THE NOME NUGGET
Published Monday, Wednesday and Friday by the
NOME PUBLISHING CO.
NOME. ALASKA
Telephone: Main 125 P. O. Box 618
$1.50 PER MONTH $16.00 A YEAR
W. A. Boucher ..Owner-Publisher
Entered as second class matter October 14, 1943, at the postoffice
•t Nome, Alaska, under the Act of March 3. 1879.
Nome, Alaska, Friday, October 21, 1949^_
THE DOLLAR
(By Clarke Beach)
Those rectangular green pieces of paper you carry in
your pocketbook are just about as popular as any com
modity in the world today. When proud old nations
knuckled under and devalued their currencies to make
them worth less in terms of the American dollar, the
young American greenback came into its own.
Once upon a time it “wasn’t worth a Continental.”!
That was when the Continental Congress turned out
210,000,000 on printing presses during the American'
Revolution. In terms of gold and other nations’ money, i
the Continental dollars were worth only a fraction of
their face value.
The dollar got on its teet when Congress, atter tne
Constitution had been adopted, established the present
monetary system in 1792. Congress began coining dol
lars at the Philadelphia mint in 1793.
They were all metal coins—gold eagles (worth $10)
and fractions of eagles, silver dollars and fractions of
dollars and copper cents and half cents.
The Federal Government didn’t turn out any paper
money until the Civil War, when “greenbacks” were
first issued. Banks operating under federal or state char
ters issued notes as currency—and much of the paper
eventually became badly depreciated in value.
There was a great hullabaloo when the government
made greenbacks legal tender, requiring that they be ac
cepted in payment of debts. People are inclined to be
distrustful of paper money, and even today folks don’t
like to handle it in some towns in our western states.
But the dollar managed to hold its own in relation to j
gold and the mighty British pound. Through most of
our history the pound has been worth about $4.86. Af- !
ter the first World War it began to slip. In 1920 hte
pound was worth only $3.66. It was back to its normal1
$4.86 by 1930. But in 1932 it dropped to its lowest point
up to that time, to $3.50 in U. S. money.
Then it fluctuated wildly. In 1934 it reached the high
est value of which the Federal Reserve System has a ;
record, $5.03. In 1941 it sold for $4.03, and that was its i
official rate until the recent devaluation sent it down \
to $2.80.
The reason for the rise of the dollar in relation to the
pound is primarily America’s new position as a creditor
nation. For more than a century we bought more from
the rest of the world than the world bought from us. But
in about 1926 we became the world’s investment bank
er. Now we have no many things that the world wants,
to buy that our dollars are in unprecedented demand, (
throwing other currencies off balance.
The word dollar was in general use before our gov
ernment adopted it. One or another form of the word
designated many kinds of European currency. It came
from the Greek word thaler. In Dutch it was the Daal
der. In German it was the taler. Spanish “pieces of
eight” were called dollars.
The dollar sign also was in use before the Revolution.
It is believed to have designated the Mexican peso. It
was first written “Ps.” Later manuscripts show the “P”
superimposed on the “S” which seems to be how we
go the dollar sign.
Today there are about 53 billion dollars in the world.
About 28 billion of them are in circulation. Most of the
rest are held in the U.S. Treasury. There they are in the
custody of Mrs. Georgia Neese Clark, treasurer of the
United States, whose signature also apears on all paper
money now being produced.
Another woman, Mrs. Nellie Taylor Ross, for 16 years
has been in charge of the manufacture of all U. S. coins.
As director of the mint, she has in that time turned out
about $1,028,000,000 worth of metal money.
There’s another interesting fact about women and
Hi, Kids
Assisting the sponsor of your
Hallowe’en surprise will be three
witches. Three Hallowe’en witches.
A big box of candy which is in
the window of the Nome Drug
will be given to the kid who
guesses the names of the witches
Mail your guesses to Box 94 or
bring them to the Nugget before
next Thursday noon.
Nell Muncy is in charge of the
entertainment and is very "mum”
on the details of the big event.
TO SCHOOL VIA HOSPITAL
‘CHAMPAIGN, 111. (/P) — Nine
girls with permits to enter the
University of Illinois solved their
housing problem temporarily by
staying at McKinley Hospital here
when the couldn’t find rooms.
David Secco. 16 year old son of
Jack Secca passed away yesterday.
Jack, better known at “'Diomede
Jack” has lived in Nome many
years. Services are from the As
sembly of God Church next Sun
day with Harriet Brown in charge
of the funeral.
American money. The Institute of Life Insurance has
estimated that 70 per cent of the nation’s wealth is con
trolled by women.
