The Daily Alaska empire Newspaper, July 25, 1933, Page 4

] ‘~ i , . 3 e, S AN SO Y RS OE Daily Alaska Empire ROBERT W. BENDER - - GENERAL MANAGER Published every evening except Sunday by the EMPIRE PRI G COMPANY at Second and Main Streets, Juneau, Entered in the Post Office In Juneau as Second Class matter. SUBSCRIPTION RATES. Dellvered by carrler in Juneau and Douglay for $1.25| per month, at the following rates: One year, In advance, j; six months, In advance, month, in advance, $1.25. bers will confer a favor if they will promptly Business Office of any failure or irregularity ivery of th 3 Telephone for Edi By mall, postage paid Business Offices, 374. MEMBER OF ASSOCIATED PRESS, The Associated Press is exclusively entitled to the| use for republication of all news dispatches credited (o it or not dited in this paper and also the local ne pin. s published h ALASKA CIRCULATION GUARANTEED TO BE LARGER | THAN THAT OF ANY OTHER PUBLICATION. | B i THE SS FRONT. BROADEN The determination of the Administration to speed the lifting of business by more rapid increase of buying power through voluntary wage scale advances and limitation of hours of labor comes at a time when the status of the nation’s business and industry | is more encouraging than at any time in more than three years. With more sections of the country falling into line, particularly on the Pacific Coast, the recovery of business in the country has assumed | sweeping proportions. The nation has entered the second half of the year with a comfortable lead over last year and with confidence in the future. i The gains have been suvsianilal enough to put an end to the inference that the recovery has been‘ due to the depreciation of the dollar on the world| markets. It is now firmly believed in a number of quarters that direct inflation may never be needed to bolster the prices already rising, thanks to the | actual improvement in business conditions and, in the important case of grains, to natural causes. | Improvement in the lumber business in the| Pacific Northwest, following nearly six years of acute depression in that industry, and in the coast agricul- ture is also benefitting from improved conditions. The advance in prices in the wheat belt has ameliorated substantially the financial situation in the farming community. continue. All the important indices continue to advance, and may be expected to reflect further improve- ment due to growing gains from the lifts in pur- chasing power resulting from re-employment, wage increases and general activity. Conservative ten- dencies in major industries indicate that the ad- vantages are not to be over-pressed during the Summer. A corresponding determination of re- tailers to continue prices as low as possible until higher costs of materials force an advancing gives - further indication of the soundness of the restorative influences. Naturally, with higher commodity prices, there must be a corresponding rise in living costs. To meet these, the plan of the Administration, as announced by Gen, Hugh S. Johnson, Director of National Recovery Administration, to bring employ- ers into voluntary agreements to advance wages and limit hours is timely and should benefit capital equally as much as it does labor. GAINS IN WEALTH. For those who measure the scope of the nation’s progress on the road to recovery by the appreciation of quoted values, the market records at the outset of the second half of the year lend themselves to fascinating calculations. Taking only the stocks and bonds lisited in the New York Stock Exchange and the three major agricultural commodities, some stag- gering figures can be shown. From March 1, shortly before the broad upward movement got under way, up to June 30, the aggregate increase in open- market values was roughly $17,500,000,000. The gain would be much more impressive if all unlisted stocks and bonds and those traded elsewhere than on the New York Stock Exchange and a large number of minor commodities were to enter into the calcula- tions. But the figures are sufficiently illuminating without these. They show, for instance, that in the three and one-half months since the bank holiday ended and the signal was given on the ex- changes for the upsurge, the 1,200 issues on the Stock Exchange rose from less than $20,000,000,000 to about $33,000,000000 as of June 30, a gain of $13,000,000,000. The 800 issues of bonds on that Exchange rose from $30,800,000,000 to $34,400,000,000, an increase of $3,600,000,000. In the case of wheat, taking into account all visible domestic