COLD NOW
$74.80 OZ.
IN INDIA
/*
Merchants in Open Market Are
Paying More Than Twice
Fixed Value in America
Gold recently sold at the equiv
alent of $74.80 an ounce in Bom
bay, India, one of the few
free gold markets in the world,
in contrast with ouV" fixed price
of $35 an ounce, writes Ralph
Rendershot, financial writer in
the States. His comments con
tinue:
“This contrasts with our fixed
price of $35 an ounce for the
metal. It means that the mer
chants in that city, regarded as
among the most astute in the
world, believe the currencies of
the various nations are greatly
over-priced and that when the
restrictions are lifted they will
fall sharply in purchasing power.
“On the surface it would ap
pf ar that these Indian mer
chants, who for many year have
bought and sold gold and other
precious metals and gems in an
attempt to hold and perhaps in
crease their wealth, look for
more than a 60 per cent depre
ciation in the dollar after the
war. Otherf actors enter into the
situation, however, which un
doubtedly modify such a conclu
sion.
“In the first place, gold is
* scarce in the Bombay area. Sec
ondly, fear of invasion may play
a part in establishing an unusual
ly high price. Moreover, these
prices were established on the
basis of Gritish pounds, which
were then converted to dollars at
the current pegged rate of ex
change. It is reasonable to sup
pose that the pound is in a more
precarious position than the dol
lar.
Commodities Also High
“But commodities are sky-high
throughout the world wherever
a ‘free’ market exists. In Spain,
for instance, they are several
times what they were before the
war. In other words, the natural
forces have been tremendously
inflationary, and only by the
most rigid controls have prices
been held down in other quar
ters.
“It is rather obvious that most
of the countries engaged in the
war already are banqrupt, the
cost of the conflict having in
creased their debts to points
where they exceed their wealths.
They can become solvent again
only by raising the values of
their assets in terms of their own
currencies. The only alternative
is to default on part of their debt j
payments. In other words, to
arbitrarily cut their debts.
“And it will not be enough to
cut their currency values merely j
to accommodate their domestic
financial requirements. Their
currencies will have to be deval
ued 'o a point where other na
tions will be willing to accept
them at their face values. Other
wise, international trade will be
impossible.
“This very serious condition is
the reason why British authori
ties are pushing so hard for an
international currency. Under
that arrangement the wealth of
the world would be pooled to a
certain extent, allowing interna
tional trade to be carried on
while the weaker nations were
rebuilding their wealth through
manufacture and export.
“The United States, of course,
will be the strongest world na
tion financially and economical
ly after the war. She already
has a large portion of the mone
tary gold of the world, and her
manufacturing and d^her produc
tive facilities are greater than
any of the others. But she will
I
■ be called upon to share her gold
and the output of her factories
with the resu.t that she, too, will
continue to have inflation prob
lems.
SERVICE WEARY OF
RECITIN’ DAN McGREW
i VANCOUVER. B. C—■'The lure
' of the North proved too strong
for Robert W. Service, famed '
bard of the Yukcm? who has
! closed up his Hollywood bunga- 1
low and intends making his home
in this city for some time.
The composer of '‘The Shoot
ing of Dan McGrew” has been
touring USO camps in the United
States, where there was a con
stant demand for his rendition
of the saga of ‘Dangerous Dan
“I'm sick of it’’ he declared
| here. “I don’t know why other
people want to hear it.’’
He is accompanied here by
' Mrs. Service and their daughter.
I DOGS DROWN
PESKY COYOTE
KA9SAS CITY (AP) — Harris
Buck, Barber county rancher,
was telling about three of his
dogs that were chasing a coyote.
The coyote plunged into a
pond, breathless from running
and stopped.
| Two of the dogs stopped on the
bank and barked but the third
one plunged in. The other two
then followed and they took
turns ducking the coyote until
he was so weak they could pull
him to the bank.
BIG DAY FOR
THE CUTTINGS
SCMTER, c -C. (AP)—August
23 is going to be a big day here
after for Mrs. D. . Cutting, Jr.
In the first place, it’s her
birthday.
Also, it’s the birthday of her
daughter, Mrs. W. R. Thompson
of Alcolu.
To top it all, on August 23,
this year, a daughter was born
to Mrs. Thombson.
ALASKA’S SALMON PACK
TO DATE IS NEARLY TWO
TIMES TOTAL YEAR AGO
The United States Fish and
Wildlife Service reports that the
Alaska salmon pack, as of July
24, totaled 2.660.667 cases com
pared with 1,492,749 cases on
July 25 last year, an increase of
1,167.91(1 cases. The pac}c was
made by 76 canneries, compared
with 68 in 1942
The pack as of July 24 includ
ed 1,755.058 cases or reds, 443,- !
