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VOLUME 10, NUMBER 27.
IIYDER, ALASKA, SATUR DAY, MARCH 24, 1934.
SINGLE COPIES 10 CENTS
WESTERN GOVERNORS
URGE REMONETIZATION
Immediate enactment cf leg
islation establishing silver as a
puimary money metal and gov
ernment regulation of the price
in relation to the price of gold,
was demanded in resolutions
passed at a conference of
Western governors held in Salt
Lake City last week.
The resolutions declared that
silver must be reestablished by
law as a primary money metal
and that the price must be reg
ulated by law in relation to
gold. Congress was urged to
enact such legislation and em
body the principles of the
Wheeler bill during the present
session.
British Spinners Demand Silver
The Federation of Master
Gottorn Spinners Association,
one of Great Bri'tains strongest
manufacturing associations, is
demanding the raising of the
price of silver as an aid to that
great industry and also “as
of vital concern for the secur
ity and well-beiing of the Em
pire,” according to a leading
article in a . special 24-page
Silver Edition of the London
Times of February 20, a copy
■of which was received by 'the
Herald on the last mail.
The argument of the cotton !
spinners occupies a full page
and includes tables showing i
that the decline in the pros
perity of the industry has been
coincident with the decline in
the value of silver.
A statement presented by the
association says in part:
“We regard the raising of the
price of silver as not only es
sential to the survival of the
Lancashire cotton industry, but
as of vital concern for the se
curity and well-being of the
Empire.
“We know that the price of
silver can be raised by reduc
ing the pound; and, if the ex
perts still advise that the rais
ing of the price of silver in the
way we recommend is impos
sible, then we insist on immed
iate action by way of reducing
the value of the pound.
“There can be no doubt the
only way out of the morass is
to raise the price oif silver and
this is Lancashire’s demand.”
-o
Would Guarantee H. L. Bonds
Guarantee of interest on the
bonds of the Home Loan Bank
corporation is provided for in
a bill passed by the Senate
Monday. The object is to
make the bond more attractive
to investors, vyho show little
disposition to puchase them.
Delegate Asks Help for Indians
A stirring appeal for govern-'
mental assistance for the na-!
tives of Alaska was made re
cently by Delegate A. J. Di- j
mond before the House of Rep
resentatives during a discussion
of the annual appropriation
for the Bureau of Indian
Affairs.
Citing the need for more
schools and hospitals, and
pointing ou't that the Interior
Department appropriation bill
provided between $59 and $60
apiece for Indians in the States
but only around $29 apiece for
the Alaska Indians.
-o
Government Loans To
Industry Endorsed
President Roosevelt on Mon
day endorsed a proposal for
direct loan aid by the govern
ment .to industry through the
establishment of 12 regional
ciedit banks. The banks would
assist business and industrial
concerns employing labor by
advancing loans for rehabilita
tion and expansion; thus over
coming the refusal of private
banks to loan funds except un
der prohibitive conditions.
The President expressed con
cern over the continued decim
ation of the smaller industrial
concerns, pointing out their
collective employment of sever
al hundred thousand workers, j
Prohibition Reported Repealed
Several radio listeners report
hearing Wednesday night a
news broadcast indicating that
Congress had passed the pend
ing legislation repealing pro
hibition .n Alaska and c her
territories. Owing to poor re
ception full details were diffi
cult to hear.
-o
Premier Foreman III
Gug Rudolph, Premier mine
foreman, who has been severe
ly ill for some time, was sent
south Monday evening for
medical treatment.
-o
Alexandria Development
On Interest Basis
Reports from Vancouver say
no cash payments are involved
in the deal under which Pre
mier Gold Mining Company is
developing the Alexandria
property on Phillips Arm. In
consideration of developing the
property and bringing it into
production, Premier is to re
ceive a 60 per cent interest, it
is said.
SILVER BILL PASSES HOUSE
Silver supporters were elated
Monday by an announcement
from Washington sta'iing the
House of Representatives had
passed by an overwhelming
majority the Dies silver biil,
providing for the acceptance of
foreign silver in payment for
surplus agricultural products
at prices for the white metal
25 per cent higher than the
market.
The vote on the bill was 257
to 112, eleven more than the
two-thirds majority required to
carry the measure over the
presidential veto, should such
action become necessary to en
actment.
Coming on the heels of the
declaration by Secretary of the
Treasury Henry Morgenthau
that administration investiga
tion had revealed that “some
silver advocates” were inter
ested in speculating in silver
stocks, the remarkably large
vote was looked upon as re
buking the Secretary’s implica
tion that Congressmen were
among the speculators referred
to by him.
The Morgenthau statement
revealed that tlie object cf the
government’s recent investiga
tion of the silver situation was
to determine if all the numer
ous silver advocates were “en
tirely disinterested.”
