PAPER MONEY
OF WAR TIME
4
East Tuesday the German Relchs
bank’s statement, covering a week In
which payments of $1,250,000,000 were
said to have been made on the third
Imperial war loan, gave some Interest
ing figures. Of the week’s increase of
$173,600,000 In the Relchatank’a cash
reserve, only $1,131,000 was gold—all
the rest presumably, paper currency of
the various sorts now afloat In Ger
many. Before the war the weekly In
crease or decrease In the bank’s cash
* holdings was usually made up, barely
to one third, of other currency than
gold. The present enormous payments
in paper money not only reflect with
drawal of gold from outside circula
tion by the Relchsbank, but the Infla
tion • of the currency Itself. For the
$172,800,000 added to the bank’s re
serve last week does not include the
imperial bank's own note circulation
Even that Is larger by $040,000,000 than
in the month before the war.
But Germany Is not alone In this ex
pansion of paper currency. The
French government has borrowed $1,
800,000 from the bank of Franec since
the war began, and the bank has In the
same period Issued $1,350,000,000 In
new note circulation. This Is not.
strictly speaking, a left handed Issue
of currency by the government, for
the notes are technically secuied (like
our own former national bank note
issues, also a war expedient) by gov
ernment obligations. Nevertheless, the
expansion of the paper currency goes
on. In France It Is now more than
doubt what it was at the end of July
1914.
The changes in England’s currency
have differed from those of either
France or Germany. The bank of
England’s own circulation is only $20,
000,000 larger than at the outbreak of
the war; and all of that is specifically
covered by increased gold on hand
But the so-called "currency notes’’—
the emergency Issue authorised in Au
gust, 1914—tell a somewhat different
story. The notes are put out through
the private Joint stock and savings
. banks, against pledge of approved
J commercial paper, with the govern
ment; in this way they closely resemble
our own so-called "Aldrlch-Vreeland
currency," of which some $361,000,000
(now all retired) was put out by our
; national banks in the early war
months.
The English ''currency notes" are
legal tender. The first officisl report
of them on August 26. 1914, showed
$107,600,000 then outstanding. A year
ago this week the total had risen to
$146,000,000; on December 31, to $192,
300,000; at the end of last June to
$226,900,000. Then came on even more
rapid Increase, until, week before last,
| the amount in circulation was no less
than $851,600,000, or double the note
circulation of the bank of England. A
special gold reserve, deposited against
them, rose to 74 1-8 per cent of the
[ outstanding “currency notes" on March
3. Since then, no more gold has been
added to that reserve; whose ratio to
outstanding notes on September 22 had
accordingly declined to 40 1-2 per cent
Such Is the movement of events, even
in the greatest of the European finan
cial states. Ordinarily some sign of
currency depreciation or gold premium
, would have been visible already—at
any rate on the continent, where gold
redemption of the central bank note
currency has been generally abandon
ed Yet, except for a month or two
In Germany—where the bid of a prem
ium on gold was stopped by a law
imposing fine and imprisonment for
such bids—there Is on the European
home markets no outward sign of cur
rency depreciation. Instead, the whol
ly novel spectacle has been witnessed
of German people handing over $260,
000,000 to the government bank. In
exchange for notes, and the French
people similarly giving up $178,000,00(
In fourteen weeks. This will long rank
as a paradox in economic history.—
New York Post.
aUBSCRlBB FOR THE NUOOHT
THE GREAT ANTIQUITY I
OF FLORIDA
For many year* the origin of the
peninsula of Florida has been the
subject of speculation among sclen
lists. Some sixty years ago the great
naturalist Louis Agassiz advanced the
hypothesis that the greater part of
the peninsula had bean produced dur
lng comparatively recent times by
successive growth of coral reefs along
Its southern margin, which has thus
been extended farther and farther Into
the waters of the gulf. A few years
later Joseph LeConte restated this
view of the organic origin of Florida
and suggested that the work of coral*
has been largely supplemented by mud
and other sediments dropped by the
gulf stream.
This hypothesis was generally ac
cepted as correct for many years, but
In 1881 Prof. Eugene A. Smith discov
ered that the greater part of the
peninsula of Florida Is underlain at
no great depth by limestones which
are not the work of corals and which
were formed long before the recent
epoch.
For the last 34 years these funda
nenlal rocks of Florida, often called
he Ocala limestone, have been thought
o be nearly equivalent In age to the
Vicksburg limestone of Mississippi
md Alabama and have been called the
Vicksburg group. A short time ago
J. Wythe Coke ,of the United States
geological survey, discovered that the
Ocala or so-called Vicksburg lime
stone of Florida contains many fossil
remains of sea shells of the same spa
cles that occur in the marls near
Jackson, Miss., and that are known to|
have become extinct before the rocki
at Vicksburg were deposited. It there
fore appears that the Ocala limestone
Us of about the same age as the Jack
ron formation and 1b considerably
older than has heretofore been sup
posed. Instead of being of recent orl
| Kin, as was thought by Agassiz and
LeCante, the Florida plateau was In
existence during the Eocene era—
probably two million years ago.
