More Speculation, More
Questions Heard on
Raising Gold Price
(From Dept, of Mines Bulletin)
The interest in gold continues
to grow. Petitions are being cir
culated in Alaska for .$105 gold.
A memorial has passed the State
House for a gold subsidy.
More and more questions and
speculations are being heard as
to what effect various raises in
the price of gold would have. The
extra-large outflow of gold from
the U.S. Treasury is pointed out
by many as a reason why the
price should be raised.
One authority says that gold
has mostly gone to Europe where
it has helped stabilize the cur
rencies there, which is good, but
that this has resulted in the U.S.
making payments that we cannot
afford indefinitely. These large
gold payments have brought
about an entirely new situation
in world finance that calls for a
new appraisal of domestic and
international financial and econ
omic policies.
The willingness of the people
of other countries to hold dollars
rather than gold depends upon
their confidence in the U.S. and
the U.S. Federal Reserve System.
Now that the economies of other
industrial nations are strong, the
U.S. is discovering that it is not
as easy to settle its accounts as
formerly, and that it is subject
to balance-of-payments discipline
the same as the other nations.
With regard to the Federal Re
serve System, another authority
has pointed out that it has been
able to help us out of the reces
sions of 1949, 1954, and 1957 by
reducing interest rates — thereby
making money and credit easier
and cheaper. Then in inflation
ary times, the FRB has put
clamps on money and credit to
slow things down. Now, however,
the FRB may no longer be able
to carry out these manipulations.
If we should have a recession,
and the FRB should again lower
interest rates, the action could
cause foreigners to withdraw
their balances, especially if in
terest rates are higher in other
countries. At the same time, hold
ers of dollars all over the world
could lose confidence in U.S. fin
ancial affairs and start a money
panic. The rush to convert dollars
to gold would commence. So the
FRB will have to make future
moves much more carefully and
may find it has lost its power to
counteract recessions.
Striking Hollywood Actors
Demand Share of Movies
Sold for TV Showing
. HOLLYWOOD, UP\ — A star
studded actors’ strike went into
a second day Tuesday with both
sides predicting a long, costly and
— as they say in Hollywood —
collossal battle.
At the heart of the dispute was
an old movieland bogeyman: tele
vision.
The 14,000-member Screen Act
ors Guild wants extra pay for
television showings of post-1948
films.
The strike has shut down pro
duction at seven studios. Among
the 5,000 workers idled: Marilyn
Monroe, Fred Astaire, Bing Cros
by, Elizabeth Taylor and Alan
Ladd.
Like this tinsel town itself, the
strike had its uncommon aspects:
no picket lines, no demonstrations
and some production continued.
Some, like Frank Sinatra and
Tony Curtis, wore two hats —
producer and actor — and backed
the strikers. Their independent
companies have signed contracts
with the SAG.
NOME SANITARY
SERVICE
Phone Main 1
P. O. Box 4S0
U. S. Has No Early
Missile Detection,
Says NORAD Head
ANCHORAGE, (At—The United
States at the present time has no
means of detecting incoming
enemy ballistic missiles nor of de
stroying such missiles, Gen. Laur
ence S. Kuter, commander in chief
of the North American Defense
Command (NORAD) said yester
day.
Kuter, who has just completed
a 19-day inspection tour of DEW
Line stations, talked of missiles
and missile detection at a press
conference at Elmendorf Air
Force Base.
During his inspection tour he
stopped at the two ballistic mis
sile Early Warning Stations
(BMEWS) now under construc
tion at Clear and Thule, Green
land.
Antimissile missiles are in the
research and development stage
now but it is not anticpated
they will be operational before
1964, ituter said.
The NORAD commander sees
1964 as the period of great po
tential danger for the nation.
“This is the period we believe
that the missile threat will become
the prime threat against our na
tion — until that time we are
naked to an ICBM attack,” he
said.
The prime threat today against
the North American continent is
the manned bomber armed witn
either the conventional nuclear
bomb or with the so-called “stand
off missile” armed with a nuclear
warhead, Kuter said.
The latter weapon enables the
attacking bomber to come within
four to five hundred miles of the
target and release a missile toward
the target.
BMEWS site construction at
Thule is far ahead of the Clear
work because of last year’s strike
in Alaska, the general said.
“At Clear, the strike of last
season set the program back but
military authorities and contrac
tor representatives are optimistic
that they can pick up some of the
ground that was lost last year —
I personally hope so because the
North American continent needs
that warning system at the earliest
possible date it can get' it,” Kuter
said.
B. C. Lawmaker Tries
For Hardtopping Road
To Match Alaska Section
VICTORIA, B. C., (A — A mem
ber of the B. C. Legislature last
night said if something isn’t done
about hardtopping the road be
tween Hyder, Alaska, and Stew
art, B. C., Canadians are going to
look pretty silly.
