THE NENANA DAILY NEWS
Application made April 1, 1918, at the postoffice at Nenana, Alaska,
for enzry as second class mail matter, under the Act of March 3, 1879.
‘ WHERE RAIL AND RIVER MEET”
Published every afternoon except Sunday, by the Nenana Printing
Company, at First and B Streets, Nenana, Alaska.
R. G. South-worth.....Editor and Manager
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eation of all news dispatches credited to it or not otherwise credited in
this paper and also all the local news published herein.
THE PLAGUE OF PAPER MONEY
The excess of paper money may
not at first sight seem a handicap
comparable to dissipated capital
wealth and vital losses. And yet
it is so ranked by economists. In
deed, says the editor of The World's
Work, one well-known English finan
cial expert, Lord d'Abernon, has
stated that four-fifths of the world’s
present labor troubles and social
unrest are directly due to the ter-;
rific depreciation in the value of
money caused by the enormous in- j
flation of currency during the war. j
In a speech in the house of lords
last spring. Lord d’Abernon declared ;
that, although there had been a |
steady depreciation in the value of 1
money for the last 700 years, the j
fall during the four years of war j
was equal to that during the 400 t
years from 1300 to 1700, and was j
much greater than its fall from 1700 !
t
to 1900. Any one who recalls the!
I
prodigious economic and social 1
changes wrought in Europe by the J
sudden fall in money values after 1
the discovery of America (a mere ■
trifle compared to the present turn- j
ble) can appreciate the momentous
possibilities opened up by Lord <
d'Abernon's thesis. So fundamental,:
indeed, is this currency evil, that,
it merits more extended considera
tion. The increase of paper money ;
having the power of legal tender
during the war period was no less
than six-fold. In 1914 the amount
of paper currency in the leading ■
countries of the world was about
five billion dollars. Today it is
more than thirty billion.
The results of this unparalleled
situation are seen in the giddy race
between wages and prices, the grow
ing hardships of the salaried classes
and persons of fixed income, and
the continuous fluctuations of val
ues. Lord d'Abernon considers that
the only way to avoid prolonged
and dangerous economic and social
instability is to establish a “sliding:
scale” of pavments based on official
tables of prices of a large range
of standard commodities as an in
dex to the true value of money. To
this index payments of contracts,
wages, and salaries wouid be refer
red as they fell due; said payments,
to be based, not on face value, but
on the amount to which the table
showed it was then equivalent. This
table would offer an approximately
true index to the value of money. ]
To be sure, some prices on the list
might rise and others fall; but, pro-'
vided the selection were sufficiently
extensive and varied, the exact val- j
ue of the currency at any moment
could be scientifically and accurately
determined. The urgency of some
such measure is enhanced by the
fact that any thought of returning
to the gold standard is impossible.!
In Lord d’Abernon’s words: “If;
there were to be any attempt today
to bring about a rapid return to the
gold currency basis of 1914 it would
almost double the weight of the;
world's indebtedness, and would cer- ■
tainly lead to the bankruptcy of
many nations. The present inflation
of currency, whatever its dangers—
and I do not underestimate them—
has this beneficial effect, that it re
duces the enormous public debts in
jcurred during the war, and by that
much makes them more easy to bear
and more likely to be paid.”
WHAT ARE WE DOING IN
SIBERIA?
This question, even to persons
high in the councils of the nation,
has for some time been shrouded
in a haze of comparative mystery,
says a writer in Leslie’s. In re
sponse to a query- from Congress
the President recently elucidated.
From his summarization of the mat
ter it appears that the ten thousand
troops sent to Siberia, in Septem
ber, 1918, under Major-General
William Graves, had a twofold mis
sion: first to assist the Czecho
slovak forces embattled with alleged
Russian “Reds” who were in reality
released German prisoners of war;
and second, to safeguard the opera
tion of the Trans-Siberian railroad
under an interallied commission
headed by the American railway ex-,
pert, Mr. John F. Stevens. The1
expedition was sent, the President 1
explained, in accordance with a Jap
anese plan conceived for the con-1
summation of the ends mentioned,
i e., rescue of the Czechs and op- ■
eration of the Siberian railway's. :
The A. E. F. in Siberia was under
instruction not to interfere in Rus
sian domestic conflicts.
