THE
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UEO. S. MAYNARD
sole Owners and Publishers
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NUGGET MINING AND DREDGING
MAGAZINE,
(Issued Annually in October.;
Price per copy.60c
Price per copy, mailed. 66c
Kales for advertising Bpace In any
of the above publications wlB be made
known on application.
PHONE MAIN 46.
Entered as second-class matter Feb
26, 1907. at the Postoftlce at Nome,
Alaska, under the Act of Congress ol
March S, 1878.
Copy for regular advertisement!
must be in by 10 o'clock on the day ol
publication.
City Official Paper
NOME, ALASKA, NOV. 20, 1915.
The statement of Bonar Law that
England is fast approaching bank
ruptcy is doubtless rather a rude jar to
the popular conceptions concerning the
supposedly vast riches and inexhaus
tible resources of that mightiest of all
earthly nations. For many years it
has been popularly held that Britain
was possessed of a wealth so greut that
there was little probability of any sit
uation arising whereby her financial
standing could be imperiled, it was
generally believed that whatever might
happen Britain would still stand, like
some colosus, firmly planted behind
her mighty financial bulwarks, serene
and imperturable, a veritable financial
Hercules whom nothing could disturb.
However, it has remained for one
short year of war to disclose the fal
lacy of this belief. Scarcely sixteen
months agone, to voice the opinion
that a war of little more than one years
duration would shake this financial
giant would have raised a smile of
derision even among the best Informed.
Yet, today, that very thing is happen
ing and this supposedly indestructible
financial power Is swiftly approaching
the day when she will be driven to ex
tremes to meet her obligations.
The odol of brass has, after all, feet
of clay. It Is not suggested that Eng
land is nearing the end of her financial
resources for this is far from being
the case. She can undoubtedly still
raise a fabulous sum by pledging her
multitudinous possessions but this is
neither expedient or desirable save as
a last resort. England is thus far from
being “broke,” In the popular sense.
She has, however, reached a stage
when the process of borrowing money
oust be discontinued for the reason
that the national indebtedness is
reaching such mammoth proportions
that the national revenues will not
sulfiee to support the government and
pay the enormous interest on her rap
idly growing debt which has already
attained monumental proportions. In
other words she is approaching the day
when she will not be able to pay her
debts without making sacrifices which
cannot be viewed save with alarm. This
situation is not the result of the pres
ent war although war is the primary
cause of the piling up of an indebted
ness so great that financial insolvency
is threatened. It is rather the result
of a series of wars beginning as far
back as 1689, at which time the debt
originated in its present form. At the
i itne of its inception, according to a
recent number of the London Econo
mist, it was Intended that the debt
created by the war against Louis XIV
liould become a permanent one with
the Idea of casting the burden of the
war on posterity, for whom, as much
as for the living, the war was assumed
to have been fought. The procedure
was the subject of much criticism at
the time, the chroniclers of that day
< haracterlzing It as “Dutch finance,"
hut, that England had saddled herself
ith a most costly burden was not
discovered until later, In 1816, to be
exact, at which time the debt hr
grown, through the additions caused
i y several costly wars, to the huge
sum of eight hundred and eighty-five
million pounds. By this time the real
meaning of tha debt had begun to ap
pear with the discovery that the in- :
terest charge of 32,938,000 pounds re
quired more man half of the total pub
lic revenues to pay. In other words,
over half of all the revenues derived
from taxation were expended in pay
ment of the interest on the national
ebt. During the period between 1816
and the outbreak of the Crimean war,
the debt was reduced by something like
eighty two million pounds but the
latter struggle added the sum of thir
ty-three millions bringing the total up
to eight hundred and thirty-six mil
lions. Gradual reductions took place j
during the interval between the Crlm- i
ean and Boer wars but the costly
South African venture raised the total
from six hundred and thirty -live mil
lions to seven hundred and ninety-eight
millions. This was the highest point
leached since 1867 at which time the
j debt was slightly over eight hundred
I million. In tile words oi the Econo
! mist, it was then disclosed that, "the
; savings of thirty-six years of peace had
’ oeen swallowed up by the borrowings
..ce years oi war. By the end or
ilie liseal year 1914 (.March Jiy a few
months before the commencement ot
the present giant struggle, tne debt hau
oeen reduced to seven hundred anu
seven millions bui by the end of tlie
succeeuiug financial pcrmu tMarch Jt,
i91j> the total had risen well over tne
uiliion mark, standing at one billion,
one hundred sixty-me millions eigm
Hundred two thousand. This lime, ow
ing to the immense costs of tile pres
‘ ont war, not only had the savings oi
| y ears been swept away, hut a total oi
I ..v Hundred eighly-Uve millions nau
I
| oeen added to the national debt Uy
j eight mouths of war. Since that date
I i lie debt lias been growing at a tre
: .ic.moils rale through the piiiiig up ol
the vast war costs and the huge sums
1 uoirowed for ils support. What the
( indebtedness may be at the present
cannot he guessed but that it is
I tremenuous is indicated by the
! lact that the war is cost
ing something like twenty mil
lions per day which is something lim
: twenty-nine times the amount oi tne
unity revenues from all sources. Not
.one is England's debt piling up from
itie was costs but there is thus a daily
uehcil of many millions accumulating
m the daily conduct of the government.
