Let’s Return To
Gold Standard
By Dr. Alfred P. Haake
Money is still a mystery to
millions of people. That is why
governments can do the often out
rageous things that frequently
bring little protest from the peo
ple. And when the prostitution of
a currency is so conducted as to
raise prices along with money
wages and apparently bring pros
perity, the majority of the people
may even ask for and welcome
more of the same—for a while.
They are slow «to realize that,
like the ruinous schemes of one
John Law several centuries ago
and others since, irredeemable
currency not only dilutes the pur
chasing power of every honest
dollar in existence and robs peo
ple of their savings, buT it also is
the surest weapon of the totali
tarian to cement his control on
a people.
Sound Currency Promised in '32
There were Democrats who rec
ognized the tremendous impor
tance of maintaining a sound cur
rency based on the Gold Standard,
making it possible for people to
continue exchanging their paper
money for gold. So the Demo
cratic platform of 1932 contained
a sound currency plank, one that
won many votes for them in 1932.
But the New Dealers repudiated
the Democratic pledge of 1932 and
established instead an irredeem
able currency to breed unlimited
spending and totalitarian control.
GOP Platform In 1952
Then the Republicans, writing
their platform of 1952 to correct
the monetary evils that had al
J| ready destroyed the buying power
w of over half the total savings,
■ pledged themselves to restore gold
m redemption of paper money.
¥ Now there are signs that the
Republicans may repudiate their
pledge to restore a sound curren
cy. Unless the people rise up and
demand that there actually be a
stop to the issue of irredeemable
money instruments, that we cease
to inflate and dilute further the
purchasing power of citizens’ dol
lars—it is possible that even a
Republican Congress, having
raised its hands in holy horror at
the spectacle of corruption and
promise-breaking of a previous
administration, may itself fail to
keep its own word in the face of
adjustments that must come with
the restoration of a sound cur
rency.
We believe there is plenty of
courage as well as common sense
in the Congress to keep the pledge
to restore redemption of our cur
rency in gold, if the people them
selves demand it. That is the
surest way to stop socialism and
the further growth of totalitarian
ism. It is irredeemable money that
greases the toboggan to destruc
tion.
If there is doubt as to whether
we have enough gold to make
redemption in gold a safe policy,
look at these facts.
Having gone through the hor
rors of inconvertible and irre
deemable money after the war
between the States, we passed a
law to resume gold redemption in
1679. It was during the contro
Ice Pool Game Faces
Threat of Crackdown
FAIRBANKS, OP)—The issue of
punchboards has split law en
forcement agencies in the Fair
banks area, and Alaska’s favorite
game, guessing the ice breakup
times, appeared to be threatened.
It all started when U. S. Mar
shal Ted McRoberts issued an
order which bans all punchboards
in the Fourth Division. The
boards must be taken down or
operators will face arrest.
District Attorney Robert J. Mc
Nealy indicated that he looked
with disfavor on the order by the
marshal. It will be up to McNealy
to prosecute all punchboard op
erators who may be -arrested.
McNealy said he would prose
cute punchboard operators “only
with the same vigor I would
prosecute those who participate
in card games and who parti
cipate in the traditional ice pool
ticket sales.”
McNealy apaprently indicated
his office would not prosecute
punchboard operators so long as
ice pool tickets were being sold
openly all over the territory.
Some observers feared his ac
tion would drag the ice pool ticket
sales into a controversy which
might result in a crackdown on
Alaska’s favorite sports.
TRUMANS HEAD FOR HAWAII
KANSAS CITY, UPI — Former
President Harry Truman headed
west Friday for a Hawaiian vaca
tion - on which he hopes to “do
as little work as possible.”
Accompaying him were Mrs.
Truman and their daughter Mar
garet.
They will board the liner Presi
dent Cleveland at San Francisco
Sunday.
versy over this legislation that
there was born the famous re
mark, “the way to resume is to
resume.”
Here is what happened.
