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yOLUME 10, NUMBER 7.
HYDER, ALASKA, SATURDAY, NOVEMBER 4, 1933
SINGLE COPIES 10 CENTS
ROOSEVELT STEADILY
BOOSTING GOLD PRICE
Almost daily, increases in the
price of gold in the United
States have marked the devel
opment of President Rosevelt’s
new gold purchasing plan for
controlling the value of the
American dollar, since its in
auguration a week ago Wed
nesday.
The initial price offered for
gold on that day was $31.36
per ounce and subsequent of
ferings have ranged steadily
upward to as high as $32.36
Friday. In every instance the
price fixed was considerably in
advance of the world market
price, that of the opening day
being 27 cents above the Lon
don market. Later offerings
ranged to more than $1 above
London quotations on the same
day.
Financial experts point out
that the President’s plan to re
duce through gold price con
trol the abnormal purchasing
power of the dollar, and there
by increase the low prices of
commodities, is in effect “de
valuatihg” 'the dollar. Also it
is designated as “controlled in
flation, (of commodity val
ues) as opposed to unlimited
“inflation,” the issuance of
unsecured paper currency or
“fiat” money, which is conced
edly an effective but highly
dangerous method of increas
ing commodity values.
Viewed from another eco
nomic angle, the aim is really
“reflation” of commodity val
ues by bringing the purchasing
power of the dollar to a level
comparable to the one existing
prior to the depression, there
by restoring commodity prices
to approximately the same lev
el as in pre-depression years,
with 1926 prices as the “index” j
or average of that period.
Expressed in still another
way it means that the purchas
ing power of the dollar had
reached a point where it was
{mpossible for business to
make a profit, maintain em
ployment, pay wages or meet
debts, and this condition is to
be overcome by slowly devalu
ating the dollar by controlling
the dollar value, as measured
in terms of gold. As the dol
lar value is decreased commod
ity prices will automatically
increase for the reason that
the devalued dollar will buy a
lesser quantity of goods.
The latest move in the Presi
dent’s price-lifting by dollar
control policy was to extend
his gold purchasing activities
to foreign countries, with the
object of fortifying his com
modity price - raising drive
against foreign influ e n c e s,
which, it is charged, are oper
[ Reported 18 Million Allotted
For International Highway
Reports that the Public Works
Administration had set aside
18 million dollars for con
struction work in connection
with the proposed extension of
the Pacific Highway from Van
couver, B. C. to Fairbanks
Alaska, emanated from Wash
ington last Tuesday but are
lacking official confirmation
up to the present time, al
though widely heralded in the
press.
A meeting of the internation
al highway commission is ex
pected to be held at Olympia,
Washington, on November 13
to discuss the project, and also
the question of Canadian fin
nancing for the portion of the
2,200 mile highway which
would extend through British
Columbia and Yukon Terri
tory, the report said.
-u
Work on Georgia River
Is Highly Satisfactory
Work done during the past
several months by Helena Gold !
Mines on the Georgia River
Gold Mines, Ltd., property on
Georgia River has produced
highly satisfactory results, ac
cording to reports from Van
couver. Details of develop
ments are not obtainable but
'there appears no doubt that
the Helena company will un
dertake more extensive oper
ations in the near future.
Readers will recall that the
property was taken over by
Helena Gold Mines last spring
under an agreement with the
Georgia River company where
by the shareholders of the lat
ter company are to receive 800.
000 shares of Helena company
for their holdings. The Geor
gia River company is to be dis
solved at the conclusion of this
process cf liquidation.
-o-I
Dr. J. W. Vosburgh, Stewart
medico, who has been enjoying
a vacation in the south, ac
companied by Mrs. Vosburgh,
leturned home Monday even
ing.
ating deliberately to prevent
the success of the gold plan.
Two nations are suspected of
cooperating to thwart the plan
by purchasing U. S. dollars in
the exchange market each time
che President has raised the
price of gold. France is said
to be particularly apprehensive
that the success of the Roose
velt measures will endanger
her gold reserve, while others
seek to keep' the dollar as high
as possible as a measure of
trade protection for them
selves. 4
ROOSEVELT TO AID
SILVER SOON—REPORT
Aid for the sadly depleted
silver industry through admin
istration action is expected in
the near future, according to
reports emanating from Wash
ington.
President Roosevelt was said
to be studying the silver quest
ion closely and is expected to
call a conference soon, with a
view to devising a definite plan
for aiding the white metal,
which has been placed at fur
ther disadvantage in exchange
parities by the President’s gold
market program
The effect of the increased
gold prices will affect trade be
tween the United States and
the oriental and South Ameri
can countries, it was said.
Silver advocates in Washing
ton expressed the hope that a
price of 90 cents per ounce will
be fixed in such program as
may be developed by the Pres
ident.
-o
Duck Season Closed
me open season ior
ducks and geese closed Tues
day and further taking of the
toothsome game birds is for
bidden by law until September,
1934, except in cases where
a hunter or prospector in the
hills may be in urgent need of
food.
