GERMANY'S GOLD HOARD
NOT SUFFICI NT FOR A
LARGER CREDIT BASIS
For some time past it has been evi
dent that the billigerent nations, with
the exception of England and Japan,
have reached a limit in the amount of
gold they can accumulate, acording to
the Wall Street Journal, which has the
following to say of ^Germany’s drnstlc
need of yellow metal.
"This limit of gold accumulation is
particularly true of Germany, which,
soon afeer the war commenced, and
pretty well drained the country of the
metal. The money went principally
into the ReicliBbank, there to be hold
tenaciously, whatever the economic
storm that raged around. It hn3 been
a subject of oxidation to Germany’s
exponents that she had the advantage
of England In this respect. Her isola
tion prevented her from creating out
side debts through purchases abroad,
and thus was able to conserve her
gold.
“On the other, hand, England, con
trolling two third3 of the gold pro
duetion of the world, utilized this sup
ply to liquidate the debt she was in
curring abroad, paying as she went.
Since the outbreak of the war Eng
land has exported close to $1,250,000,
000 in gold. In the past five months
the United States alone has received
over $300,000,000. Germany may point
to her intact gold hoard and make in
vidluos comparisons with the allies
financing, but It Is England's gold
mines that are helping to win the war
for the allies. It is because there is
practically an lnexhaustablc stream of
gold flowing to London that England
can afford to neglect, for the time be
ing, a large reserve at home.
"Germany’s financiers and friends,
however, have been living i:i a fool s
paradise. There will come a time when
ihe gold which she has spueezed out
i'f circulation will not be enough even
lor her international credit structure.
And the time would seem to be m u
t hand, judging by advents that have
ALASKA NOTES
(From Our Exchanges.)
Powerful electric lights have been
strung about the new concrete hank
building for the Bunk f Alaska at
Skagwuy that the work of construc
tion may be pursued throughout the
entire twenty-four huors.
Carl A. Lojc, a resident of Seward,
is believed to have fallen off the
wharf at that pluce and been drowned.
Cries for help were heard from the
wharf at 2 o'clock in the morning and
L.oje’8 hat was found there, but no
trace of the body has been discovered. !
The town of Sunrise is all excited I
over the recent find of a great big j
gold nugget valued at $53 which was!
discovered by Mike Conley on his !
property at Six Mile creek, within
half a mile of Sunrise.
1 ’ * m ..,
The famous gasboat Bender Bros,
and known as tho gold ship of the
Kuskokwlm, is Just off tho ways at
Seattle, where she has been under
going a thorough overhauling and ;
has bean chartered to the Bering S?a!
Packing company as a cannery tender :
in connection with their cannery at
Hiienden Bay.
John Baker has reported to V. S.
Commissioner Green that he saw the
skeleton of a man in a cabin on thp
headwaters of the Kuskokwim rlvrr, |
but that the natives would not per- I
mlt him to investigate the identity of
the man or cause of his death.
Game Warden Thomas Dixon, of
the Yukon Territory, reports the
coy toes have made their appearance
in the Klaune Lake district and are
in great numbers in the Klaune Lako
district and are killing oft the wild ;
sheep and goats. Ho urges that
means be adopted to exterminate
them.
Rev. James A. Kennelly, pastor of
the Catholic church at Juneau, has
been transferred to Missoula, Mont.,
his health being such that he Is un
able to stand the Juneau climate.
Rev. Rocattl, assistant under Father
Kennelly, will probably succeed him.
John Relk hue found pay in the In
noko, running from $1.25 to $1.85 to
the square foot of bedrock on No. 48
below left limit bench, Ganes creek.
He has cross-cut ovpr one hundred
feet and Is still in the money. It is
only eleven feet tj bedrock and nil
frozen.
The 1 ,. neer Clam Cannery, now
being eree'ed at Cordova, will have
a capacity of from 300 to 400 cases
per day. The companj has purchased
several lots in the townsite and will
erect several e- tl-tge* for the accom
modation of their employes and their
fam'lics.
The Juneau land office is prepar
icg a remarkable map of Alaska, on
th*e scale of 600 feat to the Inch. Thij
map Is In sections, of course, and will
sbow every loos.-'on of every kind in
the territory, inducing placer, gold,
homesteads, trading posts and other
lagaUess sad jessrvea.