THE OFT-BESIEGED WALLS
OF CONSTANTINOPLE
-- \
- t
Surely the stone* of Constantinople
must thrill back an echo to the sound
of the battle that once more rages
before her walls. Bo many times be
sieged so staunch and untakable, the
stones which hurled back Goth, Pers
ian, Arabs (twice) Bulgarians, Rus
sians (four times); which defied Bay
esld II. and Murad IL, surely must
throb when martial standards take the
breeze.
. Not since that other Constantine
gave up with his life the ancient city
to the warrler Turk rom over the
Borporus, Mohammed II., so far baok
as 1461. has Christian ruled Constan
tinople. Mohammed brought to the
rebellious walla a revolution In war
fare-cannon of size hitherto unknown.
Now, with furthe» revolution In war
material, no more unbelievable now
than hts was then, the city Is Involved
So much of romance clings still to
the ancient Grecian empire that the
world wonders whether the new Con
stantine ever thinks upon the old;
whether his mind turns ever to the
palace of old Byztntlum, and he spe
culates If for the third time the walls
will yield the city, even as to the Latin
Crusaders of the early thirteenth cen
tnry, and after all these years the city
dedicated In the year 330 to the "ser
vice et Christ," again give home U
Christian church
Wl.h such a history there should
need little stirring save of memory to
.allant deeds. Wisdom Is In peace,
but what says the memory of Mlltladea'
heroic battle against the Persians, of
Leonidas and his tand with ths *00
Spartans against Xsrxes on the battle
field of Thermopylae, of all the other
deeds of might and stirring arms ?
But the Creek was ever wise as well
as brave, perhaps In wlllness he sees
a bigger victory today.—Seattle P.-I.
LIFE IN THE
TRENCHES
Life upon the dally living of a sol
dier In the trenches Is shed by a cor
respondent of the London Times, who
j tells us that the average English sol
dier la better fed In war than in peace,
receiving as a dally ration the follow
i ing: One and a quarter pounds ol
' fresh meat and bread, a quarter of I
| pound of bacon, three ounces of cheea*
! and sugar, five ounces of vegetables, •
1
quarter of a pound of Jam, two ounces
of butter, some tea, aalt, pepper, mus
tard and a liberal allowanec of to
bacco. Tommy Atkins gets no rum
save upon the recommendation of the
medical officer and then hie allow
ance Is half a gill. The French soldier
vtctB only water, though his captain,
as a reward of merit, may on special
uccFslons allot to him half a point of
hr.hr wine. In the armies of the Teu
tcns, no beverages containing alcohol
are given In the regular rations, any
drunk must come by purchase or cap
ture. The marvel of this trench life Is
the low rate of disease. Thanks to
stringent care of the water supply
and to innoculation again typhoid,
cholera, smallpox and tetanus, It is
claimed that soldiers are healthier In
service than at home, though some
what more prone to rheumatism and
penumonla. Bathing Is never less fro
qen than fortnightly. The Intricately
scientific character of modern warfare
enforces sobriety and personal hy
giene as a price of efficiency; It may
be that war will be temperance's most
potent ally.—Boston Record.
NOTICK.
De yeu read the Daily Nugget and
Veep abreast ef the doing* ef the out
eide world? 3u been be now. 92.04 per
month delivered every night before t
•Mmk.
/
tnOHT AND DAY THE NUGGET IS PUTTING FORTH ITS BB53T EFFORTS TOWARDS TUB UP
«nU)INO OF NOME AND THE DEVELOPMENT OF THE RESOURCES OF SEWARD PENINSULA
Concerted Efforts Will Get Results
WE INVITE THE MINER. PROSPECTOR AND ALL OTHERS TO INFORM THE NUGOBT CONCERN
INO THEIR EFFORTS AND UNDERTAKINGS IN THE DEVELOPMENT OF THE HIDDEN WEALTH OF
THIS SECTION
‘ - LET THE WORLD KNOW WHAT YOU ARE DOING SO THAT OTHERS MAY BE ABLE TO SHARE IN
YOUR KNOWLEDGE. IT WTLL ALSO STIMULATE OTHERS TO SEEK AND OPEN NEW FIELDS FOR
DAILY NUGOBT EXPLOITATION.
