The Daily Alaska empire Newspaper, March 30, 1945, Page 4

PAGE FOUR land deposits to 25 per cent it has been suggested that the price of gold be raised from $35 to $56 an ounce. The resultant 60 per cent upward valuation of gold reserves would permit of a further tremendous ex- pansion of Federal Reserve obligations on the basis of present required minimum reserves of 40 per cent against Federal Reserve notes and 35 per cent against deposits. If the sponsors of this proposal to raise the price of gold had deliberately tried to aggravate infla- tionary fidence of foreigners in the stability of the dollar, could not have hit upon a better means to attain their ends. The devaluation of the Daily Alaska Empire MPIRE PRINTING COMPANY Alaska, Juneau, Prestdent Vice-President - Editor and Manager - Managing Editor & Bus| Manager Entered Ir Second Class Matter. Delivered by carrier in June: six months, B: 15.00. aid, at the following rates: 15.00; £ix months, in advance, $7.50; One ve dollar and the accom- sae montt 8 favor 1f they will promptly notify . (Se Business ¢ e my i ne de. panying rise in the price of gold from $20.67 to $35 per ounce in 1934 was a grave mistake, as subsequent bvers L Offtce, €02 Brstoem Office; 315 events have proved. It was a highly influence throughout the period preceding the out- break of war, felt both within the country and abroad To repeat that ill-advised éxperiment in these critical would be an unpardonably irresponsible act, ly alarming to the public, that might precipi- flight from the dollar into goods and real property—an inflationary manifestation that the Gov- ernment has been trying hard to prevent. A further |1owering of the value of the dollar in terms of gold {would also create unease among Government bond- holders and make it increasingly difficult for the | Treasury to place new security issues with nonbank linvestors. Last, but by no means least, an arbitrary |change in the gold value of the dollar at this time | would be equivalent to sabotaging the Bretton Woods monetary agreements. For those agreements are based |on the assumption that the dollar will remain stable !in terms of gald. As Dr. Randolph Burgess, President of the American Bankers Association, says “our gold price is the peg on which monetary s ability through- | out the world has hung.” And its continued stability lis essential to any effective program for postwar | stabilization of world currencies Another consequence of douar devaluation that | has received relatively little attention is the resultant bestowal of tremendous windfalls upon foreign holders MEMBER OF ASSOCIATED PRESS e Assoclated Press is exclusively entitled to the use for o t sl news dispatches credited to it of not other- t and also the local news published paper days needle tate ALTIVES — Alaska Newspapers, 1411 Wash LAWS ies and inyolvement of modern life were emphasized, at least to us, dufing the recent session of the Territorial Legislature when we at- npted to read and understand some qf the proposed The 1 expense of the American people. In the 30, for| example, the raising of gold to $35 per ounce brought | law While a hasty decision would be that a law " . e " ; 3 1 : i | ‘about an imuiediate increase of 59 billion dollars in | which the layman cannot understand isn't a very g00d |y pyrchasing power of foreign gold reserves. Since | we suppose that such things are ne ry. BUt then world gold stocks have grown rapidly, owing in | at the same time it is a wonder to us how most of members of our Legislature who come from all large part to the stimulus to gold mining resulting | the from the higher dollar prices obtainable for gold.