* - f 1 I I f r *
“MY GOD” MAY BE OUR FERVENT PRAYER
(McComb, Miss., Enterprise-Journal)
‘ The people of America are asleep at the switch. The
nation that possessed the arsenal of democracy and the
manpower to destroy the Hitler machine is nonchalant
ly whistling while the worms beneath the bark eat at
the life-giving cambium layer in the tree of state.
Within five vears of this date the form of American
V
democracy may have completely changed. In less than
five years we may have socialized medicine, socialized
banking, socialized labor pools, socialized law and a li
censed press.
The freedom which our fathers bequeathed to us and
the dignity of the individual which they preserved for
us, may not be long enjoyed by our children.
The socialism of England may soon be saddled upon
America. The next step is Communism.
Government checks are buying America off. Govern
ment checks are dearer to people than the security of
our traditions. Government checks may prove to be the
Achilles heel in the security of our nation.
Too many people are being fooled by a false sense
of security. Politicians have learned how to spend gov
ernment money and win political support. It is a vicious
and pathetic pattern.
Do you want your son to be free? Do you love your
daughter sufficiently to pray for her individual dignity?
“Pessimistic?” you ask. The answer is “yes.” America
needs a Paul Revere but there is no lantern in the Old
North Church. Things are happening today in Washing
ton that are forging the chains upon our people. But we
are too blind to see it; too dazed by the dazzling coin of
the realm to put first things first.
Can America be awakened to her danger today?
Our people are so far from recognizing the truth to
day an editor seems ridiculous if he asks the question.
Ladies and gentlemen—fellow Americans—apolitical
catastrophe is taking place at this hour. We need the
minute men of a more fervent American stock. Other
wise in 1954, or before that time Americans mav be re
morsefully muttering: “My God, why were we so blind?"
TH^PINO*
CHURCHES
CATHOLIC CHURCH
Masses:
8:00 a.m.
11:15 a.m.
10:00 a.m.—M. A. F. B. Chapel
LAVINIA WALLACE YOUNG
MISSION
Pastors—Rev. Theron McGrew
Rev. Paul B. F. Car leer
Rev. Robi. Treat. Methodist pastor
Sunday—
10:00 a.m. Eskimo Speakini
Service.
11:00 a.m. Sunday School.
7:30 p.m. Evening Service.
Wednesday—
2:00 p.m. Children’s Miracle
Book Club.
Thursday—
7:30 p.m. Mid-week Service.
THE METHODIST CHURCH
(FEDERATED)
Rev. Robert Treat. Minister
Sunday—
9:45—Sunday School.
11:00—Morning Worship; Anthem
by the Senior Choir, “Above the
Hills of Time.”
Message by the Pastor: “God’s
Encuoragement.”
Nursery during service for con
I venience of parents.
7:30—Evening Service — Even
song and Message, “The Church’s
Commission.”
Tuesday—Junior Chair, and party
for choir members.
Wednesday evening, 7:00 Senior
Choir.
Friday, Teacher’s Class. 8:00.
ASSEMBLY OF GOD
PENTECOSTAL
Third Avenue West
Miss H. E. Brown
Missionary in Charge
Sunday—
Sunday School .10:00 a.m.
Adult Bible Class.11:00 a.m.
Evening Service .7:30 p.m.
Tuesday—
Young Peoples Meeting 4:00p.m.
1 Wednesday—
Bible Study .7:30 p.m.
Friday—
Bible Study and
Prayer Meeting .7:00 p.m.
EVERYONE WELCOME
CHURCH OF THE NAZARENE
Third and Division
Pastor—Lewis I. Hudgins
“People who live right never
get left.”
10:00 a.m. Singspiration and Sun
day School classes.
11:00 a.m. Morning Message.
7:00 p.m. Young People’s Meeting.
7:30 p.m. Singspiration and special
music.
8:00 p.m. Evening Message.
Wednesday: 7:30 p.m. Melody and
Prayer.
Come and bring your Bible.
You are ever welcome to attend
these services.
NOME GOSPEL MISSION
of
Alaska Evangelization Society
Rev. Vern Rimling. Pastor
Sunday—
2:00 p.m. Sunday School for
boys and girls.
Preaching service in the Eskimo
language by James Savok.
7:30 p.m. Gospel Service.
Tuesday—
7:30 p.m. Bible Study—trans
lated into the Eskimo language.
Thursday—
2:00 to 4:00 p.m. K.Y.B Club for
boys and girls.
Friday—
7:30 p.m. Prayer, Praise and
Testimony.