supplies and using the Government's latest crop estimates of the Winter and Spring crops, the total valuation has gone up about $450,000,000. For corn, figured on the same basis, the increase in market values was something like $325,000,000. The advance of cotton from six cents a pound, or $30 a bale, to 10 cents, or $50 a bale, represented a gain of $237,000,000 not taking into consideration anything except the cotton on hand. Rising prices are, of course, good news for everyone. Countless persons profit at once from a boom in price levels, and even those who hold no equity in goods or stocks and bonds have a prospect of a job, a better job, or a raise in pay. A rising market is one that pleases everyone and offends|cglers of the country were busy with their distribu- | wypg AND SON OF VICE no one. It is certain that the rises in commodities have partly remedied grave injustices to the agricultural _ population. Advances in prices of manufactured goods and in securities have been made the basis for wage scale advances, and have had a curative effect upon injustices in industry. - Whether prices have risen out of proportion to . the recovery and shead of wage scale advances is " a matter of debate. The Administration has warned tolerate no price-hiking at this stage. it has to perform in restoring {what it was a few months before. In the East and South industrial gains |measures, levels to the 1926 standard will have been worked out. BATTLING FOR G. O. P. CONTROL. Down Indiana-way, political correspondents re- port, Republicans are battling among themselves for control of the Republican National Committee. Ever- ett Saunders, one-time Congressman, later Secretary to President Coolidge and now National Chairman by virtue of Mr. Hoover’s recommendation last year, wants to continue in that post. Former Senator James Watson, Republican leader in the Senate during the Hoover regime, also seeks the Chair- manship. Saunders speaks for the Hoover-Mills group, and Watson represents the G. O. P. element which feels |that a Republican “new deal” is essential for the party’s welfare. Saunders- represents those who be- lieve in sniping at President Roosevelt. Watson, one |of the country’s most adroit politicians, regards such a policy as suicidal at this time. The interest in the Hoosier conflict is almost wholly academic at the present. Under existing con- ditions, with business recovery advancing daily as workers are being added by the thousands to pay- rolls, wages advancing and hours of employment declining, whether Saunders stays in or Watson throws him out is not of much concern to the rank and file of Americans who are rejoicing at the improvement in conditions German horticulturists are reported to have de- veloped a perfectly black rose. Probably Hitler will appropriate that for the Nazi flower. Dry statisticians probably will have no difficulty in proving that the first 20 States to vote on repeal were always wet anyway. That, of course, made it altogether right and wise to jam Pro- hibition down their throats 13 years ago. States of Consciousness. (Boston News Bureau.) ‘Woodrow Wilson was derided twenty years ago for the emphasis he put upon psychology in cata- loguing and condemning certain things. His succes- sor as a Democratic President may be accounted much more successful by history on the same score. That is, at least so far as the first third of his first year has been concerned, and perhaps most so |because he practiced rather than preached psychology as such, in a bewildering series of deeds rather than any flow of words. Long ago psychology was defined as the “de- seription and explanation of states of conscious- ness as such.” Accepting that definition, there is present need only to contrast the state of the general popular consciousness in early July with The evidences are numerous and palpable beyond dispute. One need contrast only a former discontent and defeatism of spirit with a later almost com- plete acceptance and serenity. Time had' of course been working for the new dispensation. There was also the age-old concept of the new broom, here called with psychological aptness the “new deal.” Then the flood of promised action,—messages, enactments, all constituting radical changes, where change had rightly or wrongly be- come a great psychological temptation. Beer was| one good bit of psychology. Likewise the promise of repeal. “Inflation” was certainly another, in its intriguing possibilities. ~The disarming frankness and cheerful audacity of manner enhanced it all. One need also only