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VOLUME 9, NUMBER 29.
HYDER, ALASKA, SATURDAY, APRIL 29,
1933.
SINGLE COPIES 10 CENTS
REMONETIZATION OF
SILVER NOW ASSURED
Passage by the Senate of the
Administration Farm Relief
til! by a vote of 83 to 21 was
announced in radio broadcasts
Friday evening. The measure
now goes to the House.
The completed bill, in addit
ion tc the provisions for in
creasing prices for farm prod
ucts and refinancing farm
mortgage loans, gjves the
President authority to inflate
the national currency, reduce
to as low a3 50 per cent the
quantity of geld in the dollar,
authorizes currency backed by
silver, and acceptance of silver
bullion io the amount of twe
hundred million dollars in pay
ment of war debts.
Definite assurances that im
provement in the status of sil
ver is one of the important
features of President Roose
velt’s plans for economic recov-1
ery were given this week in |
radio news broadcasts outlin |
ing an Administration amend I
ment to the Farm Loan Bil'
providing for controlled inflat
ion of the national currency.
The measure was said to
authorize the President to re
duce the gold content of the
dollar by as much as 50 per
cent if he sees fit and to ac
cept up to $100,000,000 in sil
ver at 50 cents per ounce in
payment of war debts, in ad- j
dition to giving him authority
to order the free coinage of sil
ver at a ratio to be fixed by
himself.
The propo:als are intended to
expand credit; to start ttu
wheels of industry turning
and to increase commodity
ipriees and security values.
The reduction of the gold con
tent of the dollar would also
enable the President to make
arrangements with other nat
ions under which all would re
duce the gold backing of theii
monetary units.
The silver proposals would j
give the President authority to j
lemonetize silver at whatever
ratio may be deemed desirable,
even to the extent of a 16 to 1
parity with gold.
The President on several
occasions has signified his in
tention to do something for sil
ver and it wa; reported that an j
improvement in the status ot |
the white metal was agreed up :
on by Mr. Roosevelt and Pre |
mier McDonald of Great Brit
ain at the White House confer ,
ences in Washington this week.
With the powerful backing ot
the United States and Great j
Britain, the stabilization of sil- j
ver at a definite ratio with •
gold is considered assured, al- i
though the ratio basis will j
Continued on Page 4
[ HYDER MAIL BOAT BURNS
_
The Hyder-Ketchikan mail
boat, City of Anacortes, was
j burned and sunk near the
mouth of Portland Canal while
on her return trip to Ketchikan
Wednesday morning, accord
ing to radio reports.
The accident involved no
loss of life and the outgoing
mail from this port was saved.
Following the outbreak of the
flames, believed to have been
caused by engine back-fire, the
vessel was beached, permitting
the crew to escape and save
I the mail. The vessel sank lat
er. The crew and mail were
picked up by a Coast Guard
vessel and taken to Ketchikan,
arriving there Friday.
n
Arsesment Bill Reported
But No Action Taken
Reports from Washington, D.
C., dated April 17, state that
neither the Senate nor the
House had voted upon the an
nual assessment wbrk suspen
ion bills. Senator Borah’s bill
had been reported from com
mittee but a similar bill in the
House had not been acted up
on in any manner. The Borah
bill reads: ”Be it enacted by
:he Senate and House of Repre
entatives of the United States
of America in Congress assem
bled, That the provision of
’ection 2324 of the Revised
Statutes of the United States,
which requires on each mining
claim located, and until patent
has been issued therefor, not
less than $100 worth of labor
to be performed or improve
n e n t s aggregating such
rmount to be made each year,
be, and the same is hereby, sus
pended as to all mining claim?
n the United States, including
Alaska, during the year begin
ning at 12 o’clock meridian
July 1, 1932, and ending at 12
o’clock meridian July 1, 1933.”
An amendment was added by
.he Mines and Mining committ
ee as follows: “Provided,
That the provisions of this Act
shall not apply in the case ot
any claimant not entitled to ex
emption from the payment of a
Federal income tax for the tax
able year 1932: Provided fur
ther, That every claimant of
any such mining claim, in order
o obtain the benefits of this
Act, shall file, or cause to be
filed, in the office where the
location notice or certificate is
recorded, on for before 12 o’
clock meridian, July 1, 1933, a
notice of his desire to hold
such mining claim under this
Act, which notice shall state j
that the claimant, or claimants, i
were entitled to exemption
from the payment of a federal
income tax for the taxable year
1932.
]
DEVELOPMENTS IN THE
ALASKA LEGISLATURE
New bills introduced include:
Senate judiciary bill provid
in for “grubstake” agreements,
which must have two witnesses
to be legally binding.
Senate bill by Walker requir
ing security deposits by air
plane companies carring pass
engers, in sufficient amount to
cover damages that might be
sued for in case of accidents.
Fixes minimum amount of se
curity for one passenger at
$20,00 and $100,000 for two or
more carried at same time.
Senate memorial by Lomen
asks Congress to enlist a “pros
pectors’ army,” with definite
periods of enlistment at small
wages and an interest in miner
al discoveries made; to be of
ficered by .staff of geologists
engineers and experienced
prospectors.
Senate resolution disapprov
ing employment by Territory 01
in schools of women whose
husbands are able to provide
support and declaring such em
ployment prevents distressed
persons from obtaining em
ployment.
