1
EUROPEAN AUTHORITY SEES
ECONOMIC CRISIS UNLESS
AVERT CATASTROPHE
LONDON. Sept,, 23. (/P)-Profes
sor Gustav Cassel, who has long
predicted a coming scarcity of gold,
returns to the subject in an article
and repeats that a serious world
economic crisis must develop unless
measures are taken at once to
avert it. He points out that prac
tically all countries have adopted
the gold standard and says that
the most important question in
this connection is the stabilization
of the gold value itself.
He says that this can be reached
only thru the systematic regulation
of gold demand. In view of the re
quirements of the world’s com
merce. the gold basis in payment
transactions must be strickly limit
ed if the threatened economic cri
sis is to be avoided. For avoiding
such a crisis two means exist: The
withdrawal of gold coinage out of
> circulation, and the reduction of
the gold reserves at the central
banks used for the covering of their
circulating notes.
England and India, by the with
drawal of their gold coinage, have
prevented a crisis in their currency
systems. In this sense also the
policy of the American banks has
been of great importance. In con
trast to Europe, the United States
disposed of a surplus of gold re
serves. but notwithstanding this
fact, that country has avoided a
circulation of gold coinage, and.
according to Professor Cassel, this
has been the reason for the stabili
ty of the American price levels in
the last year or two.
Professor Cassel advocates inter
national cooperation of the Central
Note banks in order to limit the de
mand for gold and to reduce the
necessary gold reserve to the mini
mum. He maintains that by these
measures stabilizing of the gold
market of the world could be
WE CARRY THE I BRANDS
)E CANDY MANUFACTURED IN
THE UNITED STATES BOTH IN
BUI.K AND BOX. The Candy Cot
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FOR RENT—Cabin; see J. L.
Graef Hardware.
Spectacles ready-to-wear first class
reading glasses, $4 each pair;
Bifocal for reading and distance
both S4.45 and §10. each pair;
Binoculars very powerful $25.
Overland hotel, Seward, until
Sept. 23; hours 2 p. m. to 8
p. m. Day Optical Co.
APARTMENT for rent; Mrs. Paul- j
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FOR SALE—At Juneau, Alaska, j
first class cafe; four-year lease; j
good location. Owner must re- I
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WANTED—Extra copies of Sewrard
Daily Gateway for following
dates; Aug. 23 and 24, 1928; Nov.
29, 1928; Jan. 10, 1929; May 18 to
24 inclusive, 1929; July 1 to 4, 11
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FOU RENT—Two furnished cabins.
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FOR SALE—Half interest in a
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WANTED—Work ’jv hour or day,
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lor Sam, Japanese boy.
reached. The contrary is to be seen |
at present in the international ,
competition in forming gold re- j
serves which is producing confu- j
sion in the world's gold market.
J As a consequence of the compe- '
tition, price levels tend to sink and
general economic depression must j
follow if this practice is continued, j
According to Professor Cassel’s;
view, the greatest danger lies in the .
protective tariff policy which ren- ;
iders the free exchange of commodi- j
jties. For example, the United j
'States is the principal creditor of j
| the world and will not accept wares j
or services in payment, v but only ;
i gold. This, the professor thinks, j
must soon lead to a catastrophic
gold scarcity in Europe. He main- j
'tains, therefore, that international j
‘gold covering measured in value of
jthe total world production, is al
ready too little, or must soon be
come so.
--
This is a wonderful age. They are
using ratskins and catskins for
‘shoes and banana skins for slip
pers.
WANTED—To Buj, dealt cor.tou rags, i
■ RELIABLE BOAT SER. !
VICE TO NUKA BAY
i The gasboat Rolfe No. 1 s
Capt. Pete Sather. leaves \
J the port of Seward for the J
» bay on the 15th and 30th
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OGLE'S GARAGE !
Phone Madison 66
« A. F. Davis
: •
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Or Adams 114
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ilf3
f ■
1 m
When The
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YOU will appreciate the worth of a good
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Now is the time to avail yourself to the in
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THE UNIVERSAL CAR
SEWARD MACHINE SHOP
CHAS. LECHNER
The Kantishna has been in
cluded in the mineralized areas
examined under authority of an
act pa^ed by the last Territorial j
legislature and an examination
of that area is being made under
the supervision of B. D. Stewart,
federal mining supervisor. Earl
R. Pilgrim, mining engineer, has
just returned to Fairbanks after j
making a survey of that dis- :
trict, reports the Fairbanks News j
Miner, and, judging from the j
tone of the interview, the survey
appears to have been quite favor
able.
Fresh Haas’ candy. SCHALLER
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SCHALLERER’S
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DEVELOPING
Printing
Enlarging
Photographs copied
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Picture Framing
Mr. Pilgrim was in the field |
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cinnabar and antimony.
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Monday and Friday
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Wednesday and Saturday
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NEXT SAILING STR. STARR OUT OF SEWARI)
OCTOBER 5
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PHONE MADISON 139
8EWARD, ALASKA
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Steamer Leave Seattle N’b’d-Leave Seward
Go East via
California and
the Panama Ca
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