The Daily Alaska empire Newspaper, January 12, 1934, Page 4

34 THE DAILY ALASKA EMPIRE, FRIDAY, JAN. 12, 1934. Daily Alaska Em pire Depreciation of the dollar in terms of gold’ tends to subsidize exporting industries temporarily by enabling them to sell at prices which are lower KOBERT W. BENDER - - GENERAL MANAGER in terms of foreign currencies, and tends to handicap import trade by increasing the dollar value of every evening except Sunday by blished {PIRE ‘at second and Main EMPIRE_PRINTING COMPANY Streets, Juneau, Alaska. the foreign merchandise. Both these trends are contrary to what is required by our creditor position in {world commerce. Yet the fact remains that the Entered in the Post Office In Juneau as Second Class matter. SUBSCRIPTION RATES. actual trend has been toward better foreign business. Perhaps this is an instance of over emphasis. Qellvered by carrier In Juneau and Douglas fcr $1.25 | Monetary policies can conceivably be very important per month, By mu I, postage paid, at the folloWing rates: One year, In advance, $12.00; six months, in advance, $6.00; one month, in advance, $1.26. Subscribers will confer a favor if they will promptly notify the Business Office of any failure or irregularity in the delivery of theif papers. Telephone for Editorial and Business Offices, 374. MEMBER OF ASSOCIATED PRESS. The Associated Press is exclusively entitled to the use for republication of all news dispatches credited to it or not otherwise credited in this paper and also the local news published herein. ALASKA CIRCULATION GUARANTEED TO BE LARGER THAN THAT OF ANY OTHER PUBLICATION. THE GOLD PROFIT. One of the most interesting angles of dollar devaluation, namely, the gold profit to be made from | it, was almost wholly overlooked until Dr. James Harvey Rogers discussed the matter in a more or less speculative vein in a speech last month at Cincinnati. Since then the question has received widespread attention from financiers and Federal officials as well as members of Congress. The ques- tion is-hardly likely to become a major political | issue, but it is apt to be an important aspect to the entire monetary policy. We have monetary gold stocks of $4,300,000,000, of which about $3,000,000,000 is held by Federal Reserve Banks. Devaluation of the dollar 50 per cent, for example, would increase this gold stock by 100 per cent. Instead of having $4,300,000,000 worth of gold we would have $8,600,000,000. The quantity of gold would be the same, of course, but its value in dollars would be doubled. The question is: Who gets this profit, whether it be 100 per cent, as in this hypothetical proposi- tion, or 85 per cent or 70? Under the present laws the profit goes to the Federal Reserve System on a1l the gold it holds. Presumably, the law will be changed, so that the profit will go to the Govern- ment, inasmuch as profit results solely from statutory change in the value of the dollar. If the Government takes the profit, the next question will concern its use. If it is used to pay current obligations of the Government, it will furnish a tremendous stimulus to business, increasing cash reserves in the form of deposits at Federal Reserve banks by $3,000,000,000 to $4,000,000,000, and so in- creasing the loaning powers of the banks by about ten times that amount. This would set up an inflation of bank credit—an inflation that would have a definite maximum limit, which would come to an end automatically as soon as’ the banks lozned all they safely could, and were again de- pendent on the Federal Reserve for credit. SHOULD BROADEN VISION The rather severe -indictment of the Roosevelt monetary policy, made by the Brookings Institu- tion, is built in large measure upon the presumed handicap that policy is placing on the Nation's foreign trade. Many other groups of scholars have been similarly concerned over the dollar depreciation policy effective since last April. The facts of import and export trade, however, do not bear out the dire predictions. Both imports and exports have mounted during that time, no doubt due in part to the general improvement of world economic conditions. easily bank