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VOLUME 9, NUMBER 28.
HYDER, ALASKA, SATURDAY, APRIL 22, 1933.
SINGLE COPIES 10 CENTS
UNITED STATES GOES
OFF GOLD STANDARD
Taking the most decisive and
far-reaching step so far at
tempted in his prosperity re
construction program, Presi
dent Franklin D. Roosevelt an
nounced on Wednesday the im
mediate restoration of the em
bargo on gold exports frcm the
United States as a move to im
prove domestic commodity
prices. The effect of the move
was to take the United States
off the gold standard, tempo
rarily at least, leaving the price
of the dollar to take care of jt
self. »
The action was said in
radio reports to be the first
step in a campaign to establish
a controlled price level and
controlled credit to counteract
deflation. It was said that the
President hopes eventually to
get the nation back on the gold
standard, although this stand
ard may be on a different gold
basis than in the past.
Giving up the effort to sup
port the dollar in foreign ex
change is regarded as not only
serving the purpose of increas
ing American commodity pric
es but will also place the Pres
ident in a strong position for
economic bargaining with 'oth
er natiofis in relation to tariff
and other economic questions.
The response to the Presi
dent’s pronouncement was im
mediate. Stocks and commodity
prices leaped upward, the for
mer rising steadily from $1
to more than $3 a share on the
New York Exchange. Wheat
prices rose more than a cent to
nearly 3 cents in Chicago, set
ting a new high for the season
with September deliveries
quoted at 68 Vi cents. Cotton
rose in New York about $1 a
bale and other staples, if not
advancing, remained firm.
Of especial interest to Hyder
residents was the announce
ment that silver futures had the
most spectacular rise in the
trading history of that metal
in New York tfith gains of 3
cents per ounce.
The British pound sterling al
so participated in the upswing
by rocketing upward more
than twenty points to §3.81 for
cables, the highest quotation
since April 1931.
-0
Mr. and Mrs. I. Finlayson
and family left Monday for
Vancouver with the intention
of taking up residence in the
south.
N. M. Traversy has greatly
improved the appearance of
his popular resort on Main
Street by applying a coat of
paint.
DEVELOPMENTS IN THE
ALASKA LEGISLATURE
New bills of general interest
introduced the since last report
include the following:
House bill by Ways and
Means committee limiting (the
expense of relief or rescue of
lost persons.
Senate bill by Campbell, An
chorage, imposing a $5 road
tax ,to be Levied on all males
between 21 and 60 years of age
and on every female between
same ages if gainfully em
ployed or having an independ
ent income; proceeds to be
expended on roads and trails.
House bill by Norland, Fair
banks provides for a non-part
isan direct primary election
system ito replace the present
party system. Under the meas
ure the names of all candidates
would be placed on the same
ballot, thereby permitting vot
ers to vote for any candidate
regardless of party affiliations.
The itwo highest candidates
for each office w'ould be de
clared nominated, even though
both were of the same political
party.
uuuac uiu uy ivcuvjc,
kan, seeks appropriation of
$5,000 for subsidy for some
radio station south of the Gulf
of Alaska.
A large number of bills in
volving alterations of existing
legal enactments have also
been introduced in both houses.
The Hellerich “beer bill,” af
ter a week of revision and al
teration which changed mostof
the original provisions, passed
the House after further amend
ments by that body and after
Representative Joe Green of
I Hyder had led a strenuous
I fight t'o remove the licensing
machinery from the control of
; the district courts and place it
j under the jurisdiction of the
Territorial Auditor. His ef
forts were lost, however, his
amendment being rejected 8 to
7. He also lent an amendment
! designed to remove a provision
in the bill denying license to
! eating establishments not in
j business one year before apply
j ing for license. The local rep
i resentative was more success
| ful with another amendment
| designed to liberalize the regu
lations regarding dispensaries!
j of beer and wine by removing
I a provision of the measure re
quiring thait beverages b e
! served only to patrons seated
at tables provided for that pur
pose. Mr. Green’s amendment
extends dispensation to persons
“seated” in the dispensary,
| whether at tables or counters.
He argued that the “table” pro
's vision would disbar from dis
! pensation many established
■ soft drink parlors, drugs stores,
Continued on Page 4
ROOSEVELT PLANS
WORLD RESTORATION
OF GOLD STANDARD
Restoration of the world to
the gold standard but upon a
lowered valuation of the gold
basis is one of the underlying
objects of President Roosevelt’s
action in restoring the embargo
on gold exports, according to
radio reports Thursday even
ing.
The temporary abandon
ment of gold involved in the
President’s action places the
United States on the same foot
ing as Great Britain and other
nations off the gold standard.
Succesful culmination of the
President’s plans would, it was
said, have the effect of increas
ing the value of the gold hold
ings of all nations and tend to
bring about a greater stabiliz
ation of world currencies, in
addition to providing a more
equable basis for resumption of
world trade. It would also
have the effect of increasing
commodity values both at home
and abroad.
