Free Gold Market
Bill Gets
“Thumbs Down” Reply
The Department of the Trea
sury has turned “thumbs down”
on Delegate Bartlett’s bill to per
mit a free market for gold in the
United States and to allow the
unrestricted exportation of newly
mined gold.
The legislation was introduced
by Delegate Bartlett in the belief
that gold should seek its own
level in the open market so that
the gold miner would be able to
sell his product wherever he de
sired and at whatever price he
could command in the hope of
helping in an economy which is
depressed.
^Under existing law and regu
lations,” Acting Secretary of the
Treasury Burgess wrote to Chair
man Spence of the House Com
mittee on Banking and Currency
on Mr. Bartlett’s bill, “the Unit
ed States is on a form of inter
national gold bullion standard
under which gold is freely bought
from and sold to foreign govern-.
ments and central banks at the
official price of $35 per fine troy
ounce, plus or minus handling
charges, for the settlement of in
ternational balances. The U. S.
Government also purchases ncw
m ly mined domestic gold and sells
gold domestically for legitimate
and customary industrial profes
sional and artistic uses at the of
ficial price. A gold reserve equal
to 25 percent of the note issue
and deposits of Federal Reserve
banks is required by law. Howr
ever, with the exception of licen
sed processors of gold, private
citizens do not have freedom to
buy gold bullion either in an
open market or from the United
States.
“The Treasury Department is
opposed to the enactment of H. R.
3800,” JMr. Burgess continued,
“because we feel that the propos
al which, if adopted, would have
the effect of creating variable
prices for gold in terms of the
dollar in domestic and foreign
markets, would tend to under
mine confidence in the currency
and thus would be a step away
from a sound monetary policy.”
Mp
BARTLETT PROTESTS
ACS RATE BOOST
Delegate Bartlett has called
upon the Chief Signal Corps Of
ficer for an explanation of pro
posed rate hikes by the Alaska
Communication System.
Noting that he learned of con
templated increases to be effec
tive July 1 only by newspaper ac
counts from Alaska, Delegate
Bartlett urged Maj. Gen. James
D. O’Connell to furnish a justifi
cation for the need of rate boosts
which, according to newspapers,
are designed to increase ACS rev
enues by 30 percent for civilian
traffic. Delegate Bartlett expres
sed his belief that the public is
entitled to know the reason for
the action which will increase
communication costs by nearly
one-third. “Surely,” 9 he wrote
General O’Connell, “if there is
any need whatsoever for increas
ed revenues in any percentage
the Department of the Army
should not be exempted from the
well-settled ’ rule that a public
utility system should give all the
pertinent facts to the people in
^ service. In one Alaska paper the
suggestion was made that the
Signal Corps intends to sell the
Alaska Communication System
to a private operator and this
projected rate boost is to be put
into effect chiefly to make the
system more attractive to a po
tential purchaser.
“I cannot believe,” Delegate
Bartlett concluded, “that after
the long and harmonious rela
tionship which the Alaska Com
munication System has enjoyed
with the Alaska public it will
want in 1957 to raise rates in
this manner and so soon after the
announcement without presenta
tion to the public as to the abso
lute need therefor.”
1 ANTICIPATED
DIVIDEND PER
RATE YEAR
Retroactive to Jan. 1, 1957
j First Federal Sayings & Loan Assn, of Anchorage
223 East 5th Avenue • Anchorage, Alaska
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AMERICAN LEGION, Legion
hall, 8 p.m.
LEGION AUXILIARY, Legion
hall, 8 p.m.
BOY SCOUTS, Legion hall, 7
p.m.
FRIDAY. MAY 17
NURSES ASSN., Health Center,
8 p.m.
HOSPITAL BOARD, Hosp. din
ing room, 8 p.m.
SATURDAY. MAY 18
KIWANIS SAFETY - CHECK
PROGRAM, City lot near fair
grounds
|*ONDAY, MAY 20
PALMER KIWANIS, Grange
hall, 12:05 p.m.
BSP EXEMPLAR DAY, Mat.
Hotel, 8 p.m.
EXPLORER SCOUTS, Elks hall,
7:30 p.m.
BADMINTON, Central school,
8-10 p.m.
PALMER DAY, Anchorage C
of C
TUESDAY, MAY 21
PALMER MOOSE, Moose hall,
8 p.m. ,
HOSPITAL AUXILIARY, Hos
pital conf. room, 1:30 p.m.
WEDNESDAY, MAY 22
CARPENTERS LOCAL, Carpen
ters hall, 8 p.m.
PALMER ELKS, Elks hall, 8 p.m.
VOLLEYBALL, School gym, 8-10
ST BARTHOLOMEW
EPISCOPAL CHURCH
SERVICES EACH SUNDAY
11 A.M. LEGION BSMT.
Carpenters. Remember 1
Carpenters Local 2251
Meets 2nd and 4th Wednesday
Each Month
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10 Youths to be
Confirmed May 19
At Sti John’s Church
A confirmation service will be
held at St. John’s Lutheran
Church in Palmer Sunday, May
19 during the morning worship
hour. Ten young people will be
received into the church mem
bership at that time.
A number of these young peo
ple, have received two years of
instruction in the fundamentals
of the Christian faith. A brief ex
amination was held before the
congregation this past Sunday.
The following persons will be
confirmed: Dennis Johnson,
Wayne Klayum, Jeanne Diedrich,
Deanna Diedrich, Donald Prew
itt, Klaus Jade, Joseph Rice,
Harold Bach, Nancy Wirtanen,
and Ericka Kalwies. The service
will be conducted by the Rev. J.
Einar Bach.
The public is cordially invited
to attend.
p.m.
LEG. & AUX. CONVENTION,
Skagway, May 22*25
THURSDAY. MAY 23
BOY SCOUTS, Legion hall, 7
p.m.
PIONEER GRANGE, Grange
hall, 8 p.m.
\ THE LIGHT THAT |
!; NEVER FAILS <! j
I Shining brightly through the <|
darkest shadows is the deep !;
and abiding faith in life eter- f
nal. The beauty of this prom- |!
ise should be expressed in j!
every funeral. <;
PALMER
FUNERAL CHAPEL
WM. BOUWENS, Mgr.
YOUR TIME IS OUR TIME . . .
YOU’RE WELCOME ANYTIME!
Choose your own time to drop in for any
thing from a quick drink to a leisurely
meal. You're always welcome, and weVe
always ready to cater to your mood.
Alpine Inn
O'NEILL & SONS — Mile 61 — Glenn Hiway
1
FRIENDS INVITED 2
TO JOHN-HUNTLEY 1
WEDDING MAY 18
Mrs. Beatrice Huntley and Guy \
John of Palmer will be united in J
marriage in a double ring cere- '
mony to be performed by the '
Rev. Bertran Rutan May 18 at 8 1
p.m. in the United - Protestant ;
Church. m ]
Ail friends of the couple are *
cordially invited to ‘attend the '
ceremony and a reception which
will follow in the church sQcial .
room.
Mrs. Huntley is postmaster of 1
SORORITY PLANS
rEA FOR MOTHERS
A Mother's Tea will be held by
ocal members of the Beta Sigma
Phi sorority on Sunday, May 19,
it the home of Helenmae Wie~
ierkehr from 2:00 to 4:00 p.m. All
nembers are invited to attend
ind take their mother or a guest
nother. Open face sandwiches
ind tea cookies will be served.
;he Palmer Post Office. Mr. John
.s high school custodian.
FOR FAST RESULTS TRY A
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