„ monUl. EVERY HOUSEHOLDER; EVERY CABIN OWNER IN THE CITY SHOULD ALSO SEE THE WISDOM
°* - 0p HAVING THE HOME TOWN PAPER DELIVERED AT THEIR DOOR DAILY AND THEREBY ASSWT THE
_MM__—— PAPER IN HELPING TO DEVELOP THE VIROIN RESOURCES OF THE COUNTRY
! WEEKLY NUOOBH Concerted Action Will Not Only Help The Country,
*"*' ^ 1 But Will Also Help us all Individually
_i___n___jc^zL^=r;_, —ir
| FIRE ALARM SIGNALS
It.Standard Oil Co.
It.Cars ten* Cold Storage
14.J. J. Seanon Co., office
IK.. Headquarters Saloon
n.... . The Lobby
14 .Pioneer* Igloo
11 .. Flr« Paj irtment
81. ...Discovery Saloon
88.Yorkey’s Cigar Store
42.. .Third Ave. anil Lane’* Way
.. Kngina House, Phone Main 8? ..
7 whistles, water.8, Ore out
l
—
Mall for Kougurok and Teller leaven
the first and fifteenth of each month. '
Mali for other sections of Seward
peninsula and the outside closes Mon
days and Friday, at 4:8u, registered,
and ordinary mall, live o’clock p. m.
Mills arrive Thursday and Sunday !
Malls leave Tuesday and Saturday
morning.
ALWAYS IN STYLE
If you have your suit pressed, ole. n
ed and repaired by us—
We will make them lock like t.ew
We do dry or gasoline cleaning
We do steam cleaning
We melto alterations.
We do cleaning, preaCng and re- j
pairing for I-adles and Gentlemen.
We make a specialty of making anj
repairing furs
First-class workmanship
All work guaranteed Our prices at*
reaponabio Onoe n customer a. waysj
a customer
Come and nee u*. we will give you
our prices before we do your work
Wo i> pnrf'Rn te ynur patronage.
NOME TAILORING CO..
Between Bsgerstrom A Hagen and
T’ebror’g Jewelry 3tr raB
Calling Cards at the Niggc-t Offle
MEETING NOTICE
THP NOME BARTENDER’S (NIC'
' Loral *<!». B I. 1- of A. (Affillats-t j
with the A. F. of L ) meets every first j
S if; ph 111 ! ’ l I )
i
U
I
5 BOSTON l
l STEAM LAUNDRY S
I — - is
II N
« Rhene Main M «
< w
« - H
« *
a Have yew. laundry dens si ^
J tbs up-to-date laundry. Roufi.i >4
* dry work our specialty. C - c > r
I ? 4
m a trial end be convinced. »<
I Prc Pt O.II v.rv JJ
M .
YTTTYT YTTTJTTTT TY lltlt Cl’'
i
:! CARLETON & COMPANY f
J Ueneral hardware & ;
\ MINING SUPPLIES ;
j 310 Front bt. Phone Tloin 1 I j
t++*t *d^+h+++++^:-+-M--M-4 •}•:•*•}•
:: I
I Water f
1 * +
« » i.
;; For prompt service 1
Phone \' hite oo t
|
f Wm. Pan^man;
f ' +
ft 111 r m t r in m 1111 in n
/AV^/V*
jhJOSVIE jj
I cornt housf i|
AM) BAKERY j:
Rceommr.nd -ts clean and whole
some bread and p.ant'y of »!| i J
kinds. , >
Wo cater to fsirtl'y trade i 1
(Jrdsre f*r tMirUismin:i 1
promptly filled i ’
* -vlAArV-WV ,-*ArvVV\\ w V
f'A'VVWWMWfVVVbVeV W
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Save Money by i
Purchiislltg your i
goods, at I
j. net* sura
Wittenberg
Manager. J
Our Big Sale i s J
always on i
VWWfW^WWWWWW-Vt
«!* *• •' ♦ ♦ • *-• -• %• a •#-» a A ■*
I J
j Chas. W. Reed j
| Machinist 6 Bla< ksrnitt) j
j I
Oo.Whie l n*hte.« Moist- j
(loiters. Pti* nml Pipe
t Fitting'* |
l
: No. 5 hront St. j
,Hww«.nittni ;
:: BOARD of TRADE ::
ii Restaurant II
i; anH ::
:: ::
:: LUNCH COUNTER ■■
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;; ■“ ■*“" ~ <’
nodin i t!t Hilo, Prop. ■■
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I The |j
I* LOBBY ||
Wetleigrcn & i>ci£gfui j!
Proprietors ;!
V^WT^WWWvVVAVA^W/
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f Horseshoe {
Oao. Hall A Alban Hartman. \
Propflator* I
' PHONG MAIN 112 !
J WfcWltt HUNTER Hit ANU |
' ATHERTON BOURBwN
> Oiiact from Bor 1a4 W«r*ho»M l
! RAINIER DRAUGHT SEER !
F in rut Brand* of Winaa. Lquo'% f
1 j and Cigara. j
! wcrv^i'.rc vs.