Jacobs, a former ND newspaper editor, historian and author of the bank’s Centennial book that describes its history. In this first edition we learn that the bank wasn’t even on the minds of the people who won the legislative power to create it! We also talk with philosopher, author and comedian Steve Bhaerman about a new effort to create “Functional Politics” – a sane idea for an “insane” world.
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