While asserting that “some
were not disinterested,” the
secretary admitted that the
investigation had revealed that
no member of Congress was a
buyer or seller of silver specu
lative stocks.
The measure approved by the
House was introduced by Rep
resentative Martin Dies, Demo
crat, of Texas. By giving in
creased value to foreign silver
in the purchase of surplus agri
cultural products, the measure,
if enacted, is expected to in
duce a marked increase in ex
ports of those commodities.
President Roosevelt, however,
is said to be opposed tc< further
action on silver and may exer
cise the veto power if the meas
ure passes the Senate.
Although disclaiming inten
tion to undertake further act
in favor of silver, an announce
ment that Professor Rogers,
one of ’the administration
“brain trust,’’ will proceed to
China to study the silver situ
ation there, has revealed that
President Roosevelt and his
advisers have not relegated the
white metal entirely into the
background of administration
consideration.
Silver supporters expect no
results from the China mission,
pointing out that the Chinese
government is not now desir
ous of increasing the price of
McDonald Writes of Atlin
James F. McDonald, former
local restaurant man who quit
dealing hamburgers and tcnok
to the hills several years ago, is
now located in the Atlin dist
rict, where he is engaged in
prospecting, according to a let
ter received by the Herald.
Mr. McDonald describes the
district as small in mining pro
duction at present and confined
at present entirely to placer
gold, of which about $250,000
worth was produced last year.
There are possibilities of in
creased production both in
placer and quartz, he states.
The climate is of the interior
type, slightly affected by prox- i
imity to the coast.
“The increased price of gold
materially aids the miners,”
Mr. McDonald states.
“There is a government liquor
store in Atlin and no one ie on
relief,” the letter continues, “so
we may consider ourselves well
favored these times.”
Mr. McDonald states that
John “Scotty” Thomson is lo
cated on Birch Creek, where
he was engaged this winter in
what is termed “scientific
sniping.” Continuing, the ur
bane James wrote that Thom
son spent last winter in an ex
tensive prospecting trip and
adds “with the usual results.”
Thomson “maintains his cheer
ful disposition, however, and I
know keeps the wolf well away
from the door.”
“We still hope to find that
Bryan was right and that the
price of silver will again be
come on a ratio with gold, as
it was from the dawn of hist
ory until the nations erected
the Golden Calf and wor
shipped,” the letter continues.
“I have only admiration for
the President and believe he is
going step by step to restore
silver to its rightful place in
the world’s commerce. It will
require considerable diplomacy
and the cooperation of Eng
land, but I believe he wiill do
it.”
In conclusion Mr. McDonald
sent regards to all local friends.
Mining Man Returns
Lester E. Bigham, former
pioneer resident of the camp,
who has been in Juneau dur
ing the past two or three years,
returned Thursday accom
panied by his son, Billy, to look
after local mining interests.
silver because of probable
harmful effects on China’s ex
panding manufactuirng indus
tries and which are aided by
low productive costs incident
to the depreciated value of her
silver money.
LOCAL RAILROAD
CHARTER OPPOSED
Efforts to extend the charter
of the local Canadian North
Eastern Railway, the old Lear
River railroad, extending north
from Stewart, were bitterly op
posed in hearings held lasit
week before the Private Bills
committee of the B. C. Legis
lature, according to Victoria
reports.
Owned at present by the C n
solidated Mining and Smelting
Company, and Canadian Pacif.
ic Railway, the line, 14 miles
in length, was built in 1910 by
Sir Donald Mann and associ
ates to provide transportation
to the Red Cliff mine.
The present charter, renewed
in 1929, provided for the ex
tension of the line to Fort Gra
hame on the Finlay River with
in a period of five years. Ulti
mate extension from Fort G;*a
hame to the Peace River dist
rict was contemplated at the
time of the purchase, according
to current reports.
It is this prospect of extension
to the Peace that forms the ba
sis of present opposition, owing
to possible conflict with the in
terests of the government
•owned Pacific Great Eastern
railway, extending northward
from Vancouver to Prince
George, near the border of (the
Peace River district.
Speakers before the commit
tee contended that extension of
the charter would mean death
to the P. G. E. and the govern
ment investment of $67,500,
000. So long as a chanter for
the Stewart line existed it
would be impossible to per
suade any interests to extend
the P. G. E. to the Peace, and
only such an extension would
make the P. G. E. pay, it was
declared.
W. J. Asseltine, representa
tive of ‘the Atlin district, sup
ported the charter extension,
with reasonable safeguards to
assure construction of the line
as far as Fort Grahame. Coun
sel for the owners contended
it was unreasonable to have
expected construction in the
last five years.
CWA Crew Further Reduced
A further reduction of two
in the number of men employed
on the local CWA operations
on Salmon River was made this
week by J. K. Green, director
of the work, in response to ah
(order from A. F. Ghiglione,
district engineer.
The order reduces the num
ber employed to eighteen, in
cluding the foreman.