. Alary C. Byard, of Juneau, has Hied
an action In the District Court at Ju
neau against the Alaska Juneau (iold
Mining Company for damages, under
.he compensation act of 1913, for the
death of her husband, Jacob C.Byard,
who was killed while employed by ‘.tie
emopany last December.
The throe year old son of Mr. ind
Mrs. Arthur Beyn, of Fairbanks, turn
up missing a few days ago, anil after
an alarm had been turned in and a
searching party had been out for
some time, the little one was found
. ist asleep at the edge of an outfield,
I mighty hungry and glad to be rescued.
i
Libby, McNeil and Libby are asking
for bids from the shipbuilders on two
big motorships to be used in the can
nery trade. The boats will carry sal
mon from the canneries owned by
this company in Alaska to Dugin
Sound and possibly go on around
through the canal to the eastern mar
ket and to Liverpool
__
H. F. Lewis ha3 gone into the To
tatlunika country with a prospecting
drill for the purpose of testing tin
ground.
The Anchorage Times states that
one of the vital needs of that town is
adequate docking facilities.
—
Subscribe for the Nome Nugget
f 2.00 per month.
Mr. Miner, Citizen or Merchant
Stop for a moment and consider the mutual
advantages gained by becoming a member of the
FRATERNAL, SOCIAL, PROTECTIVE AND FINANCIAL
PRESTIGE should be sufficient inducement for you I
not to lose another moment to request some Eagle
friend of yours to present your name.
One large class will be put through Tuesday
December 12th, get in the next class December 26
NOME AERIE, NO. 75 F. 0. E.
transpired within the last few weeks.
Then where will Germany turn for
more gold?
"That something of this apprenhen
sion is in the minds of the German
government may be inferred from the
recent seizure of 400,000,000 marks
from the vaults of the National Bank
of Belgium. This money was In the
form of Rt iohsbank notes. If an ex
amination is made of tho Itelchsbank
statement at about the time this in
cident took place, the purpose of t*e
seizure Is quite apparent. The
Reichs-bank's return as of September
T last showed note circulation of 7,175,
242.000 marks. Its gold holdings a
mounted on the same date to 2,469,
699.000 marks.
"This means that the circulation
was within 78,000,000 marks of the
legal limit- one-third of the circula
tion having to he covered by cash re
serve. Tho next report came on Sep
tember 15. when the note circulation
bad been reduced to 6,878,622,000
marks and on gold holdings stood at 1
2,470,200,000, or 177,000,000 marks
within the limit. On September 23
circulation had been further reduced
to 6,860,000,000 marks and gold In
creased slightly to 2,471,625,000 marks,
or 1S4,000,000 marks away from the
'cgal limit.
A TRULY PACIFIC OCEAN
- I
The German U-53 war submarine
in a day, disarranged and all but put
an end to the greatest commerce the
Atlantic coa3t ports of the United
states ever enjoyed. Its presence on
the American! coast drove British,
French and even neutral ships to
sheltering ports, and made the fu
ture transatlantic carriage of freight
and passengers a business fraught
with the greatest danger.
Whatever be th^ future outcome of
Germany’s latest marine exploit, and
whether or not It shall Involve Am
erica in new adventures in diplo
mae--, the effect will be to drive the
course of world commerce to the Pa
cific. which has been truly pacific
since the beginning c' the war, and
continues so.
There should be an immediate
growth of commerce westward from
nd eastward to America. Instead of
at. scarcity of carriers, wo aro likely
o have, soon, a plethora of ships
from the Atlantic seeking commerce
in safe waters. Unless Germany shall
find means for sending Its submarines
o the Pacific, practically an Impossi
ble contingency, this coast should
handle the great bulk of tho ocean
commerce of the continent.
Though tho war has been carried
to American shores, Germany’s as
surances promise observance of her
I agreement to wag a civilize I warfare
, and if this be done there is littl
! chance of diplomatic complication.
It i3 also reassuring to know llm
American ports arc not to be sought
for* emerg- nt needs. There is evid
tnce that submarines aro supplied
from some base unconnected with
American interests. This appears ob
vious.—P. I
COMPARATIVE
TEMPERATURES
Following ore the lowest recorded
temperatures for this year and Iasi
on the days designated. The minus
sign before a number means below
zero.