A further drastic move in the
Roosevelt economic plans re
vealed Thursday in the Wash
ington announcement that Cong
ress was considering a bill
granting to the President pow
er to reduce the gold content
of the dollar by 50 per cent if
necessary, with the object of
creating a system of controlled
currency inflation which was
considered preferable to the is
uance of new currency through
the medium of the printing
nroQQ
Proposes Silver for War Debts
The measure also proposes to
grant to the President author
ity to accept silver in payment
of war debts, thereby restor
ing in a degree the white metal
as a world monetary medium.
The President under thi3 pro
vision would be authorized to
accept up to a billion dollars in
silver bullion in payment of
foreign war obligations. This
measure is said to have the ap
proval of silver supporters.
The upward swing of prices
in response to the President’s
broad financial moves was con
tinuing Thursday and Friday,
with a steadily rising market
in shares and commodities.
Sales on the New York Stock
Exchange Thursday totaled 7,
130,000 shares.
Dr. Mandy Takes Bride
Dr. Joseph T. Mandy, resi
dent engineer for the north
eastern mineral survey district
of B. C. and well known here,
was married recently in Van
couver to Miss E. Madge Jones,
of Richmond, Indiana.
MARCH EXPORTS SHOW
GAIN OVER MARCH 1932
Alaska exports of gold, sil
ver and merchandise in March
were valued at $836,250, ac
cording to the monthly state
ment of Collector of Customs
J. C. McBride. This was $105,
800 greater than for the same
month last year, when ship
ments totaled $731,450.
Gold and canned salmon
headed the list with values of
$381,823 and $224,424 re
spectively. Merchandise ship
ments were valued at $454,
427. Following is the full re
port:
Animals . 100
Fish (fresh and froz
en except shell-fish:
Halibut . 28,696
Salmon . 100,115
All other . 60
Canned, except shell
fish :
Salmon . 224,424
Cured or preserved,
except shell-fish:
Cod . 3
Herring . 8
Salmon . 308
Shell-fish:
Clams. 6,847
Crab3 . 6,089
Shrimps . 10,134
Other fish and fish
products. 1,342
Fur and fur-skins:
Blue fox . 4,811
Silver or black fax .. 530
Red fox. 11,202
White fox . 395
Mink . 8,829
Muskrat . 84
Beaver . 3,329
Ore, matte, regulus:
Lead . 7,537
Ti o p hies, specimens 50
Total value products
of Alaska . $415,998
Products of United
States returned . 38,429
Total value shipments
of merchandise . $454,427
Gold . 381,823
Silver . 2,331
Grand total
$836,250
Wolfle Conviction Upheld
Conrad Wolfle, Spokane pro
moter, convicted last year of
fraudulent use of the mails in
the promotion of the Cantu
group, local mining property,
must serve the sentence of four
years with a fine of $1,000
meted out by the federal couit
in Seattle under a decision
handed down last week by the
circuit court of appeals at San
Francisco.
Although indicted in 1929,
Wolfle was given time to at
tempt to finance the property
; before being tried, but failed
to succeed.
ROOSEVELT FAVORABLE
TO SILVER DISCUSSION
Definite assurances from the
White House that the silver
question will be a feature of
the forthcoming world econom
ic conference discussions creat
ed rejoicing among silver ad
vocates Tuesday.
Radio broadcasts reported
that the President was giving
close attention to the silver
question with a view to taking
up the subject of international
use of silver with foreign rep
resentatives during the White
House conferences starting this
week. From the broadcasted
statements it appears that the
President is entirely favorable
to action on the silver question
and will endeavor to bring
about an international accord
at the international conference,
which is now scheduled to start
on June 12. That he may also
press the issue in Congress was
indicated in a recent statement
by Representative White of Id
aho in which White said after
a conference with the Presi
dent that he had gained a def
inite impression that the chief
executive would propose some
legislation favorable to silver
at the present session.
White said he told the Presi
dent if the administration did
not propose some legislation
favorable to the white metal it
“would upset the existing ac
cord in the democratic mem
bership of the House.”
Secretary of State Hull also
intimated this week that the
silver question will occupy a
prominent place in the agenda
of the world economic confer
ence.
ine aeieat oi tne wneeier
16 to 1 remonetization bill in
the Senate on Monday, al
though disappointing to the
more eager silver proponents,
i3 considered by the more con
servative as merely a test of
strength the results of which
were distinctly gratifying. As
against acceptance of the pro
posal at that time it is pointed
out that the bill was not voted
upon as a direct issue but as
an amendment to the farm re
lief bill, with which the silver
issue is scarcely associated. As
was evidenced in the defeat of
the same measure when pre
sented as an amendment to the
Steagall bank bill during the
last session of Congress, there
is reluctance on the part of
many senate members who are
favorable to silver toward tak
ing definite action until the is
sue is conosidered internation
ally at the economic confer
ence. It is also pointed out that
the earlier vote of 18 for the
measure increased to 33; near
ly twice as many as before.