The first objective of the Siberian
expedition has been reached. Thanks
to American and Japanese interven
tion, the divided Czech forces were
able to effect a union and avoid a
disastrous defeat. But the second
object, the operation of the Siberian
railway, requires the continued pres
ence of American guards at danger
points. The President explains that,
thanks to their presence, thus far,
Director Stevens has been able, in
some instances, to run six trains a
day where before there were not
that many a week. The opening of
the railway-s has saved the popula
tion of Siberia, who for three and
a half years contributed their lives
and goods to the prosecution of the
war with Germany, from desolation .
and death by starvation. If the
American troops were withdrawn,
Director Stevens could no longer
guarantee the operation of the roads,
continually- menaced by bands of
partisan marauders, and would him- j
self insist, under existing agree- :
ments with Japan and the United
States, on resigning his functions,:
upon which millions depend for ob- I
taining the bare necessities of life.
PAID-IN-FULL BONDS
READY FOR DELIVERY
--
Special Disbursing Officer Frank
Doner has announced the receipt of
Victory bonds which were paid in
full by the purchasers on July 15.
These bonds are ready for delivery,
and will be turned over to the own- ]
ers if they will present themselves
at the disbursing office.
It is said there will be a con-!
vention of the Alaska Labor Unions
in Juneau about the first of Oc-.
tober. Twenty-four unions will send
representatives.
The Hillery-Scott Salmon Canning
rompany of Cordova is
in that concern.
selling stock
WASHINGTON, D. C.—Abolition
(of the submarine as an instrument
of modern warfare does not seem
probable to American naval officers
| who have given careful study to
jthe arguments put forth before Al
! lied naval commissions investigating
the subject. It is the belief of
! these officers that submarines will
become more and more numerous
, in the principal navies of the world
i during the next few years.
In reviewing the deliberations of
(the Allied Commission on Naval
; Terms, American officials find that.
! while many pertinent arguments
were developed against the use of
submarines, many strong points also
were advanced in their favor. The
principal argument for their aboli
tion was that as long as the sub
marines were recognized as legiti
|
mate instruments of warfare there'
would remain the danger of some .
nation repeating the ruthless and
! inhuman campaign inaugurated by
Germany. Advocates of the subma- j
|rine, however, do not believe such
^ past inhumanities should be the de
termining factor in deciding wheth
er the submarine should be abol
ished.
The naval faction both in this
country and abroad opposed to the
abolition of the submarine believe
that the factor of possible merci
lessness of the undersea craft should
not be separated from the equal and
possibly worse horrors of gas war-:
fare, bombing from the air, and
mines. The parallel between the j
submarine and the marine mine i
seems closest, particularly since the
mine is now and has for many!
years been recognized by all nations !
as a legitimate instrument of war.
Figures gathered by the British dur
ing the war show that the losses to
British merchant shipping through
mines amounted to 6,377,000 tons, I
compared with 5,839,000 tons sunk |
by submarines.
Tne argument has been advanced
that, despite the fact that the best !
inventive genius of several nations
worked on the problem of devising
means to wipe the submarine out of
existence, the sub-surface craft re
mains the only long-radius vessel i
that, alone and unsupported, can go I
nearly anywhere and, entirely dis- i
counting its main purpose of tor- j
pedoing enemy warships, its unique I
defensive qualities makes it a naval
weapon of the utmost usefulness ;
even when restricted in its use 1
against merchant shipping.
