Forty percent of the world’s banks are public banks, but there is only one public bank in the US– the Bank of North Dakota.
In 1919, progressives affiliated with the Nonpartisan League banned together to take over the North Dakota Legislature. They passed sweeping reforms, including creation of the Bank of North Dakota. This is an excerpt from a talk at the Unitarian Universalists Church of Tucson on Sept. 6, 2015. Pamela Powers Hannley announced her candidacy in this speech.