As tar back as June Mr. McKenna ad
mitted that the daily expenditure was
xceeding the receipts by two million
i wo hundred and fifty thousand pounds
• i <>t which will have to bo added lo
-be public indebtedness. There is thus
idling up a national deficit which it is
estimated by Mr. Lloyd George (.Julie.
iStlo,) will reach between nine hundred
million and one billion dollars by Die
rid of the present year.
it Is thus seen that the debt is fast
aching alarming proportions. Ac
cording to the latest available esti
mates there is every probability that
the total debt will have execeeded the
tremendous sum of two billion pounds
•y the end of the year. That this is
i matter for .considerable disquietude
.o even a nation of the financial
strength of Britain is indicated by the
fact that the debt charge or interest
will reach very close to one hundred
millions per annum. In addition to
maintaining this enormous interest the
government has still to pay the costs
>f conducUng the government which
alone requires the larger portion of the
revenue raised by taxation in addition
to finding ready money for the con
duct of the war. Up to the present
time practically all of the extra costs
have been met by loans upon which
neavy interest must be paid and as
his interest charge is already reach
ing to appalling proportions It is read
ily seen that the practice of borrowing
must be discontinued or the entire
national revenue will be swallowed up
in the payment of interest charges.
As intimated by Mr. Law, the gov
ernment will have to devise other
means of raising the money for con
ducting the affairs of the empire, either
by an increase of taxation or by other
methods or the day will come that the
government will find itself in the posi
tion of being unable to pay more than
the interest on its funded debt.
ALASKA
NOTES
The United States government has
commenced suit at Seward to oust
Thomas Jeter, who located a home
stead four years ago on ground now
included In the reservation for railroad
purposes at Anchorage. The land, be
sides being in the proposed railroad
freight yards, Is a part of the Chugach
forest. Jeter's application for entry
was disapproved by the United States
land office when he attempted to file.
A news item in the Alaska Evening
Post, the new publication located at
Seward states that there is a prospect
that th« steamer Corwin may be placed
on tho run to Anuchorugc during the
winter months, it is intimated mat
Udes oi tile engineering commission
ws mueli interested id me piujecl be
eause ol the chance thus tutorued to
prove whether or not tho upper arm
ol the inlet can Lie navigaieu uuiius
the winter-months with any degree ut
regularity. 1
With only a broken down two-stump
mill operating, tbe inuependence mine,
at W iiiow creek, produced one hundred
ounces oi gold recently, says the rew
ard Gateway. This does not, however,
indicate value oi tnc ore, which is sum
by recent ailivals to be exceeding rich,
ihe general opinion is that wuen tile
proper sort ol machinery lias been in
stalled the output will astonish people
who are not Luhy acquainted vviui me
district. T. W. Hawkins ol be ward is
president ol the ludepeiiueiit com
pany.
Among the victims ol the Busitania
horror was Br. Bred b. i'eiersun, lieau
of what has Lreque«|l> boon termed
ihe i’earson byudicate. Whose repre
I sentativee made a careiul investigation
ol Alaska three years ago with a view
io making investments iheie follow
ing the restriction of their eiforts lti
Mexico. Ur. 1’earson was president oi
idle Northwestern railway, and was In
terested in a great many projects in
.Mexico, bpam and the l ruled slates.
—Beattie Kailway and Marine News.
_
John Bonarle, tile Burbank of Taii
banks, has succeeded in securing a
cross betweu the native strawberry
and the "Jessy the leading variety
grown for the market in tho United
Blates. The new variety is said to re
tain the delicious liavor of the vvilu
berry and attains a considerable
growth. He has received an order
tor ail his plants from a New fork
nursery, which has ottered a substan
tial sum Lor a variety u strawueiii*.s
which would withstand all kinds ot
weather.
Cabbages weighing seven pounds
each, and turnips weighing 0 pounds,
each, and all ot the most perfect qual
ity, have just been received by Brown
At flawkins from Anchorage. The veg
etables while as large as those receiv
ed irom any place outside have none
of the poor qualities observed in the
large outside vegetables. Althoug.i
these particular turnips and cabbages
came from Anchorage they are just
about the same as are grown in the
Seward district.—Seward Gateway.
