THE NOME DAILY NUGGET
GEO. S. MAYNARD. Editor
RUSSELL G MAYNARD. Manager.
Published every evening except Sunday by The Nome
Publishing Company, Nome, Alaska.
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DEMOCRACIES IN LINE
(New York Times)
To a world troubled by conflict of will and confu
sion of purpose in many quarters, news that the three
great democracies of France, Britain, and the United
States have agreed on a joint plan to stabilize their cur
rencies has brought reassurance. In hard-pressed Fran
ce this news is hailed by the government as signalizing
“the start of monetary peace.” London dispatches des
cribe it as “a turning point of many years.” In Wash
ington our own government finds in it a hopeful pro
mise of greater stability in international relations. It
is already evident that many other nations—nations
in the “sterling bloc”, in the “gold bloc” and in the “dol
lar area”—will follow the leadership now given them
by the three great financial Powers whose currencies
dominate the international money markets.
So deep is the satisfaction expressed over the ag
reement which has now been reached, and so bright
are the hopes vouchsafed for a revival of confidence
and at least a gradual improvement of international
trade, that it will certainly be asked why the world
had to wTait until the Autumn of 1936 for the achieve
ment of a financial entente whose beneficial consequen
ces now seem to be so evident. Why could not this
decision have been reached at an earlier stage of the
recovery movement, or better still, in the dark days of
depresssion?
ihe answer to this question must be found in the
sequence of events since 1930 and in the pressure which
these events exerted upon the policies of governments.
In September of 1931, following financial panic in
Central Europe and the flight of capital from Germany,
Great Britain left the gold standard. The immediate
reason for that step was a drain on the gold reserves
of the Bank of England. But behind this lay increas
ing pressure to resort to monetary action in order to
check the forces of deflation. As the Financial Com-i
mittee of the League of Nations has pointed out, the
fall of prices in all countries during the depression pro
foundly disturbed the relations between the cost of
production and the prices of goods produced, between
the burden of domestic debts and the reduced income
which the fall of prices occasioned. In the frequently
expressed opinion of the British Government, departure
from the gold standard helped first to halt a further fall
in prices and then to induce a moderate rise, which re
stored the equilibrium between costs and prices and
between debt burden and income, thereby paving the
way for a recovery of business.
Meantime this depreciation of the currencies of the
sterling countries exerted enormous deflationary pres
sure upon American prices and helped undermine val
ues on which the American banking structure rested.
Throughout 1932 efforts were made by the United Stat
es and other nations to persuade the British to stabilize
the pound. The question played a dominant part in the
discussion of a resettlement of the war debts. But the
British government, not yet convinced that it had ach
ieved a domestic price level satisfactory to its intern
al economy, rejected this appeal for stabilization.
There followed, early in 1933. the development of
the American bank panic; the change of government in
Washington; the suspension of the gold standard by the
United States; the meeting in London of the World Eco
nomic Conference, for which arrangements had been
made many months before. By this time Britain, hav
ing achieved a large degree of stability in domestic
prices, was ready to stabilize the pound. France, un
der great pressure from sterling depreciation, was eag
er for stabilization. But the United States now block
ed the way. Pursuing a monetary policy similar in
purpose to that previously pursued by Britain, the Am
erican government was unwilling to stabilize the doll
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ar until a more satisfactory level of prices had been
reached. The London conference was wrecked by the
fact that the national and international policies of the i
United States were at that moment essentially contra-'
dictory. It was not until early 1034 that the American
government formally devalued the dollar.
Since then, our government has favored stabiliza
tion, and the Treasury has on various occasions inter
vened in the money markets in support of other cur
rencies. But stabilization has beer, blocked, in this
later stage, first by skepticism on the part of Britain
as to whether the time was ripe and second by the diffi
culties of the French situation. The franc was plainly
out of line with both the dollar and the pound. Wheth
er to bring it more closely into line whether to resort
to devaluation or depreciation in order to check defla
tion in France, were questions which deeply divided
French opinion. There ensued a deadlock which was
not broken until events forced the hand of the Blum
Cabinet recently.
The deeply satisfying fact is that once all three of
the chief financial Powers were prepared for common
action not a moment was lost in establishing a common
front. Instead of new threats of competitive deprecia
tion, we have assurance of cooperative action to keep
currencies at stable levels. Instead of a frightened
withdrawal more deeply into isolated nationalism, we
have an emergence toward more effective internation
al collaboration. Instead of storm signals of future
chaos, we have reason to hope for security and order.