} walks of life are able to understand what they are During the war years, foreign gold holdings have been | voting into law expanding rapidly because we pay cash for imports | ] a P o A and let most of our huge vqlume of exports go out| The maze of laws under which we live is so Tt vesult hhs | under lend-lease arrangements. been a huge accumulation of foreign-owned gold and | dollar balances, estimated at 17 billion dollars (or 20| billion dollars, if foreign-owned private banking (unds} are included). Mere talk of dollar devaluation is likely | to precipitate a rush to convert foreign-owned dollar | balances into gold. In any case, the 14 billion dollars | of gold already in possession of foreigners would pro- duce a tidy increment of more than eight billion | dollars, while additions to foreign gold holdings caused | by the stepped-up subsidization of gold mining would [ follow | With swollen dollar resources, some foriegn groups | | would be in position to buy so much in our markets after the war that it might be necessary to restrict exports to prevent them from cleaning us out of scarce goods. Moreover, by taking gold valued at an ar- bitrarily high figure of $56 in exchange for our goods we should be driving a wretchedly poor bargain from | our own viewpoint. In addition, we should be bestow- ing benefits most erratically on countries that might | be able to finance purchases abroad without our aid. (Washington Post) | Fortunately there is no support As alternative to reducing the minimum re- | administration circles for this untimely quired reserve ratios against Federal Reserve notes | repeat the mistakes of the past complicated that the average man certainly cannot comprehend them. And we are further amazed at the ease and smoothness with which the average citizen moves through this jungle of legislative re- strictions, especially when you take into account the new governmental fad of making law by regulations Probably he goes ahead with his business not even realizing that such laws until official brings them to his attention. exist some . However, we suppose that an’involved civilization demands an involved program of regulation if ar semblance of individual liberty is to be preserved We seem to have worked out a system which, while its written laws are voluminous, is comprehended at least in principle by a vast majority of the people. But how it is done we don't pretend to understand Higher Gold Price proposal to washinclon |and more ineffectual. Many local!allied offensive 15 affecting the police have joined the horde of German people. It says: *“ Me"y_ refugees, until it is almost impos- would deny that this war is tor- |sible for Hitler to control the menting us more and more? Who would be so audacious as to assert that he is not tortured by hours of grave pnxiety? Who has not felt himself near death and, in the Go_Round i('ounzx'}' without using troops. | Even Gestapo men are deserting. et From Paps O | They trying desperately to i Itom 4 | make deals with the Allies through neutral border towns. Army deser-|face of the destruction of his own there is not a single Jew inside his|{jons have increased by leaps and possessions, has not thanked fate kingdom.” | bounds. |for the gift of bare existence be- | One new and perhaps most sig- |neath the smoking ruins? The look ARMS FOK ARABS? | nificant development is that most on the faces of men and women Senator Brewster, Maine Republi- | German farmers now flatly refuse 'who surge up from the cellars says can, another speaker, criticized the |to ship food to the cities. This is more than any words. Their eyes present Churchill-Roosevelt policy | particularly reminiscent of what are the eyes of tormented people.” which prevents furthe: migration of happened in the fall of 1918.