to note and measure the mood of almost utterly compliant or even fatalistic acceptance of the climax of the industrial recovery act to recognize the great psychological shift. The jwave has run high and far! Four Decades. (New York World-Telegram.) Chicago opened the Columbian Exposition in the midst of a depression second in its devastation only to that which exists today. The World’s Fair of 1893 faced a situation almost as distressing as that of 1933. It was a gesture of ,defiance even more inspiring than this of “A Century of Progress,” started by a ray of light that left the Arcturus as the Columbian Exposition was opening its gates. America in 1893 dug into its resources and in spite of falling markets and financial cataclysms made a success of its $40,000,000- show. In the artistic splendor of the Grand Court and the gay abandon of the Midway Plaisance it forgot tis perils and its miseries and laughed away its fears. The parallel is worth recalling for more reasons than that disasters pass or that national courage can triumph over naticnal misfortune. Art and science have gone a long way forward from the splendid culmination of end-of-the-century achieve- ment. That is something for pride. But what of fundamental human progress? Why, in this field, should we appear to move only in circles? ! President Roosevelt, in his message to the Ex- | position, expressed the hope that we might turn more to spiritual and social development. The first third of that twentieth century to which the world came with confident expectations of a new era of peace and happiness for mankind has provided mainly colossal strife and suffering. Yet there is reason to believe that a ray from a source that has seemed much more remote than Arcturus already has started the machinery of a far greater progress than any we have yet known. Construction. (Daily Journal of Commerce, Seattle.) Pertinent to the claim of the construction fra- ternity that construction is of basic importance to the employment sitution, there has been compiled by the Construction League of the United States information which shows that every tenth person gainfully employed in 1929 depended for his live- lihood on construction. Further, more employment was furnished indirectly in dependent industries as was created by actual construction work. “That the railroads, mines, and other contribut- ing industries lean heavily on construction is clear from the facts that one out of every five carloads of freight moved in 1929 carried construction mater- jals in raw or finished form,” states Architect Robert D. Kohn, General Chairman of the league “Pive per cent of all coal mined was burned to make these materials, and 8 per cent of the whole- tion. This multiple division of the construction dollar proves it to be a tremendous factor in the complicated and interlocking economic life of today.” More than ever does this statement indicate the urgent necessity of a public works program. More than ever is it important that the Government authorities recognize the claim and act accordingly in affording work, with the least possible delay, to millions of our long idle workers. To keep strictly within the truth the new beer (Philadelphia Inquirer.) Managed Mon 0. 3.—Unfixing VALUE OF IN TERMS OF COMMODITIES ey—-What It Is the Price of Gold 1920 GOLD. but the chart above shows gold demand. The dollar of yesterday may | not be that of today or to- | morrow and yet represent the | same amount of gold. This is the third of four articles deal- ing with the plan to stabilize its purchasing power. By J. R. BRACKETT NEW YORK, July 25— After| concluding that gold at a fixed price was the long-sought stablc| money base, is the world now to| change tune and decide, paradoxi cally, that gold on a fluctuating pricz is actually more stable? One of the major proposals of the advocates of a manager mon- ey system is that unless gol price is made to change in rel tion to other prices, the inequalities | consequent to violent price changes | will continue, even grow worse. | Gold, A Commodity The first fact required for un-| derstanding this argument is that| gold is a commodity. Watches and rings are made from it, just as knives and forks are made from | silver, or bread from wheat. But| gold almost alone has a fixed price. | The legal definition of a gold dollar is 2322 grains of gold, which is at the rate of $20.67 an ounce. The price of wheat, for example, varies with supply and demand so that the “price” comes to repre- sent wheat's “value.” Supply and demand, however, have