Treasury Dept. Racked On
Gold Subsidy Issue Stand
Tieasury Department officials were taken to task last week
by the Subcommittee on Minerals, Materials and Fuels of the
Senate Interior and Insular Affairs Committee for their failure to
produce a program to increase the mining of domestic gold.
The subcommittee, of yrhich Senator Ernest Gruening, is a
member, requested Treasury Dept, witnesses to produce an ac
ceptable plan, since they apparent
ly do not approve of S.J. Resolu
tion 44, co-sponsored by Senator
Gruening. This resolution would
provide subsidies of up to $35 per
ounce for domestically mined gold.
Mining Costs
Senator Gruening pointed out that
while the price of gold has re
mained fixed since 1934 at $35 per
ounce, the prices of all other com
modities has risen. He went on to
point out that mining equipment
costs up to 190 per cent more than
it did in 1934. according to mining
equipment producers. He said it
costs $20,000 to outfit a single miner
today as compared to $1,000 in the
’30s.
The Alaskan senator said that he,
as well as the other members of the
committee, found it impossible to
follow the department's reasoning
that a subsidy for gold mined in
the United States would cause alarm
among other nations and would be
accepted as a prelude to the de
valuation of the dollar.
In answer to Gruening's state
ment that within two or three years
there would be no more domestic
gold miners in the United States if
present policies of maintaining the
1934 price were continued, Robert
V. Roosa. under secretary for mone
tary affairs of the Treasury Depart
ment said. ‘'All things relative . . .
I would be more concerned with
the resulting havoc and run on the
dollar.”
Would Request Veto
In conclusion, Senator Frank
Church (D-Id3ho) said it was clear
from the attitude of Treasury offi
cials that in order to secure action
the Congress would have to go
“over, under, through, or around
the Treasury Department.” His
statement was made after Roosa said
if Congress acted >avorably on S.J.
Resolution 44, he would ask the
President to veto it.
Quintet Presents
McIntyre Fantasy
In Concert Tonight
tj
The world premiere of Dr. Paul
McIntyre’s “Fantasy on an Eskimo
Song" will be one of the major
program attractions at Wednesday’s
public concert at the University of
Alaska by the distinguished West
wood Wind Quintet.
The group, which has appeared
previously in Fairbanks and other
Alaska cities under the auspices of
the Alaska Music Trails, will appear
at 8 p.m., Wednesday, today, in
the Schaible Lecture Hall, Bunnell
Memorial Building. There will be
no admission charge or reserved
seating.
Wednesday's program will in
clude Joseph Haydn: “Divertimen
to No. 1 in B-Flat”; Gieachino Ros
sini, “Quartet No. 1 in F”; Ervin
Schulhof, "Divertissement for Oboe.
Clarinet and Bassoon”: Ingolf Dahl.
“Allegro” and “Arioso,” and Carl
Nielsen, “Quintet for Finds.”
Dr. McIntyre, who joined the
University of Alaska faculty in Sep
tember, 1961, came to the state uni
versity from Regina, Saskatchewan,
where he was conducting the sym
phony. He attended the University
of Toronto, Bachelor of Music de
gree, ’51; Artist Diploma, ’52, and
Doctor of Music, ’58.
GENE AUSTIN
“The Blue Heaven Man99
and his group — featuring . . .
Stormy Knight — Paul Bunyan — Marian Lodge
Gene Austin holds the all time tops in record sales
— over 80 million — with such records as My Blue
Heaven, Ramona, Sleepy Time Gal, Melancholy Baby,
Love Letters In The Sand, I Can't Give You Anything
But Love, etc.
APPEARING NIGHTLY!
Final Weehl
The KEYBOARD
326 Chena Drive — Opposite Piggly Wiggly
Drivers Receive
11 Safety Awards
Eleven Fairbanks postal drivers
today received safe driving awards
in a brief ceremony at the Post
Office this morning.
Booker T. McElroy received a
ninth-year award for his long
record of outstanding safe driving, i
J. O. Miles received an eight year
award and A. A. Nobles received a
seven year award. Receiving six
year awards were Fred Brunner and
R. A. West. J. C. Thomas received
a four year award, while J. E. Ran
dolph. W. W. Blackman and P. E.
Riewe received two year awards.
Receiving one year awards were
F. L. Wellman and F. W. Comer.
The awards are awarded annually
by the National Safety Council in
connection with the Post Office De
partment.
“I am greatly pleased and feel it
has been a privilege and a pleasure
to make these awards and to show
another year of accident-free driv- j
ing in the Fairbanks area," smd |
Fairbanks Postmaster William 01
likainen.
Valdez will observe its annual
Gold Rush Days celebration August !
2. 3. 4. 5.
DAWSON CITY TO CELEBRATE*]
FIRST 'GOLD RUSH FESTIVAL'
It’s another stampede to Dawson . . . only this time it’s for
the Dawson City Gold Rush Festival. *
Dawson City, a booming metropolis and center of the great
Klondike gold rush which faded into a ghost town when the
gold rush died, is once again springing to life, as it prepares for
the first year of the Dawson City*
Gold Rush Festival, which will run
July 1-August 25.
Much of the original city is now
being restored: the old Post Office,
the Gun and Ammunition Shop, the
Blacksmith Shop, the ‘Red Feather”
and the “Monte Carlo” Saloons,
and Mme. Tremblay's Store, (fea
turing the tops in fashions for the
’90s).
The old sternwh^eW Keno
been hauled from its berth on the
riverbank at Whitehorse up to Daw- ■
son. where it will house a museum
cod“ot'r'n on TOnnd'Ve.
The Palace Grand Theater, where
such great actors as ‘Klondike
Kate” Rockwell and Douglas Fair
banks Sr. once trod the boards, has |
been completely restored, and will
present the world premiere of
“Foxey,” a new musical comedy
starring Bert Lahr and an inter- |
national cast.
Inside Alaska Tours, official
Alaskan representative of the festi
val. has announced that there will
be weekly tours to Dawson from.
Anchorage (via Cordova Airlines,
the official festival carrier), and
from Fairbanks (via Fairbanks Air
Service, Cordova’s Fairbanks rep
resentative). There will also ba
tours available via Alaska Motor
Coaches, the official coach for the
festival.
Flights w'il! leave Fairbanks eachl
Saturday, and return on Sunday.
The complete tour will include ac
commodations at one of the hotels,
sight-seeing, and box seat tickets
for “Foxey” in the evening.
In addition to the regular package
tours, there wnl be a special
Fourth of July tour that will leave
Fairbanks at 7 a.m. on the Fourth,
and return at 7 p.m. People inter
ested in this .special flight should
contact Inside Alaska Tours.
YOUR FUTURE
IS4 YOUR HAMOS
when you save regularly...
You can make your own future when you decide to DO
something about it, instead of leaving it to "happenstance."
The most practical, purposeful thing you can do is to adopt a
policy of systematic saving geared to your objectives.
Why not decide right now to take your future into your
own hands? Chart your own financial course to everything
you want to do and have. Then open a savings account here!
m
■rwusfr'-'i
Member Federal Deposit
Insurance Corporation
Member Federal Reserve
System
I
FIVE CONVENIENT OFFICES TO SERVE ALL YOUR BANKING NEEDS
MAIN OFFICE—in the Northward Building
Lr
AIRPORT ROAD BRANCH
Airport Road and Turner
EIELSON FACILITY
Baker Field House
DELTA BRANCH
—Delta Junction
NENANA BRANCH
Nenana, Alaska
George
Williams
Drugs
1330 Cushman
Dial GL 2-3131
Open 9 A.M.-10 P.M4)ail]
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