*
Frank Koycroft and Oscar Chris
tianson of Mile 2i> crossed Moose pass
recently without any more powerful
weapon of defense than a 22, witii
ammunition for ptarmigan. hen
well up in the pass they came upon a
uig hull moose right in the trail. The
B. M. was no more surprised than tiie
inen, and had it possessed the nerve
of a Texas steer, might have bagged
a couple of perfectly good men.
It took the animal about two sec
onds, however, to decide that it was in
an unhealthy locality, and to establish
a new record for a hundred yard dash
to the brush.—Alaska Post.
We have a large assortment of cards
and calendars. Loman Bros.
Professional Cards
Dr. A. F. Heimlich
PHYSICIAN AND SURGEON.
Office and Residence.
GOLDEN GATE HOTEL.
Office Hours: 2-5 and 7-8 p. m.
Phone—Night or day, Main 88.
CARLETON & COMPANY|
General hardware & ;
MINING SUPPLIES
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DREAM THEATRE
TONIGHT.
THE VOICE OF THE TELE~
PHONE.
Second Series.
2—Parts—2.
A Class Picvture.
THE TOY SHOP.
Comedy.
THE REAL IMPOSTER,
and
A PILL BOX CUPID.
Split Reel.
SUNDAY NIGHT
Featuring
THE STIGMA.
2—Parts—2
Late Issue.
PATHE WEEKLY.
Comedy
A BATHING BEAUTY.
A Hummer.
MRS. LA CLERQ. Pianist.
—
ADM. 25c
Iagle HALL
SUNDAY NIGHT.
Great L-ko.
f Comedy
LOVE AND SURGERY.
Two parts.
Featuring
Billie Ritchie and Gertrude Selby.
Nestor Company
SIREN.
ANIMATED WEEKLY.
Scenes from around the world.
CARTOONS.
By HY MAYER.
OLLIE BOURRET, Pianist.
ADMISSION. 25 cents j
| MODEL BAKERY |
| Ring’s Home
; Bakery and
j 0 \(
! Lunch Room
,■ Home Made Bread and Pastery. <
3 Bread 10c loaf; 3 for 25c. >
¥
!| ELITE HOTEL |
|| & BATHS |
3> Steam heat Electric Light 3
\* Rooms $8.00 Per 3
;► flonth & up 3
j; Ci.r. Front & B. St. ;
.W VAA/'W
I RECEIVED ON 3. 8. VIC- J
TORIA Convon McNeal Adjust* <
able Ice Skates to fit any ahoa. 3
Cole’s Hot Blast Stoves. 3
Moore’s Merit. <
Cook 8tove* and Ranges. 3
DARLING & DEAN j
COMPANY
<
jj BOSTON
jj STEAM LAUNDRY
i H Phone Main 53.
M
SHave your laundry done up at
the up-to-date laundry. Rougn
dry work our specialty. Qive us
H a trial and be convinced.
M Prompt Delivery
M
nmnxniimmnxim
['-~l‘MJ,*"L*‘A,YTr.--T^ifiajir-vTfci1li.r-^-i aiT.iriirniiitanin » m ■■mu
W. J. ROWE i
l TRANSFER AND FREIGHTING
| ■ ■ ■ -..■-■■■ ..— t
I j
Dealer in all kinds of Lumber ]
l Hay and Grain ?
I Horses For JSale j
♦ 1
♦•+• ♦»'«>♦* fi+l+ • *
j +■•+•' v
j Board of 'Trade j
j I
+ A Resoit for Gentlemen $
J BiCfiard and Poof Room in Cltasfta f
| KUSS DOWNING, I KOI- j
Established June 19tH>
--
Alaska Banking and
Sale Deposit Company
AUTHORIZED CAPITAL ....$125,000
PAID UP CAPITAL. 50,000
A General Banking Butineee Tran
sact Ml.
_
Miners & Merchants
Bank of Alaska
AI.ASKA
Capital - - $100,000
(Add 1 hist Purchased
and Assayed
! 4* 4“ 4- -t- 4- 4* 4- 4* 4-4* 4* 4- 4* 4* 4* -i* 4~ 4* ■ ?- 4* -> ►?- 4* ’ ^
: ARCTIC SPRINGS WATER 1
Y T
r The Purest Water in all Alaska 4
Is now at the usual winter rate f
16 buckets for $1.00 or 50c per. barrel by t
+' A.D. POTEET t
f *4
PHONE RED 136
f|-4+4444+44+ 44-*.+ 44 + + + 4 + + 44X
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