by mail at this bank. them in. Cash should be sent registered mail. All bank by mail May we serve YOU by mail 2 2 E ok 4o "‘fi i R 85 HERE IS REAL SERVICE! Regardless of where you are, the services of this bank reach out to you as near as the near- est mail box. Whether you are traveling or just staying at home, you can safely and ‘When inconvenient to call at the bank in person, merely endorse checks and drafts “For Deposit Only,” and mail actions receive our immediate attention. First National Bank SANITARY for our foreign trade, but so can many other matters be equally as important. Certainly the tariff policy, unchanged since the Hawley-Smoot law, is a greater deterrent to foreign trade than anything that has been done to the dollar. Likewise, the refusal | to adjust the war debts must be regarded as a substantial influence in discouraging larger im- It might be well for the scholars to turn money matters for a time and reexamine| | ports from the other national policies which have been in great part obstructing the revival of foreign commerce. BOY SCOUTS TO BE CALLED. In another month President Roosevelt will set la new task for the Boy Scouts of America. Just | what it is nobody knows for the President has !nuL divulged the nature of the task. On February }10, he will broadcast to the Scouts on a nation-| wide hookup and at that time clear up the mystery | that now surrounds the matter. It is certain tha int has to do with the relief work now proceeding !throughout the entire country, but nothing more {has been revealed. There can be no doubt, how- ‘ever, that the Boy Scouts are ready for any task | that Mr. Roosevelt may assign to them. They are |to be congratulated on their new opportunity to | prove their usefulness in a national emergency. Those observers who predicted a stormy voyage for the Roosevelt Administration through the Con- gressional sea must revise their opinion after the ! signal victories achieved by its supporters on every test of strength that has taken place since Congress convened. { Things seems to go by contraries. We got good |liquor for sometime after Prohibition came in and we seem to be getting bad liquor mnow after it's gone out. Hats Off to the Forestry Service. | (Seward Gateway.) | Announcement was recently made that in all likelinood a creosoting plant, to treat crossties for ]Lhe Alaska Railroad, will be installed somewhere ‘along the railroad, preferably Seward. | While it was announced at the time a large contract for ties was awarded a Washington lum- berman, and the matter of erecting a plant in Alaska (was under consideration, the actual consummation 'of the project is due, to a large extent, to the |activity of the Forestry Bureau. a| Of the bureaus which labor earnestly to fulfill |the spirit of comprehensive conservation none have ,worked harder to safeguard Alaska's interests than ithe Forestry Department. It takes courage for one bureau to assume¢ open |opposition to another, as was shown when Regional {Forester Charles Flory, in 1929, incurred the jdalousy lof the Bureau of Bioloical Survey by supporting {the trappers in their plea for the opening ping of beaver. | From the inception of the tie questioh the | | Forestry Bureau has labored to help the local tie- | hacker in securing what is justly his due. While | the matter became in a measure controversial, it | at no time became strained, and those differences of opinions, aired publicly, were at no time acrim-‘ onious or tainted with vindictiveness. | It is a happy ending to the entire tie question, and now that full investigation has been made looking to the erection of a creosoting plant it {guarantees to a large number of men remunerative lemployment and full value to the Federal Govern- iment for every dollar expended. trap- | A headline says 60,000 Children Lose Jobs Under |NRA.” Another way to put that is, 60,000 little | {slaves have been freed in time, let's hope to learn | {to be children—(Macon Telegraph.) { So far, it seems, repeal has furnished a nemflhr' paradox. In many places it is being employed as a means to enforce Prohibition.