House bill by Green seeks to
double tax rate On net incomes
from mines. Would raise from
1 to 2 per cent the rate on in
comes between $10,000 and
$500,000; from 1 V-> to 3 pei
cent on incomes of $500,000
to $1,000,000; from 1 % to 5
per cent on incomes over $1.
000,000.
House memorial by McDon
ald asks amendment of Alaska
Drganic Act to give Legislature
full authority to legislate on
:he subject of game and fur
oearing animals.
Senate bill by Hess provides
for a general sales tax.
House bill by Hoffman and
Bellerich would create a Terr
torial Department of Mines
onder direction of a commiss
on of five, with a paid engin
eer and executive secretary.
House bill by Taylor to pro
/ide sanitation Code for barber
’hops.
House bill by Baronovich is
iesigned to stabilize salmon
canning industry, create a Ter
ritorial Fish Board, and pro
vide a fund for advertising can
rery products by imposing a
mall tax on the canned sal
non pack.
House bill by Kehoe prcpos
?s a two-year moratorium for
mortgages.
House bill by Green and Lin
?o to create a Territorial in
iustrial insurance commission
rnd repealing present Work
nen’s Compensation Act. Pro-1
ddes for levy of 1 per cent on
vages of employees. Balance
lecessary to operate to be pro-1
dded by industry.
JOHN W. TROY NOW
ALASKA GOVERNOR
John W. Troy, pioneer Alas
ka newspaperman and editor
of the Juneau Empire, became
twelfth governor of Alaska at
a joint session of the Alaska
Legislature in Juneau on April
19.
Governor Troy succeeded
George A. Parks, who served
two terms as the Territory’s
chief executive.
-o
Lower House Opposes 1934
Assessment Work Suspension
The lower house of the Alas
ka Legislature has gone on re
cord as opposed to the suspen
■ion of annual assessment wort,
on mining claims beyond June
30 of the present year.
Replying to a telegraphic
query by Delegate Dimond re
garding their attitude, the
House said :
Owing to lateness of the seas
on and the fact that many
claim owners are under the im
pression that suspension of ass
essment work is already auth
orized to June 30 this year, we
favor such extension to that
date but oppose any such ex
tension in the future since it
deprives many Alaskans of an
opportunity for employment.
We approve limiting suspen
sion to those not paying feder
al income tax.
House bill by Green, by re
quest, requiring conveyances of
homes or homesteads to be
executed by both husband and
wife.
Senate bill by Bragaw impos
ing tax of §2.50 per year cn
radio receiving sets in operat
ion.
Senate bill by Hess amend
ing Workmen’s Compesation
Act, requiring additional com
pensation for unmarried men
without dependents killed in
industrial accidents and other
alterations.
House bill by Lingo requires
old age 'pensioners to make bi- 1
ennial reports if need of allow
ance still exists.
House bill by Lingo asks
$500 t'D advertise International
Highway.
Senate bill by Shattuck cre
ates Pioneers’ Home Building
Commission and provides for
immediate construction of mod
ern home for aged pioneers at i
Sitka with funds now avail- i
able, about $220,000. ,
House bill by Green revises ;
existing statutes relative to or
ganization 'of cooperative cor
porations. ]
Senate memorial by DeVane i
asks repeal of Alaska Game i
Commission and seeks transfer t
to Legislature to legislate upon i
game and fur resources. i
PREMIER REPORT SHOWS
VERY SMALL RESERVE
From the commencement of
regular production until Dec
ember, 1932, a period of 13
years and 1 month, the Premier
mine milled and shipped a to
tal of 2,333,303 tons of ore, ac
cording to the annual report of
t h e Premier Gold Mining
Company for 1932.
During the same period the
total production of metals
amounted to 1,280,206 ounces
of gold and 32,728,182 ounces
of silver. Total profits after
deduction of investment write
offs and taxes, but before de
preciation and depletion charg
es, amounted to $20,514,120.
34.
Distributions to shareholders
during the production period,
including the distribution for
December 1932, have aggre
gated $16,629,503.46.
The report states that during
1932, 221,718 dry tons of ore
with an average assay content
of 0.36 ounces of gold and 8.3
ounces of silver were mined.
At the end of 1932 the com
bined broken and unbroken
ore reserves were 98,156 tons
less than at the end of 1931.
Ore reserves at the end of
1932 are shown by the report
figures to be 155,467 tons.
[Ore reserves at the end of 19
31 were 253,623 tons. Ore
mined in 1931 totaled 242,317
:ons. Editor]
This means, the report con
;inues, that 123,562 tons of
lew ore W’ere found and
ipened during 1932. This new
ire compares with 126,735
:ons of new ore found in 1931.
The report reiterates that
he life of the property is near
ng its end and refers to new’
iroperties acquired during the
/ear, some of which, it says,
iromise to prove highly profit
able.
Moose Lodge To Entertain
The Moose lodge will hold an
mtertainment for members at
Moose Hall in Stewart on the
;vening of April 29, starting at
5:30 p. m. The program will
nclude cards, music and sup
jer.
-o
Special Session May
Continue Into June
Indications are that the spec
al session cf Congress will not
;nd until after the middle of
rune, according to Washington
idvices to the Herald this
veek.
Much emergency legislation
•emains to be enacted. Admin
stration measures only are be
ng considered, which means
hat other legislation must
vait over until the December
ession.