|Despite all this, Hitler is still urg- Jews to Palestine. | Parmers have no faith in the ing the German people to carry on. extraordinary,” he said, German money, give up what goods “that you h: a Jewish national they are forced to only at the point | home to which the Jews cannot of a gun. go." | Neutral travelers do not believe Then Brewster dropped a bomb-'that Hitler will surrender. They is FURLOUGHS FOR SOLDIERS Chief of Staff General Marshall told the Senate Military Affairs Committee during a closed-door sion last week that he has re- tendencies at home and to destroy the con- | unstabilizing | in responsible | HAPPY BIRTHDAY | FRIDAY, MARCH 30, 1945 Ervin Hagerup David Orrin Edward Mrs. Earl Millar Janice Kathleen Hillerman Mrs. Cecil Swagerty | Mrs. Richard MeDonald | Acken Edwards George Lavall ! A. A. Griffiths | - {HOROSCOPE | “The stars incline { but do not compel” | B ] | SATURDAY, MARCH 31 | After the morning, when Mars is {in benefic s adverse aspects rule |today. Contradictory war news is | indicated | | HEART AND HOME | Rest and relaxation are recom- | mended for women today there may | Ibe a depressing sense of uncertain-| ity regarding domestic plans. Shift- ing of many homes will involve diffi- | cult problems. Food shortages smd\ additional rationing may be expect-| ed | BUSINESS AFFAIRS | Plans for many new industries and the development of long-established manufacturing plants promise much ifor the early postwar period. Pot-| of gold and dollar balances and the putting of an {teries and silk projects will focus at- | COLLABORATOR; one who labors jointly with another, excessive premium on foreign gold production at v.m-‘u‘n“o”. especially in the West. Becs his collaborator in the preparation of the manuscript.” and silk worms will add much to our wealth { NATIONAL ISSUES | Organized veterans of this sec | ond World War will become politi cally powerful. Although they will | co-operate with the American Le- gion they probably will be indepen- dent in their aims and original in| their ideas. " | | INTERNATIONAL AFFAIRS The uncovering of more atrocities practiced by our enemies will add | to the emphasis on punishment n;\ Nazi and Japanese leaders. Differ-| ences of opinion regarding penalties | will be emphatic among members of | the United Nations, it is predicted. | Persons whose birthdate it is have | the augury of a year of first-rate op- | portunities, although there will be| perplexities regarding which to ac-| cept | Children born on this day probably | will be talented and energetic. The tendency to overwork should be curbed. ( (Copyright, 1945) : | the G@man “Bulge Drive” last! December. Instead of increasing the size of | his Armies, Marshall said, he has concentrated on trying to effect better utilization of his men in all branches of the service. The| present Army size, he said, is the minimum with which he could op- | erate, and remarked that he had been “pauperized” regarding lhe‘i manpower now being drafted. \ In discussing the question of fur- loughs for troops now overseas, Marshall said it was recently de- cided to give furloughs to 12,000 men in the South Pacific. Getting men to the fighting theatres and back is a “pipeline” operation, he| said, and explained that in order | to grant home furloughs to, the 12,000 vets in’ the South Pacific he needed a total of 72,000 troops to replace them. | Marshall stressed the importance 0 ¢he Army of keeping men with ifront-line experience in the front lines. Their experience,” whether in battle or battle-supporting work, makes them invaluable in com- shell. He 1'('])0x'l(‘t{ a Washington still look for a last ditch Nazi stand | 5 . parison with men fresh from home. rumor that Ibn Saud had asked in the Bavarian mountains | sisted heavy pressure from his OWD pe Chief of Staff did not discuss for an American Military Mission | isunl and other Administration . charges against the Army tha to train an Arab Army and that NNEGAN ON CURFEW leaders to expand the size of the geqh troops are being sent out wm:; the President had agreed to send Democratic Chairman Bob Han- |Army beyond the 7700000 NOW 'y iricient training. fifty to sixty American officers to negan, who never observed a cur-|authorized by law. The pressure was| e Arabia as a Military Mission. few until Justice Byrnes' order |especially strong, he said, during|(Copyright 1945. Bell Syndicate