At the worst, naval strategists •
point out, it is never a liability
that must be protected and defend- j
ed. It is admitted among naval 1
men that the big ship still rules '
the seas. How long this will be
true is the question now taxing the
best naval brains of the world. It |
is conceded, for the present at
least, that the nation that holds
blindly to one line of naval devel
opment and neglects another, par
ticularly the submarine, will be in
great ultimate danger.
While the nations having the
strongest navies have throughout
the peace deliberations shown a dis-;
position to agree to the abolition of
the submarine, the smaller and
weaker nations maintain that, hav
ing less powerful navies, they are
forced to cling to the more power
ful instruments of protection and
offense, and that therefore they
must retain the submarine as a mat
ter of self-preservation.
The Fidalgo Island Packing com
pany of Ketchikan will soon start
the erection of additions to its can
nery plant there.
Dan Lindeborg has placed on sale
an addition at Hyder and has been
selling many lots at the new boom
town on Portland canal.
WANT ADS
FOR SALE—Lady’s pony fur coat
and muff. Apply Mrs. R. S. Mc
Donald.
FOR SALE—Furnished house, four
rooms, with summer kitchen, at
tic, large basement and winter
cellar for vegetables. Heated by
furnace. Winter supply of veg
etables. Full corner lot. One of
the most desirable parts of town.
Inquire at News office.
BUNCH OF KEYS found. Owner
can recover by calling at News
office and paying for this adver
tisement.
FOR SALE — Showcase. 5ts feer
long. Practically new. Cheap.
Inquire Mrs. Herman Rosburg.
DR. R. R. MYERS
DENTIST
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RESIDENCE PHONE
WARNING.
Any boys found in ray boa: or
tampering with it in any way will
be prosecuted to the full extent of
the law. ALBERT FORTIER.
ttenana, Alaska's Interior Fnel Depot
r.s. McDonald
Public Stenography Typewriting
Bookkeeping Conveyancing
REAL ESTATE RENTALS
LOANS
LIFE INSURANCE
(New York Life)
FIRE INSURANCE
Only the most reliable companies
SAFETY DEPOSIT BOXES
FOR RENT
NENANA LODGE No. 1193
L. 0. 0. M.
MEETS AT MOOSE HALL
FOURTH AND B STREETS
On Second and Fourth Tuesdays
At 8 P. M.
ALEX FOWLER M. V. TYLER.
Secretary Dictator.1
Department of the Interior
Aliilun Engineering Commission
NOTICE ♦
Passengers leaving on the train
for any point on the line south of
town are required to purchase
tickets before entering the train.
Tickets can be purchased from
the station agent, whose office is I'
in the employment office, on the
ground floor of the general office
building, Alaskan Engineering com
mission.
Tickets will be on sale at any
time during office hours, and can
be purchased in sufficient time be
fore the departure of the trains.
Regular trains leave the foot of w
A street on Wednesdays and Satur
days at 8 a. m.
On and after July 15th the freight
on the North side of the river at
Camp 415 dock will be shipped out
Tuesday and Friday of each week,
leaving at 8 a. m., until further
notice. 4
Dr. J. R. 80WEN
DENTIST
Prices Most Reasonable
THE BOWEN BUILDING
L. C. ISABEL
BARBER
SOUTHERN HOTEL
BUILDING
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GEO. R. GOSHAW. Inc.
ALASKAN DEALER. IN
RAW FURS
SEATTLE
Alaska Building
NEW YORK
127 W. 27tla Struct
We do business direct with you and solicit your RAW FURS.
Your shipments are handled by expert graders and New York
Market Prices are paid on correct grading the day received If
desired, your shipments will be kept separate in order that our
prices may be approved by you. Providing that our valuation
does not prove satisfactory, the Furs will be returned to you,
transportation charges prepaid. Ship by Insured Parcel Post or
Express. Ship in dry condition. Always enclose an itemized
list of contents with name and address. Also place duplicate
list on the outside of package or bale. All payments are made
by check on the Seattle National Bank, or in any other manner
desired. Special instructions, if any, must accompany shipment.
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