• Public banks worth pursuing
    October 25,2013
     

    Public banks worth pursuing

    The most interesting article in the Oct. 22 edition pertained to Gwen Hallsmith supporting the establishment of a state bank.

    Several years ago I had read about North Dakota having established one in 1919 and the fact that it was one of the few states in the black. This was before their current oil boom.

    Currently, most states deposit their money in private Wall Street banks, and we know who reaps the profits from that. If we had a state bank, these profits could be put toward projects that benefit our state. Other states are considering it.

    The public banking website will give you ample information about the progress that is being made in each state toward this goal. I salute Gwen for this, but I do not live in Montpelier, so I cannot express my great displeasure to the city manager and mayor. That is up to you Montpelierites.

    Nancy Wolfe

    Barre

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