Ine.) Note—Not all Jews favor the came out, but who has been a o o 4 policy of a Jewish homeland in|good boy ever since, recently ran P Palestine, The President’s chief mo- |into New York restauranteur Toots C d P l tive in conferring with Ibn Saud Shor, whom he brought to the| rosswor uzzie is understood to have been Arabian |White House during the last cam- ; oil, for which American firms have | paign. | ACROSS 27. Extinct birds jmportant concessions. Also the| Hannegan asked Shor if he would| % Redmetrically 55 iggtnat President may have wanted to stay open the extra hour permit-| o ‘\f;'\:’::‘l‘g,, AAE AT, counterbalance Russian influence in | ted under Mayor LaGuardia’s new | ime long gone 46. Tabiciana the Moslem world. order allowing night spots to re-| 13 keminine rame fi Gerehl ETas, main open until 1 a. m | 15 Whining ana #Humble GERMANY CRUMBL “Heck, no,” replied Shor. “I am| g7 ol i vt Authentic reports from inside 100 per cent patriotic. If Roose- | | measuro Germany tell a terrible story of |velt wants us to close up at twelve,| ° e German disintegration as a result 'we will close at twelve. Besides,| 1 6. Spindle on of combined Allied air and ground |anyone who ain't drunk by mid-| - Wheel turns blows night ain't trying” | abbr. S. e Travelers in.Germany during the {35 Diltpr: prefix Earment I . last month say that huge crowds INSIDE GERMANY | 25 Dinner course 61. City In Spition Of Yesaraars FIER mill around railroad stations night| Hitler's own newspaper, Voel- Sty 6. Derlved from 67, Demolish . DOWN ;' and day, waiting for trains which kischer Beobachter, last weck car- Eortal s Ve Por fcar taf *1- Mefhods appear infrequently. Police who try ried a significant article by Dr.| 96 Footlike part G5, Ipecac plant Paradise £ Rl ot to disperse mobs are becoming more Michael Baumel telling how lh(-} THE DAILY ALASKA EMPIRE—JUNEAU ALASKA B 20 YEARS AGO % cuving MARCH 30, 1925 Henry Moses, fur buyer, arrived on the Estebeth from Sitka. No work was done in the Legislature today owing to it being Seward Day. The Senate convened, called the roll, had the Journal read and then adjourned. The House adjourned the previous day to not meet until | tomorrow. { Territorial offices, U. S. Court and City offices were closed for a holi- lday. Stores were open as usual. i Tagging of salmon in Western Alaska was to be carried out according | to an announcement made by Dennis Winn, Agent in Alaska for the | Bureau of Fisheries. | Mrs. Frank Metcalf and little daughter Mary left on a visit to | Des Moines, Iowa. Weather report: High, 33; low, 28; cloudy. P Daily Lessons in English %. . corbon { e WORDS OFTEN MISUSED: Do not say, “All of my friends wrote to me.” Omit OF. Say, “All my friends.” OFTEN MISPRONOUNCED: Irremediable. Pronounce ir-e-me-di- a-b'l, both I's as in IT, both E's as in ME, accent third syllable. OFTEN MISSPELLED: Monologue; three O’s. SYNONYMS: Retrench, reduce, curtail, diminish, decrease, lessen, economize, cut down WORD STUDY: “Use a word three times and it is yours.” Let us increase our vocabulary by mastering one word each day. Today's word: “His friend was MODERN ETIQUETTE *:oprrra LEE Q. What would be a courteous way of giving a gift to a servant? A. A tactful, quiet manner that is free from patronage and one that shows sincere gratitude and good-will for the services the servant has rendered. Q. What kind of gifts are appropriate for the twenty-fifth wedding anniversary? A. Gifts of silver Q. What should one do if a friend begins to praise one in the pres- ence of others? A. Turn the subject of conversation as quickly as possible. 10 5 by OK and LEAR & C. GORDON B e e ] 1. Who has the largest vocabulary of all time? 2. What is the only domesticated animal that has shown no fear of the dark? 3. What is the opposite of the port side of a boat? 4. What is the abbreviation for and the full official name .of Russia? 