—(Philadelphia Inquirer.) Not Because We Are Cheaper BUT BETTER RICE & AHLERS CO. PLUMBING HEATING SHEET METAL under transe Harry Race DRUGGIST The Squibb- Store GROCERY “The Store That Ple’asa” 1. 8 DEPARTMENT OF AGRICULTURE, WEATHER BURFAU The Weather /By the U. 5. Weather Burewu From Tmpire Rieb o ! b Helerllz;;7 ;';. L: Albrecht Farecast for Juneaw and vicinity. beginning at 4 pm., Jan. 12: N T Ty OTHERAPY Snow and colder tonight and Saturd‘ay; itiite 4 terly winds. JANUARY 12, 1914 | “‘“"-"“"”“""‘" Irfra Red Time Baromevéer Temp Humdity Wina Veiocity Weathe | There had been a marked im- | Ray, Medical Gymnastics. | 4 pm. yesty .....2052 31 ) | 8E 12 Snow | provement In Sitka since the .|| S Coldsteln Bulding 4 am. today 2915 33 88 s 4 Brow, || agtiration it Ee ahmiolouC BeV: et Dons ST R | Noon today 29.06 25 95 NW 14 Snow * [ernment there, according to the = CABLE AND RADYO REPORTS Rev. George E. Howard of that city, ®™—— ~— =~ 238 ¢ e ~ |who arrived on the Al-Ki. “The Rose A. Andrews A YESTERDAY | TODAY streets are now lighted and the Graduate Nurse Highest 4pm. | Lowest4am. 4am Precip. dam. city is taking on mew life,” he| | Electric Oabinet Baths—Mas- | Station temp. temp. | temp. temp. velocity 24hrs. Weathes [Said. * ! sage, Colonic Irrigations Barrow 20 -28 -28 -26 10 0 Clear i | office hours 11 a.m. to § pm. | Nome -20 -20 -20 -16 6 0 Clear| On account of the rough weath- | Evenings by Appointment Bethel -28 -36 -40 -40 0 0 Clear|er the Juneau ferry refused to | Second and Maln Phone 259 Fort Yukon -30 -40 -58 0 0 Clear | carry the Juneau High School bas- B 7 Fairbanks 44 a4 0 0 Cldy | ketball team and crowd from Ju-' % o Dawson 2 -16 18 24 01 Cldy | neau to Douglas, so that there was | E. B. WILSON St. Paul 14 12 6 22 4 0 Clear |no game on the previous night. - ¥ i Dutch Harbor 20 18 18 20 10 02 Cldy | The postponed game was scheduled t—Foot Specialist Kodiak BT 30,484 4 8 0 Clear | for January 13, according to r:- 401 goldsteln Buriding Cordova 2 2 -l 6 .04 Cldy | vised plans. g PHONE 496 Juncau ¥ 3 BE o o5 Ao, M Snow - o s e T Sitka 42 — - 4 Trace Cldy| W. S. Pullen, chief electrician for = - Ketchikan 42 36 40 14 14 Rain | the Alaska-Gastineau Mining Com- | | . Prince Rupert 40 38 40 23 16 Clear | Pany, and city councilman. left on, | DRS. KASER & FREEBURGER Edmonton 30 18 16 10 0 Clear | the Alameda for the south on his DENTISTS Seattle 48 46 2 12 32 Rain|Way to his former home in Yar- Blomgren Building Portland 50 46 40 6 32 Rain | mouth, Maine. He expectsd to re- | PHONE 56 San Francisco ... 52 50 %4 4 [} Clear |turn in a few weeks. Hours 9 am. to 9 pm. 3 7 The Juneau High School band & PR W P was to resume rehearsals in the. | A nyo_u BI.LY %ur | evening meecting at 8 o'clock in the | Dt' gi:nl:'is'{enne | band room at the old Grand The- utomatic Oil Heat [ and room at the old Grand The | pooms 8 and 9 Valentine Bc SURB! be the first meefing since the Butlding OUR BURNER WILL | holidays and a full turnout was ex- Telephone 176 GIVE YOL REAL ; Bt » o . . SK, for many years a SERVICE OlldQ bunna:r leading merchant of Skagway and with a a pioneer of that city, was in Ju- Dr. J. W. Bayne | DEPENDABLE neau. He was summoned here as DENTIST ! CaPablq, Dealer |a juror at the present term of Rooms 5-6 Triangle Bldg. | Court but was excused by Judgs Ofice nours, 9 am. to 5 pm. R. W. Jennings and planned to ‘«venings by appointment, WE ARE OIL HEAT EXPERTS WE UNDERSTAND HERTING PROBLEV) 2 BRe rure you get a good., CORRECT installation 3 Be rure a SURVEY of your heating plant ir made at lowcort. Come in and see ur. El.t Dependable Automatic Heat Harri Machine S[lop Plumbing Heating Sheet Metal MADE FOR COMFORT COMFORTABLY ,bset:il_n vrt:lof “Fabricoid”. . . legs ] to protect your ru, Rigid folsfileg tabl: . nyo burns:r sharp edges . . . rounded corners. . . padded top upholstered tq match chairs. Available in black and color combinations. Perhaps you believe a comfortable bridge set doesn’t exist. _Come and try this one! JUNEAU-YOUNG HARDWARE (0. S-PIECE’ BRIDGE SET New type folding chairs with shaped “Perfect l:'osture’E backs . .