no effect on the “price” of gold, but they do affect its “val- ue"—what it is worth in lerms of wheat and ,other commodities. Would Stabilize Gold Value The purchasing power of gold and that of curency, when, of course, the money is on the gold standard, are the same. Advocates of a managed currency argue that gold causes all money to fluctu- ate too violently in ‘“value”—pur- chasing power—because of any one commodity tends to be unstable. This means that $1 might purchase a bushel of wheat in one year and two bushels in another. The idea of managed money is to make that dollar purchase ap- proximately the same amount of a group of commodities all the time. The price of gold, therefore, would be made to fluctuate with the prices of such a group—an average of prices of several hundred com- modities, in effect, a sort of “com- posite cemmodity.” Suppose an ounce of gold was worth $10 one weck when 10 units of the “‘composite commodity” were also worth $10; suppose in the next week the 10 units moved to $11; then the price of an ounce of gold automatically would become $11. ‘The “price” of gold would fluctuate with its purchasing power—its “val= ue” in buying the composite. If the price of gold were not so changed the 10 units of commodity would buy an ounce and one-tenth of gold or a $1.10 in mdney, |The original dollar would have lost pur= chasing power, while the “com- posite commodity” would be more valuable. The person who received the commodity would find the value of his money reduced. If the price of gold is changed and thus the price of the dollar, the person with the dollars will find that by law they have been changed in purchasing power to $1.10 to keep up with the “com=- posite commodity.” ‘The theory is that, on the aver- age, neither the commodity holder or the money holder would lose or zain by such price changes. Tomorrow—Mixing Silver with Gold. e PRESIDENT OF SOUTHERN PACIFIC MAKING TRIP Among the round trip passengers on the Aleutian, which was in port yesterday, are Mrs. Walter! Douglas, and Robert Douglas, wife and son of the vicé-president of the Southern Pacific Railway. They' vere pleased with the entire trip, ind enjoyed the beautiful weather, in Juneau. While the steamer| this, then one of the biggest{should be described as thiree point two minus—|wa sin port they visited places of interest in the city. Advocates of plans for “managing” money have as their goal a dollar with a purchasing power unvarying in terms of commodities. The usual relationship is expresscd in commodities in terms of gold, required to buy it, under the fluctuating impulses of supply and value measured by commodities The Empire wili show you the best way to save and invest what cash you have. Read the advertise- ments of the local merchants in The Empire. Resurrection Lutheran Church . i | REV. ERLING K. OLAFSON, | Pastor | Morning Worship 10:30 AM. | . T | More For Your | $60.00 For This New “G. E.” Economy Model Not for many weeks will you have an opportunity like this. A high class washer— G. E. quality from stem to sten. Yours on easy terms Try this washer in your own home. Alaska Electric Light & Power Co. Juneau 6 Douglas 18 REMEMBER 12th Annual Southeast- ern Alaska Fair September 13, 14, 15, 16 FORD 20 YEARS AGO From The Empire i T o JULY 25, 1913 The cross-examination of Joseph MacDonald, who had been a wit- ness in his own defense all of the previous day, had terminated and attorneys for the defense announc- ed that its case was closed. The Government at once began putting on testimony in rebuttal. The cross- examination of MacDonald took him over and over the incidents of the fight at Treadwell in which he had shot Jones, and the testimony that he had given at the cor- oner's inquest and that given be- fore the jury was compared and recompared. The examination of MacDonald when hé was giving his direct testimony was conducted by J. A. Hellenthal, chief counsel for him in the trial. e | “The Arctic Club” of Juneau fil- ed articles of incorporation with Secretary Distin. The corporation was a social organization and George Hain, Robert Nelson, R. J. McKanna and G. B. Wells were named as incorporators. Passengers for Skagway included Mr. and Mrs. J. R. Willis, Miss Minnie Sowerby and R. H. Coe. Mrs. Guy McNaughton, Mrs. W. S. Pullen and Mrs. Katherine Hooker were hostesses at a dancing party given in the Elks’ Hall. There were over a hundred people present and a Treadwell orchestra furnish- ed the music fcr the event. The funeral of General Booth, the great Salvation Army leader was presented