5. Where is the famous “Flirtation Walk"? ANSWERS: 1. Cardinal Guiseppe Mezzofanti (1744-1849) is credited with having known 114 languages or, dialects of which he knew 50 thoroughly. 2. The cat. 3. Starboard. 4. U. 8. S. R—Union of Soviet Socialist Republics. 5. At West Point. | There is no substitute for newspaper advertising! HARRI MACHINE SHOP Acetylene Welding, (Seote-Neweomd System) OIL BURNERS Blacksmithing GrNS Plumbing, Heating, Quien, Ri-Basire O B Phone 319 OSCAR G. OLSON as a paid-up subscriver to THE DAILY ALASKA EMPIRE is invited to be our guest THIS EVENING. Present this coupon to the box office of the CAPITOL THEATRE and receive TWO TICKETS to see: “STARS ON PARADE" Federal Tax—11c per Person PHONE 14— THE ROYAL BLUE CAB CO. and an insured cab WILL CALL FOR YOU and RETURN YOU to your home with our compliments. WATCH THIS SPACE—Your Name May Appear! Seed covering ; Glarial snow " © i, b Starting SUNDAY, APRIL 1st < 1 THE MOTION PICTURE EVE Day and Date Run WITH OVER 200 LEADING THEATRES OF THE NATION! T OF THE SEASON THE SONG OF | BEI{NM)E’I‘TE/ \"‘"‘JENNIFER JONES o in her Academy Award Winning Performance! et T ————— DA LENTURY and at REGULAR PRICES! NOTE: Continuous show on SUNDAY! One show nightly at 8 P. M. WEEK DAYS! Entirely Kind of dog 7. Italian river Storms Public vehicle iHowl In addition word Falls into disuse Sensitive 29, 1gorot vill Jewish month i Anclent wine 1 . One who wer cludters cive clearly ] Arah Biblical king wiftly Toward the mouth . Lumberman's Btrike genti.. .. DEPOSITS IN THIS BANK ARE INSURED First Natiomil Bank of JUNEAU, ALASEA f FEDERAL DEPOSIT SURANCE CORPORATIO TRIPLETTE & KRUSE BUILDING C .CTORS EXPERT CABINET WO! OF ALL KINDS 20TH CENTURY MARKET BUILDING SHOP PHONE 96 After 5:00 P. M. PHONE 564 Silver Bow Lodge @Nn. A210.0.F. 'Meets each Tues- day at 8:00 P. M. I.O. O.F. HALL. Visiting Brothers Welcome GEORGE CLARK, Noble Grand MOUNT JUNEAU LODGE NO. 147 SECOND and FOURTH Monday of each month in’ Seottish Rite Temple beginhning at 7:30 p. m. E. F. CLEMENTS, Wor- shipful Master; JAMES W. LEIV- ERS, Secretary. | NIGHT SCHOOL TYPING and SHORTHAND Warfields' Drug Store (Formerly Guy L. Smith Drugs) Hg}'&l‘ul-‘é;lé l;)c:e;ie-fl Mon.-Tues.-Wed. 7:30 to 930 ’§ IS 3 City Council Chambers ICE CREAM Miss McNais—Ph, Dougias 48 ——————— B. P. 0. ELKS Meets every Wednesday at 8 ] P. M., Visiting Brothers wel- come. A, B. HAYES; Exalted Ruler; H. L. McDONALD, Secy. The Sewing Basket BABY HEADQUARTERS Infant and Children’s Wear 139 S. Franklin Juneau, Alaska [ DR.E.H.KASER || FLOWERLAND | DENTIST CUT FLOWERS—POTTED BLOMGREN BUILDING PLANTS—CORSAGES Phone 56 “For those who deserve the best” HOURS: 9A. M. to 5 P. M. 2nd and Franklin Phone 557 ASHENBRENNER’S NEW AND USED FURNITURE Phone 788—306 Willoughby Ave. I ——————————— Dr. A. W. Stewart DENTIST 20TH CENTURY BUILDING Office Phone 469 Dr. John H. Geyer Jones-Stevens Shop VENTIST LADIES'—MISSES’ Room 9—Valentine Bldg. READY-TO-WEAR PHONE 763 Seward Sureet Near Third ROBERT SIMPSON, Opt. D. Graduate Los Angeles College of Optometry and Optiialmology Glasses Fitted Lenses Ground l —_— “The Store for Men” SABIN’S Front St.—Triangle Bldg. "The Rexall Store” Your Reliable Pharmacists H. S. GRAVES BUTLER-MAURO DRUG CO. HOME OP HART SCHAFFNER & MARX CLOTHING HARRY RACE CALIFORNIA Grocery and Meat Marke/ 478 — PHONES — 387) High Quality Poods ¢ ) Moderate Prices i Druggist “The Squibb Store” The Charles W. Carter Mortuary PFourth and Pranklin Sts. PHONE 136 PIGGLY WIGELY For BETTER Grocerles Phone 16—24 R JUNEAU - YOUNG SRR CORFOCYD Ht:rdwar,e Company DAVE MILNER Shelf and Heavy Hardware Phone Green 279 Guns and Ammuniticn et FOR TASTY FOODS || and v&x;mn You'll Find Food Finer and Service More Complete a¢ Gastineau Cafe Foremost in Friendliness r—————— | —— INSURANCE |||’ mecomener Shattuck Agency Duncan’s Cleaning and PRESS SHOP . Phone 15 “Alaska Laundry " Juneau Florists Phone 311 1891—0ver Half a Cenfury of Banking—1945 The B. M. Behrends Bank Oldest Bank in Alaska COMMERCIAL ¥ {