The open season for shooting
Wilson and jacksnipe is still in
effect and will continue until
December 15.
The deer hunting season, ex
tending from August 20, will
close on the fifteenth of the
present month.
-o
Miss Blanton Becomes Bride
Miss Evalyn Blanton, daugh
ter of Mr. and Mrs. Walter C.
Blanton and former local girl,
became the bride of Mr. James
Raymond Roady in Ketchikan
on October 26, according to the
Ketchikan Chronicle.
The wedding was solemnized
in the Methodist Episcopal
Church, with Rev. F. R. Isaac
son officiating. Miss Margaret
Reed was the bride’s only at
tendant and Mr. Joe. Bailey
acted as best man. Following
the wedding a reception was
held at the future home of the
bride and groom.
-o
Operations of the govern
ment road camp will be contin
ued until November 15, accord
ing to the latest information.
W. J. McDonald, general sup-1
ervisor of the E. C. W. work
camp' activities in Alaska is, i
expected to arrive from Ketch
ikan at any time.
Troy Says Gold Price
Increase Boosts Mining
Enroute to Washington, D.
C., Wednesday, Governor John
W. Troy of Alaska told press
representatives that the in
creased price of gold is giving
increased impetus to mining in
the Territory, according to rad
io broadcasts.
The new gold market is not
alone providing increased rev
enues for operating mines, but
is also stimulating prospecting
and the development of low
grade gold deposits heretofore
unavailable owing to the val
ues, measured by the former
geld price, being too low foi
profitable operation. Thou
sands of acres of low grade
placer ground may now be
brought into production, as
well as many low grade xjuartz
properties, the governor said in
prophesying a large increase in
mining activity in 'the Terri
tory.
Governor Troy said hundreds
of inquiries regarding oppor
tunities for gold mining and
prospecting are being received
from all parts of the country.
-o
Road Survey Nearing Close
The Bureau of Public Roads
survey of the Salmon river and
Texas creek highways will be
concluded for the present year
within the next few days, ac
cording to A. H. Cohn, engin
eer in charge of the survey par
ty, which has been engaged on
the project since the middle of
August.
The survey of the upper
reaches of the Salmon highway
has been completed but some
work remains to be done in and
near town which will left over
until next summer, Mr. Cohn
said. No work was undertak
en in the Texas creek area.
The surveys will be used to
compile a map of the local
highways which will present a
complete picture of the road
system under B. P. R. jurisdict
ion. It is to be used by the
Juneau headquarters for refer
ence in connection with future
road construction and mainte
nance activities.
-o
Third Division Marshal Named
C. J. Todd, of Valdez, has
been appointed by President
Roosevelt as United States
Marshal for the Third Judicial
Division of Alaska, it was an
nounced in recent Washington
reports.
Todd is a pioneer resident of
the Valdez section and is en
gaged in mining. He was
formerly postmaster at Valdez.
ELECTIONS IN B. C.
LIBERAL LANDSLIDE
A Liberal landslide marked
the provincial election held
Thursday in British Columbia.
Liberal party candidates every
where rolled up overwhelming
majorities and only 3 repre
sentatives of the much-dis
cussed C. C. F., 2 Indepen
dents, 1 Unionist and 1 Labor
candidate were able to nose in
at the finish.
Locally the Liberal candidate
for the legislature, William J.
Asseltine, of Premier, received
nearly half of the entire vote of
Stewart and Premier and also
led the field by a substantial
majority in all but one of the
outlying communities. Ker
gin, present M. L. A., carried
ihe town of Anyox, beating Mr.
Asseltine by 17 votes.
Mr. Asseltine’s total vote, as
reported up to the time of writ
ing, was 381, as against 269 for
his closest opponent, F. J.
Shenton.
Returns from Stewart and
Premier gave Asseltine 201;
Shenton 138; Rolston 70; Ker
gin 21 and Falconer 6.
The absentee vote is still to
be heard from but is not suf
ficiently large to affect the re
sults as indicated above.
Report from Vancouver indi
cate that the Liberals captured
all but two of the present Con
servative seats.
A
Junior Legion Holds Contest
The interest of Stewart and
Premier residents in the British
Columbia provincial election
this week was given increased
zest by a sweepstake guessing
contest sponsored by the Stew
art branch of the Junior Can
adian Legion. Contestants were
required to name the successful
candidate in the voting of the
two towns and also the approx
imate number of votes he
would receive out of the poss
ible total of 441, of which 263
are in Stewart.
Tickets were sold at 25 cents
each, the Junior Legion receiv
ing 50 per cent. The contest
resulted in a tie between Mrs.
E. L. Dale, of Hyder, and Gus
Duralis, of Premier, both of
whom guessed Asseltine as the
winner and also the exact num
ber of votes received-201. In
the draw-off, Mr. Duralis car
ried off the honors.
-o
Western Canada Min i n g
News reports that a meeting
was held October 20 to wind
up the affairs of Georgia Riv
er Gold Mines, Ltd., and to
transfer the shares into Helena
Gold Mines on the basis of one
Helena for 3% Georgia River.