William Asselstine said Stew
art is being connected through
the northern hinterland by a road
to Cassiar. But aside from this it
is the only B. C. community that
can claim a short road connection
with Alaska.
The road to Hyder was two
miles long on the Canadian side.
It had been blacktopped years
ago, but the hard surface has since
worn off. Now the new State of
Alaska is going to blacktop the
road right up to the B. C. border,
Asseltine said, adding it was ail
going to be very embarrassing un
less something was done.
PIONEER
WATER
DELIVERY
MAIN 14
Pure, Natural Water
May 6 Is Date Set for
Margaret’s Wedding
By ALVIN J. STEINKOPF
LONDON, IIP) — Princess Mar
garet and Antony Armstrong
Jones will be married May 6 in
stately Westminster Abbey, tra
ditional setting for many high
ceremonies of British royalty.
The glamorous Princess named
the day today.
She and the young commoner,
who until recently was a society
photographer, will be pronounced
man and wife by the Archbishop
of Canterbury, the Most Rev.
Geoffrey Fisher.
An announcement from Clar
ence House, the Princess’ home,
said her brother-in-law, Prince
Philip, husband of Queen Eliza
beth II, will give the bride away.
The announcement touched off
widespread enthusiasm.
A repetition of the splendid
pageantry of Queen Elizabeth’s
coronation was expected, with dis
tinguished and humble visitors
flocking into London from the
ends of the earth.
It is generally expected that
Armstrong-Jones will ge elevated
to the peerage, probably as a mar
quess, before the wedding.
Arthur J. Tognazzini of the
Social Security office in Juneau
arrived in Nome yesterday. He
expects to leave again tomorrow
morning but until then he will
ibe available at the Wallace Hotel.
UNDER THE ALASKA SAFETY
RESPONSIBILITY ACT, if you
loan your motor vehicle to an
other individual, you may lose
your driver’s license. The motorist
who loans his car to another
driver should be aware of the fact
that HE may lose hi£ license as
a result of the negligence of the
other party. If your insurance
policy is restricted to yourself
alone, it would not provide cov
erage for the other party to whom
you have loaned your automobile.
Heads of families should be cer
tain that their policies provide
coverage for any member of their
immediate family who may oper
ate the family vehicle. If you per
sonally are uninsured, and if you
loan your motor vehicle to a friend
who becomes involved in an acci
dent, then both you and he may
lose your driver’s license and
privilege to operate a motor ve
hicle in Alaska.
WIEN PASSENGERS TODAY
Arriving from Fairbanks this
morning by Wien plane were:
Robert Meyer, Robt. Rausch, Sig
fred Olson, Eric Keven, Mrs. Tony
Buelna, Pete Walsh, James De
bona, Mary Honsberger.
From Kotzebue: Gordon Os
borne, Clara Washington, Bob
Horn.
Departing were: Mrs. Margaret
Russell for Fairbanks and for out
side Mr. and Mrs. J. F. Nutt.
An Arizona bank recently spon
sored a two-day workshop for
leaders of 20 Southwest Indian
tribes. Purpose was to give tribal
officials a chance to discuss busi
ness problems with local com
munity leaders.
"DO IT ALL
WITH ONE CALL"
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AND
Dry Cleaners
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Proprietors
Urban Renewal Grant
Made for Alaska’s
Planning Commission
WASHINGTON, UP) — Approval
of a federal grant of $20,000 to
enable the Alaska State Planning
Commission to prepare a plan for
growth and development of the
state was announced today.
The grant, to be matched by
local funds, was announced by
David M. Walker, urban renewal
commissioner.
The work, Walker said, will in
clude revision of the capital im
provements program and formu
lation of a long-range planning
program in the state.
The atomic nucleus is made up
of a definite number of funda
mental particles referred to as
protons and neutrons.
THURSDAY STARTS FILM
SERIES AT COVENANT
A dramatic documentary film
covering 20 centuries, entitled
“Our Bible — How It Came To
Us,” will be shown in three parts
at the Covenant Church Thurs
day, Friday and Saturday eve
nings.
Made for the American Bible
Society, the film shows the Scrip
ture in use during the time of
Jesus; how the New Testament
was written and used in the early
church; the translation into Latin;
the languages of Europe, and fin
ally into English. The three sec
tions are, The Formation of the
Bible, The Bible Spreads Across
Europe, and Making of the En
glish Bible.
All services begin at 7:30 with
the exception of the Saturday ser
vice which starts at 7 p.m.
I
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GOOD-BYE
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an hour . . and we'll do the
washing and drying
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OPEN 8 A.M. to 5 P.M.