U. S. Weather Bureau.
1915. 191G
Dec. 1... . —11 — 2u
Dec. 2. —12 —30
Dec. 3. —14 —32
Dec. 4. —18 —12
Dec. 6. —1G — »u
Dec. 6. —14 —2 s
Dec. 7. —1« —26
D< c. 8. —16 21
Dec. 9. . . . ... —18 4
Dec. 10. —11 2
NOTICE TO PUBLIC OF NOME.
1 ha*e secured the Tailor Shop of
John Feyrer. tardies and Uents suits
made to order. A large stock of
Fabrics and Fashions to select from.
Suits cleaned, pressed and altered.
All Work Guaranteed
to fit and nut with your approval.
M. PASCOFF.
Cor. Fane's way and Front street.
OVERSTOCKED.
To the public.~
W'e have just finished stock taking
and find that «re are heavily overstocked
so are matting enormous reductions In
Hardware—as mucn as uU per cent In
certain lines. Notwithstanding immense
advances outside, especially in Hard
ware and Metal Goods, we are still sell
ing on tne basis of goods purchased th*
pas* two or three years.
We win sell tor cash only at thes**
prices, and for a llrnlte. time, until w*>
bring our stock down to the require
merits of the camp.
If jrou nave an order to be tilled, let
us figure on it; we can save you money
Ws ha/e proved It to others, we can
prove it to you.
DA KM NO AND DR AN COMPANY.
j FOR HATS
1 AND DRESSES
I
* *
(Dress Goods, Stamped goods, ’
fancy goods, Maderia work, J
Crochet and Embroidery j
Threads a* ;
MRS. J. WANGER
Second ave.. opposite Courthouse, J
OOOOOOOOCOOOOOOOOOOOOOOOOOOOOOOOOOOCCOOOOOOOOGf
.)
g o
Daniel Green Felt Shoes tyr <j
| ' J©
g Ladies Men Children Leather §
^ c
3 Vests At CHEAP JOHN S Store 8
O 0
0 o
1 ONE PRICE STORE
n o
O 0
o Telephone Ham 4K
Oooooooooooooooooooooo^^oooooooooooooooooooo )0
OOOOOOOOOOOOOOOOOOOOOOOOOOOO-: OOCOCDOOC OOOOOOD'JC
§ §
o
o
o
o 5
O 0
0 <5
1 Rose (andy Store and Arctic Bakery8
2 o
2 0
2 o
o o
2 0
e 8
2 °
0
oOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOcOOOOOODO
'W////A'AWA^WWVVVWv'>
| MILO’S GAFE ;
[Reopens Saturday \
June (Oth,
<t OPEN DAY AND NIGHT C
/ Next door to PACIFIC COED
J. STORAOE MARKET •[
^VVWSAVvWvWvW>/WVvVs
| Chas. W. Reed i
i !
I Machinist 6 Blacksmith I
i I
| r:"“ j:
* Uasoline Engines, Moi»t*
I Boilers, Pipe and Pipe
Fitting*
.. .. . j j
! No. 5 Front St. !
i ^
[Water ]
usual winter rates X
; 16 buckets $1.00 J
per barral 50ct» J
4.
; For prompt service J
Phone White 90 X
efe
| Wm. Pangman f
1 It fc LtALAAA tJ,AA„ a it . t. a. a L
r ■ rTTTTTTTTTT^TT"
/WWWAVvW\' rvWv*/vwywry
NOME j
COFFEE HOUSE i
I AM) BAKERY
Recommend its clean and whole ^
som, bread and pastry of all Ij
kinds. ^
We cater to family trad# •
Orders for entertainments ’
promptly filled.
4*
aa^N^AAAA/N^WS^WAAAW
iW\AVSiVVVSVAV.V/vVVWyVi
The
< i
< Angeles
|k-- <
A. G. OLIVER :
PROP.
Phone Main 33
WAVyVWv\Wv\VVVr/VSVW»V.
*A"M-+-Fd-*+'f d-+i-++++++-*•
t $
| BOARD of TRADE t
! Restaurant i
i THE HOME OF THE BIG I
I BAKED POTATO. t
T Every day from 5 to 8 p. m. T
T We make a specialty of New *
4> England Boiled Dinners Friday X
I and Sunday. T
| MODINI & MILO. Prosps. T
111 Mi M
When Ordering
Insist on
A
' I
Hafaicr
K>ale fficcr
-nmmmawmmmmmammmmmmmMmmnm ■ im ih—i— in— w mu n hmhi ■■ wumvmmum
ADVERTISE IN THE NUGGET
AND GET RESULTS