641 cases of pinks, 390.179 cases
of chums, 28,021 cases of cohoes
and 43,768 cases of kings.
The 1942 pack included 757
099 cases of reds, 308.052 cases
of pinks, 338.062 cases of chums.
51.948 cases of cohoes, and 37,
588 cases of kings.
By Districts
The total salmon pack by dis
tricts up to July 17 for Alaska
follows:
Bristol Bay, slightly over 1,
000,000 cases.
Alaska Peninsula (north side),
21,000. .,
Alaska Peninsula (south side),
221,000.
Chignik, 700,00.
Kodiak, 117.000.
Cook Inlet, 93,000.
Copper River (final), 61,000.
Prince William Sound, 150.000.
Yakutat, 8,000.
Icy Straits, easter ad western,
combined, 160,000.
Southern Icy Straits, 33,000.
Total ases for all distrits 1,
934,000.
Sumner Strait, Stikine and the
south of Prince of Wales are un
reported.
The total so far for Alaska in
advices by wire is known to be
slightly in excess of 2.000,000
cases.
Ketchikan Area
The salmon pack of canneries
n the Ketchikan district so far
this year is approximately IV2
times as much as it was up to
a similar date last year, it was
reported July 27 by Arthur Hva
tum, fishery management agent.
The pack up to July 24 was
about 109.000 cases compared
with 66.500 for the comparable
date last year. I
Species of salmon canned, how-j
ever, changed considerably from [
last year when more than two- !
thirds of the output was in pinks.
This year, the pink pack is a lit
tle more than half the outut.
The pack of chums up to July 24
was four times the figure for
that species last year.—(Alaska ;
Weekly).
_ j
THAT LANDING FIELDS
A TURKEY HOUSE
LARNED. Kas. .AP)-^Mrs. !
Fred Webb keep soil flares burn
ing at night near her turkey shel- ;
ter houses to frighten coyotes I
and other predators away from
heT 1,200 turkeys.
The other night a big Army j
bomber came over and circled
several times. Then the pilot flew j
away. The next day a nearby j
Air Base was checking to deter
mine what landing field was lo
cated near Lamed.
DUNLAP, Kas., (AP)--Plc.
Ralph Hayes, a farmer, sold his
favorite team of mules last Feb
ruary 3 just before he entered
the Army. The other day on
Guadalcanal he heard a familiar
hee-haw and, going to the source
of the sound, found his mules.
They also are working for Uncle
Sam on Guadalcanal.
WAR’S OLD STI FF
ON IHIS FARM
RAPID CITY, S. D. (AP)—
There’ll be little panic on the
L. E. Whitmore farm :n the im
probable event of an Axis rSid.
Mr. and Mrs. Whitmore live
in a house only 40) yards off
the Rapid City Army Air base,
and only 70 yards from the ma
chine gun range.
The whine of a ricochet no
longer disturbs even the Whit
more chickens and turkeys. The
coming and goings of Army
planes are old stuff.
ATTU SOLDIERS
HAVE NEWSPAPER
SAN JOSE, Calif.—The fighting
men on Attu Island, in the Aleu
tian group, now have a soldier
newspaper, the “Attu Sun,” so
named, says the Rev. B. R. Hub
bard, “because it comes out oc
casionally.”
The Rev. Hubbard disclosed
this in a letter received by the
faculty of Santa Clara Univer
sity. He is serving as assist
ant Chaplain at Attu and also as
a guest of the government, mak
ing a motion picture record.
JUST LINE TRAINING,
THAT’S ALL.
BOWLING GREEN, O. (AP)—
There is at least one student in
the Navy V-12 unit at Bowling
Green state university who takes
his training literally.
Members of the group do a lot
of standing in line—at meal
times, on payday, and at exami
nations. When asked why the
sailors in his contingent stand in
line so frequently, the bright ca
det remarked, “We’re going to be
line officers!”
A new type of pressed wood,
hydulignum, is being used for
aircraft propeller blades. It is
made by the consolidation under
heat and pressure of 60 layers of
birchwood veneer, treated with a
special resin.
\ ,,
‘l _r- rr
r
\
4 .x
4 4
x 4
WHEN IN NOME ... I
i t i
♦♦♦ MEET THE BuiyS AT THE %
f BAR |
! i ■ I Mu I |
£-- i
|| THE BEST OF LIQUORS! |
|_^ \ THE FINEST OF BEERS! |
nZ G. MADSEN K. HEDREEN ^
I I i? PHONE MAIN 138 |
*£*'■