The three great democracies have shown a clarity of
purpose and an incisiveness of action which belies the
talk of an infirmity of democratic will. By their
prompt cooperation in a moment of crisis they have
helped thrown open the door leading to a better world.
PARENTS, NOT POVERTY, PERMIT CHILD CRIME
When you think of juvenile delinquency, you al
most inevitably think of slums and poverty, he child
from a poor family doesn’t have the chances that the
child from a more solvent family has; he has to play
in the streets, economic pressure warps his budding
personalty, and a drft toward crime is more or less nat
ural for him.
That is the accepted theory. It is surprising to
learn from a competent authority that it just isn’t so.
Dr. Sophia M. Robinson recently made a study of
juvenile delinquency for the Research Bureau of the
Welfare Council of New York City. Amazingly enough
she discovered that in one year as many children from
families with income o $25 a week or less were on pro
bation as delinquents.
In a sample year, 1930, the New York children’s
court put on probation 1,260 children from families with
incomes of $50 a week or more and 1,258 children from
families with incomes of $25 a week or less. Between
the $25 and $50 levels a similar proportion held good.
Now this, as Dr. Robinson points out does not mean
that poverty is a healthy social condition But it does
seem to mean, indisputably, that poverty is not the de
cisive factor in causing delinquent behavior. It often
enough may give a child the final push; but it cannot,
by itself, be blamed as a primary cause.
Dr. Robinson’s disclosure may compel us to revise
our thinking about the whole problem of delinquency,
and it probably will be a very good thing for us. For—
like all other mortals—we are lazy, tve hate to make
any involved mental effort if we can avoid it, and above
all things we do not like to find ourselves guilty of any
thing.
When the juvenile delinquency figures go on mount
ing, year after year, the easiest way out is to blame
them on poverty—and then forget them. However,
it is time to change.
The Nugget—Best Advertising Medium
JUST RECEIVED
OLYMPIC AND SCHLITZ BEER.
Also Bulk Wines and Liquors. We Are Closing out
Our Entire line of Mens Furnishings Rubbers
Boots and Pacs.
NOME LIQUOR STORE
(Next Door To Fire Station)
ARCTIC BEER PARLOR
AND CARD ROOM
Between Pioneer Drug Store And Dream Tbentre
Jack Solomon, Pron.
DELINQUENT TAX
NOTICE
NOTICE IS HEREBY GIVEN, that the Delinquent
Tax Roll of the Real Property of the City of Nome,
Alaska, for the year 1935 has been completed and is now
open for public inspection at the office of the City Clerk,
and that on Wednesday, the 30th day of December,
193G, at 10 o’clock A. M., or as soon thereafter as the
same can be considered, the said Roll will be presented
to the District Court of the Territory of Alaska, Second
Division, for adjustment and order of sale of the prop
erty described in the said Roll. Set out below is a des
ciption of each tract on said Roll on which the taxes are
not paid for the said year, and set out also are the re
spective persons, companies, etc. to whom the property
has been assessed, and the amount of the tax and pen
alty. Interest will also be payable thereon calculated
to the date of payment.
Dated at Nome, Alaska, this 26th day of Oct., 1936.
M. J. WALSH, City Clerk
Description Assessed To 1935 Tax Penalty
Lot 46, in Block 6 .Leo Kent . 10.00.50...
Lot 16 in Block 8 ..P. Wynants Est.1.4Q.....07....
S. 92’ Lot 8, in Block 15 .Leo. Kent .9.40.47....
W. 27’ Lot 24 in Block 66 .Mrs. C. Ahiyah .. -3.00.-....15—
Lot 5 in Block “E” ....B. Kelly Estate - 20.00 ...-....1.00 ...
Delinquent Tax List Of Personal
Property
Assessed To Description 1935 Tax Penalty
Melvin Flora..Motorcycle . 5.00....25...
Finn Alley Cafe.-.Rest. Equip. Stock
Etc.15.00.....75...
Nome Community Reindeer Co.Auto Truck*. 2.10.. .10....
Deo Kent .Trans. Equip. 20.00.1.00. ..
Pioneer Drug Company.Merchandise 160.00......8.00. ..
Publish—Nov. 7, 14, 21, 28,1936.
•
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