“tlwidc :c‘;ets « « . both seats and backs generously padded and covered with hard w ear- I PRICED! $18.00 Individual Tables as shown Red, Green or Brown $5.75 Other Styles e ’ 20 YEARE AGO ] — PROFESSIONAL return to Skagway on the first | northbound steamer. e JUNEAU ELKS KEEP LEAD IN | ~ TOURNAMENT | Glasses Pitted, Lenses Ground [ — Phone 321 | Robert Simpson t. D. Jreduate Angeles Col- lege of Optometry and Opthalmology — {Positions of Three Cities Remain Same in First Match of Second Half Juneau Elks’ | lead increased their | Office Pnoae 484; Phone 238. Office Hours: 9:30 in the telegraphic bowling g i | i Room 7, Valentine Bldg. Residence to 13; 1:00 to 5:30 | -— tournament with Anchorage and | Ketchikan members of ths Antler- |ed tribe in the first match of the second half which was play- ed yesterday afternoon. The local team totaled 2738 for the match yesterday and Anchorage retained second place with a total of 2624 while Ketchikan made a total of | 2526. Standings of the teams and totals for the six matches that have been played in the ten- ' match tournament are: Juneau,| | | | 17,113; Anchorage, 15,925, and Ket- chikan, 15,090. Individual scores made by the ——— ® Dr. Richard Williams | Gastinesu Buflding, Phone 481 | Dr. A. W. Stewart — DENTIST ; OFFICE AND RESIDENCE - — = DENTIST Hovrss 9 am. to 6 pm. | SEWARD BUILDING Office Phone 409, Res. Phone 276 | members of the Juneau Elks' team were: ' Barrgar, Sr. Feldman. 529; Kunkle, 478; Mac- Donald, 477; Larsen, 555. Individual scores made by mem- bers of the Ketchikan lodge were: Thompson, 506; Daniels, 473; Bur- gun, 523; Thibodeau, 518; Zurich, 506. Four more matches remain to be played in this tournament, after the conclusion of which, it is planned to hold a tournament be- tween new members of the Elks lodges of the three cities. . 185 160 193—538 I‘U’NE AMP, Metealf 157 168 192—517 AU s LE Radde ... 200 231 177—608 SHOP Stewart 190 169 181—540 The Little Store with the Barragar Jr, 199 158 178—535 BIG VALUES Totals .. . 931 886 921-2738 Anchorage Elks made the fol- H lowing individual scores in yes- C. L. FENTON terday’s match: Kennedy, 585; CHIROFRACTOR Soutn ¥ront St., next to Brownie's Barber Shop orfice Hours: 10-12; 3-8 Evenings by Appointment S HI-LINE SYSTEM | Groceries—Produce—Fresh and Smoked Meats Front Street, opposite Harris | Hardware Co. | CASH AND CARRY | AW Holding Fast to Established Principles Through all the business changes of A idififadid/ d .50 and $2.75 | LU 3 igr’" Juneau Lumber M ills, Inc. ER | FRYE'S BABY BEEF “DELICIOUS” HAMS and forty-two years, the management of The B. M. Behrends Bank hasg remained the same, and has adhered unfailingly to the established principles of sound and con- servative banking practice. Now, as since 1891, the safety of de- positors® funds is the first consideration here, and the good will of customers is regarded as the greatest of the assets of the institution. - OFFICERS B. M. BEHRENDS, President GUY McNAUGHTON, . GEORGEE.CLEVELAND, Cashierr - -~ - = Asst Cashier JAS. W. McNAUGHTON, Asst. Cashier The B. M. Behrends ' sl \|| JUNEAU.YOUNG l | Fraternal Societies il B. P. 0. ELKS meets every Wednesday at 8 p. m, brothers welcome. L. W. Turoff, Exalt- ed Ruler. M. H. Sides, Secretary. Seghers Council No. 1760. Meetings second and last Monday at 7:30 p. m. Transient brothers urg- ed to-attcnd. Council Chambers, Fifth Streed, Drnrzmhgomynlml—n_y.l time. A tank for Diesel OH | Night Phone 1851 Day Phone 13 | — OF Gastineau Channel s - ¥ Visiting L ENIGHTS OF COLUMBUS JOHN F. MULLEN, G. K. H. J. TURNER, Secretary and a tank for crude oil save burner trouble. PHONE 149, NIGHT 148 RELIABLE TRANSYER g ) Wise to Call 48 Juneau Transfer Co. when in need of MOVING or STORAGE Fuel 0il Coal Transfer ! \ —~d Konnerup’s | MORE for LESS I t Funeral Parlors | Licensed Funeral Directors | and Embalmere H i ——a B JUNEAU FROCK z { § — SABIN’ Everything in Furnishings for Mem TeE JuNEAU LAUNDRY / Frauklin Street between ') Front an? Becond Streets ' PHONE 359 { SHOPPE HOTEL ZYNDA | Large Sample Fooms | ELEVATOR SERVICE LS T . AN Ly GARBAGE HAULED Reasonable Monthly Rates E. 0. DAVIS | TELEPHONE 584 Day Phone 371 MAYTAG PRODUCTS W. P. JOHNSON | J B Bur (1) « D, £