at the Grand The- atre as an extra reel. It was a remarkable film and had been seen by millions. Custer's Last Fight was also produced at the theatre and attracted a large crowd. A well-pleased audience witness- ed the performance of “Frenzy of Fire Water,” a spectacular scene of the early days on the plains. “The Gay Deceivers” was a rat- tling . good comedy, and A. C. Fremming presided at the piano. Bl g e R NOTICE! The JYunezu Water Works have moved their offices to the First National Bank from where it will transact all business. " : | Smith Flectric Co. | | Gastineau Building | | EVERYTHING | | ELECTRICAL | FrEsH and CLEAN Are you moving, or just cleaning house? In either case you'll want your drapes cleaned. Alaska Laundjry | JUNEAU-YOUNG | | Funeral Parlors | | Licensed Funeral Directors and . Embalmers | Night Phone 1851 Day Phone 12 ——eeee——— e ———03 SABIN’S Everything in Furnishings for Men AGENCY (Authorized Dealers) GAS OILS GREASES Juneau - Motors FOOT OF MAIN ST. JUNEAU SAMPLE SHOP The Little Store with the BIG VALUES Juneau . The B. M. Behrends Bank " BANKERS SINCE 1891 Strong—Progressive—Conservative ' We cordially invite you to avail A | yourselves of our facilities for. handling your business, . | Always Good— Always Fresh “Ask Your Grocer” O———— e e Ciso BT 8 PROFESSIONAL l Fraternal Societies | . ORISR TE s T | OF Helene W. L. Albrecht | Gostintan Chwanel | PHYSIOTHERAPY Massage, Electricity, Infra Red , B. P. 0. ELKS meets | Ray, Medical Gymnastics, || every Wednesday at ‘ | 307 Goldstein Building | |8 p.m Visiting #) | Phone Office, 216 | | brothers welcome. " L. W. Turoff, Exalt- e lcdRuler. M H.Sides, | L || Secretary. ’ DRS. KASER & FREEBURGER | | T poierne oo corvmmes ~ | DENTISTS Seghers Counctl No. 1760. | Blomgren Building Meetings second and last PHONE 56 Monday at 7:30 p. m. Hours 9 am. to 9 pm. __g| Transtent brothers urg- 3= e led to attend. Council ¢ Chambers, Fifth Strees. A Dr. Chg;lr::%SJT. Jenne JOHN F. MULLEN, G. K. Rooms 8 and 9 Valentine L R oy Building T 5. O TR SR | Telephone 176 i | Our trucks go any place any | B mi|time A fank for Diesel Oil | . gl |and a tank for crude ol save | | burner trouble. 4 | Dr. J!;Eyfisgayne [1| eooe 1is, NrGmr 1 i | Rooms 5-6 Triangle Bidg. ||| RELIABLE TRANSFER | Office hours, 9 am. to 5 p.m. | |2 o | Evenings by appointment | —_— Phone 321 | % | — 5 al/| JUNEAU TRANSFER | Dr. A. W. Stewart | COMPANY DENTIST | i Hours 9 am. to 6 pm. | & ¥ B ! SEWARD BUILDING .MOCln 14 lln(l | Office Phone 469, Res. | (=) i ‘ Phone 2176 L 4 Storage | - .! Dr_. _Richnr d Williams n Mov.§, Packs and Stores ! Freight and Baggage DENTIST i Prompt Deli OFFICE AND RESIDENCE || P ivery of Gastineau Building, Phone 481 | FUEL OIL | B _._.__-ll ALL KINDS OF COAL Robert Simpson I PHONE 48 . Opt. D. —_— Graduate Angeles Col- lege of Optometry and | b : Opthalmology Konnerup S Glasses Fitted, Lenses Ground — MORE for LESS DR. R. E. SOUTHWELL ! I Optometrist—Optician | | pee—— e e . Eyes Examined—Glasses Fitted ) Room 7. Valentine Bldg. | P | Office Frone 484; Residence | wp, ) 7 | Phone 238. Office Hours: 9:30 | omorrow’s Styles | to 12; 1:00 to 5:30 | Today” » . . Rose A. Andrews Graduate Nurse | Electric Cabinet Baths—Mas- sage, Colonic Irrigations | Office hours 11 am. to 5 pm. Juneau’s Own Store Evenings by Appointment Second and Main Phone 259 i...__,..._,_ o s ® L = -2 R o D . i Trg:‘ UNEAU LAunDrY . nklin S| ween | ALLAMAE SCOTT Froat a2 Sooond Steeets Expert Beauty Spe:;lxnm i l PERMANENT WAVING Phone 218 for Appointment :L—fl.;m—_‘! Entrance Pioneer Barber Shop Qi 2 = 3 JUNEAU FROCK CHIROPRACTIC SHOPPE “Health from ‘Within” “Exclusive but not Expensive” * Solarium Baths * | “;::"::l ":::" ) —Authentic— 1 Palmer School Graduate — DR. DOELKER | PHONE 471 HOTEL ZYNDA . Large Sample Rooms ELEVATOR SERVICE C. L. FENTON Ry ] CHIROPRACTOR Golasteln Building '?" ARBA o * Office Hours: 10-12; 2-5 GE HAULED Evenings by Appointment Reasonable Monthly Rates || E. 0. DAVIS L. C. SMITH and CORONA TELEPHONE 584 || TYPEWRITERS Day Phone 371 | J. B. Burford & Co. customers” Lo ddos yogin e GENERAL MOTORS and The world's greatest need Is ;‘“‘0 PRODUCTS 2 courage—show yours by advertising. ] Ll HN! Read the advertisementsand sim- P JO SON plify your shopping. Harry Race - 1 RUSSIAN BATHS | The Green Building ! ‘Tuesday, Wednesday, Friday, | | Saturday from 1 pm. to 1 am. | | GASTINEAU AVENUE | .. . . 1 | ORPHEUM ROOMS s Alaska | Bteam Heated. mbyday,I, - | week or month. Near Commer- | | clal Dock, foot of Main St. | Telephone 396 Bessie Lund | 5 . .BREAD | .