Gold Standard Worked In 1879
The money in circulation plus
deposits in banks totalled $2,043,
400,000 in 1878. The amount of
gold on hand for redemption of
currency was $133,000,000 or 6.5
per cent of the total money and
deposits. There were six and o,ne
half dollars of gold for every hun
dred dollars of money and bank
deposits.
On Jan. 2, 1879, the first day
of redemption, the public turned
in $135,000 of paper money for
redemption, but they brought in
$400,000 in gold to get paper
money. That was the trend for
the year following. Bank deposits
and paper money in circulation
both increased during the year.
Confidence was restored and the
people learned that it is trjie that
“the way to resume is to resume.”
It can be done now. We have
almost twice as much gold per
dollar of money and bank de
posits, 11 per cent in 1952 as
against 6.5 per cent in 1878. It is
difficult to think of any other one
measure that would do so much
to restore a sound currency and
stop further inflation and devel
opment of totalitarianism in gov
ernment, as the restoration of
gold redemption for paper money.
THE NOME LIQUOR STORE
WE CARRY A LARGE ASSORTMENT OF
FINE LIQUORS, BEER AND WINE
Out-of-Town Orders Carefully Handled
B-36 and Superfort
Crash In Newfoundland
ST. JOHN’S, Newfoundland, OP)
— Two U.S. Air Force planes
crashed in Newfoundland Wed
nesday. All 33 men aboard the
two planes were believed dead,
including an Air Force general.
A giant 10-engine bomber, an
RB-36, hit a hilltop on the iso
lated east coast of Newfoundland.
It carried 23 men, including Brig.
Gen. Richard E. Ellsworth, ,42, of
Erie, Pa., commanding general of
the Rapid City, S.D., air base.
Woodsmen found 10 bodies Thurs
day near the wreckage of the
plane—a version of the B-36, able
to deliver blows from bases in
the U.S. to almost any point in
the world.
A U. S. Superfortress with a
crew of 10 crashed in St. George’s
Bay, about 290 miles across New
foundland from St. John’s on the
west coast. The plane was from
Harmon Field on the west coast.
Searchers found only wreckage
and no survivors in the bay, first
reports said.
Both planes were on training
flights.
Ground parties combed through
the wreckage of the RB-36, for
additional bodies.
Plane Carrying Engineer Into
Uranium Country Forced Down
VANCOUVER, B. C., OP) — A
Central B.C. Airlines plane, re
ported missing, is safe on an air
strip near Stewart, B.C., 600 miles
north of here.
Pilot Don Mclvor reported to
head office here that he had put
his plane down to escape rough
weather in the bleak northern
mountains.
Mclvor and an engineer, so far
unidentified, were the only per
sons aboard the plane.
The ski-equipped Beaver plane
was flying into the remote Leduc
Glacier area, near the B.C.-Alaska
boundary, where a rich uranium
strike is rumored.
• • .
For a wonderful vacation
when you’re Outside...
HAWAII
$225 ROUND TRIP (plus .ax)
from Scln Francisco or Los Angeles
Pan American’s new Clipper* Tourist Service cuts air >
fares from California to Hawaii by $43 one way and
$77.40 round trip! You fly in dependable double-decked
“Strato” Clippers. With the same experienced flight
crews... in the same fast flying time as Pan American’s
luxury flights. Pan American was the first to offer you
scheduled tourist service to Hawaii!
For reservations, call
593 First Avenue • Phone 12
*Trade-Mark, Pan American World Airway«, fne.
Bw Amchicw
WORLD'S MOST EXPERIENCED AIRLINE
I Wanna Win I
A Wabbit? I
FOUR LIVE EASTER BUNNIES I
Will Be Given Away April 4th f
To Lucky Customers! 1
A Free Ticket With Each $1 Cash Purchase! »
-WEEK-END SPECIAL— I
Sunny Jim Strawberry Jam 20 0unc. Jtr I
U. S. MERC J