THE NOME DAILY NUGGET
- GEO. S. MAYNARD, Editor.
RUSSELL MAYNARD, Manager.
Published every evening except Sunday by the NOME PUBLISHING
COMPANY, Nome, Alaska.
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't’he Associated Press is exclusively entitled to the use for republica
tion of all news dispatches credited to it or not otherwise credited in
this paper and also the local news published herein.
Entered in the Post Office in Nome as Second Class matter.
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GOLD AND WORLD TRADE
(New York Times)
Statistics of world trade published by the latest bulle
tins of the League of Nations and the International Cham
ber of Commerce are interesting. They show that world
trade, measured in gold values, reached, in July its lowest
point since the depression began. Exports and imports to
gether, in these values amounted to only 31.6 percent of
the 1929 monthly average.
In addition to the general sluggishness of world pro
duction due to other factors, the nations of the world have
been busy in the last few years inventing ingenious ways
of choking world trade. This has not been their professed
object, which is to increase exports and reduce imports. The
second half has proved easier to achieve than the first. Un
fortunately, it has made the first impossible. One nation’s
imports are merely another name fqr other nations’ exports.
When any great country abandons the gold basis, the
adjustment of prices that subsequently takes place is a two
way adjustment. International commodities rise in price in
that country to reflect the currency depreciation, but they
also tend to fall in the gold countries. This is partly because
the nationals of the country with the newly depreciated mon
ey are reluctant to pay the suddenly higher prices for in
ternational commodities, and so reduce the world demand
temporarily, and partly because the abandonment of gold
in that country tends to undermine international confidence
elsewhere. Thus the desertion of the gold standard, partic
ularly by Great Britain and the United States, has helped
to bring about a continued decline in prices in the gold coun
tries. The low world trade in terms of gold values in July of
this year is partly explained by the price index of a gold
standard country like France. Its index number of prices
in July last stood at 361,.compared with 197 in July a year
ago and 626 in 1929.
The depths to which foreign trade has now fallen in
gold values help to explain the predicament of the nations
in the “gold bloc”. When world trade falls in gold values
they feel it directly. In the depreciated-currency nations the
situation is disguised. The League of Nations’ monthly
bulletin places the July exports of the United States in old
gold dollar values at $94,620,000, but our own figures show
them as $161,790,000. All this is far from an argument for
depreciation. The figures do not bear out the prevailing
notion that when a nation depreciaates its currency it al
most automatically increases its exports and reduces its im
ports. On the contrary, French exports, the League’s Bulle
tin shows, fell only 6 percent in a y£ar in which France
reduced imports by 23 percent, and while, according to the
International Chamber ~of Commerce figures, American
exports in June were less than 24 percent of 1929 gold val
ues, and British exports less than 33 percent, gold bloc ex
ports were more than 37 per cent. But the depreciation
theories have so far been proof against all statistics.
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McCONAGHY AND BROWN
- Contractors
BUILDING MATERIALS, SASH AND DOORS,
CELOTEX, PLYWOOD, CORRUGATED IRON
AND GLASS
—FURNITURE—
Office and Warehouse West of Nome Harbor
Lighterage Warehouse
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BOOST FOR YOUR CITY
(By Edson R. Waite)
Some cities have citizens who preach that an ounce of
action is worth a ton of promises—and then practice what
they preach.
Some cities are awake to the fact that it takes better
business to build better cities. Some cities make better
business one of their chief concerns. That is why they are
better cities.
Some cities believe that it takes teamwork to get results
and that the majority sitting steady waiting for a few live
citizens to do it won’t work.
Cities don’t stand still; they go forward or backward.
The right kind of teamwork always helps to move a city
forward. You should put your faith in.the future of your
city. It costs nothing to be loyal to the home city. Every
citizen should boost the home city and help steer the ship
that carries them. A poor booster is a man who says some
thing good about his home city only when he finds it con
venient to do so. A live booster doesn’t wait; he hunts op
portunities to boost.
A real booster is cordial and human; he boosts his city
because he takes pleasure in doing it. A real booster does
not sit on the side lines; he gets in the game and does his
full share to bring progress and properity to the home city.
He is not a hot-air merchant or a buck-passer. He is “John
ny on the Spot” and always willing to work. He radiat
es a spirit of “We can and we will.”
Real boosters are the kind of men to have; they are
the men who do things; they are the men who build cities;
they are the kind of men to tie to; they start somewhere and
get somewhere. They are not only good starters, but they
are good finishers.
Boost for your home city, and that means Nome!
The public has tWo Classes of concerns to deal with—
the advertiser and the non-advertiser.
The advertiser invites your business and puts himself
on record through the printed page. He tells where he is,
what he has, and stands behind his statements. You take
no chance in dealing with the firm that advertises.
i
The non-advertiser does not put himself on record
through the printed page; he does not invite your business
by courteous advertising, so why take a chance? Buy from
the concern that advertises.
Many concerns promote economy by spending more
money for advertising.
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wmmmm mama s
NOme HArbor
Lighterage COmpany
AT YOUR SERVICE
FOR
WINTER FUEL, GASOLINE, OILS,
LUBRICANTS AND GREASES FOR ALL
PURPOSES—ALSO
PRESTONE, DRY CLEANERS, AND OTHER
SPECIALTIES
LEAVE ORDERS AT POLET’S STORE OR
NOHALICO
OFFICE ACROSS FROM WAREHOUSE
PIONEER DRUG CO.
LOCATED IN
OUR NEW
STORE
(FRONT STREET AT HUNTER WAY)
; * I
XMAS CARDS ON SALE NOW
PIONEER DRUG CO.
ED. STEFFEN—CHARLOTTE FOTTER
MIROW AIR SERVICE
Nome, Alaska.
FASTEST THRU SERVICE TO FAIRBANKS
i
MINERS AND MERCHANTS BANK
OF ALASKA
NOME, ALASKA.
Has established temporary quarters in
the former office of W. J. Rowe Transfer, and is
carrying on its business as usual.
WE SOLICIT YOUR ACCOUNT
NOW THAT TOUR BUILDING IS FINISHED THE^LAST
DUTY AND TASK IS TO BEAUTIFY AND PRESERVE IT
WITH
W. P. FULLERS AND COMPANY’S
Paints, Varnish, Boiled Linseed Oil, Turpentine, Glaser Points
Putty, Sand Paper, Brushes, Washable Wall Paints, Fuller
glo and other Fuller Products. We have Fuller Doors, Wind
ows, and Large Glass.
In ease you want anything in the “Fuller” Line we cannot
supply here, we are in a position to quote you the “Fuller”
Seattle prises and if you desire can arrange to have your
orders expressed to Fairbanks and through to Nome via air
plane. NOW is the time to start YOUR “Fuller” want list for
materials, to be shipped on the first boats and not depend
upon your memory at the last moment. (You know that
means something forgotten). Come in and select your colors
from “FULLERS” “Color (hurds”.
Bolcom-Canal Lumber Company
S. W. TAGGART, Agent
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