flm KUSKO TIMES
A. X. Grant, PkibiSiha;, S
Ovaar and Edtton
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Entered ae seeona-eiass. matter Ao
iu^ 20th, 1023, at tbs poetolBee at
Tobetna, Alaska, under fb® Act. at
Majah 3, 1879.
Takotna, Alaska, October >,Stf» 1931..
MINES OF YU^JffcN VALLEY
ARE CONTRIBUTING LARGE
LY TO ALASKA OUTPUT. 1931
-1 ' I
(Valdea Miner.)
The mining camps of the Yukon
valley are contributing a splendid
totj^l to the output.of Alaska, and. the j
Yukon, for the year 1931. This was'
the, news brought here by C, L. Set
tle rpier, former Dawson, editor and
holder of silver-lead, ppo^.ertiep in the
Mayo camp, who recently passed
through Valde* for the . South
“From the* best authority ,t could
gather,” -^aad Mr. Settlfemier, “the
Fairbanks district this y^ar will pro
ducp approximately two million dol
lars’ worth of geld.. The bulk of the
output will come from the operations
of lhe five dredges of the. Fairbanks
Exploration. Company, qo Goldstream
and. Cleary vcreeks. The. company
makes no announcements of its gold
recoveries, hub .others outside the
conjpjiny have placed tHat figure as
somewhere near the total.
“Aside, from the ofiya dredge* ^
thetbig company, four other smaller
dredges arc warkingi in the district, i
notably two under 4he management
of ^.Austin, on ^Fairbanks creek, j
--
International
Airways
!f9y m comfort t- all points in
Jin in our four-passenger
in plan*. Large baggage
pertinent separate from the
Equipment fee water
61c’ -seeing trip' sag tim\
$5 JO pa. paE«cn„-T.
Fer.Hetae to Alr ke
Robert H. Routig
AGENT
Fairbanks is thriving nnd has no1
been in a healthier condition foj
many years. But she has all the
labor needed, and in that respeet is
the same as other interior camps.
“The Dawson camp this year will
produce about $750,00$) (ram the op
orations of the Yukon Consolidated
Mining Company, Ltd-. organised by
A. N. C. Treadgold„«nd now working
on the Klondike valley and Dominionk
creek- This company., like the , big
company ip Fairbanks, has an. esti
mated life' of 20. to 25 years -on its
present holdingf, and al.-o.in working
five large, modern dredges.
“The stream of gold from the in
terior also will be augmented this
year by generous prod fictions, from
the old. districts, of Circle, Livengood.
Hot Springs, Sixtjrmiie, FortymUe
Ruby, Iditarod, Marshall, Rampart,
and olf*,ehK
. “The Mayo silver-lead fields have
curtailed their operations owing to
the low price of metals, but.even un
der the stress..of the market they are
shipping this year a total of five
thousand tons of high-grade, concen
trates and crude ore having a. splen
did total value, said to approximate
three million dpllars even at the pres
ent low market price. The camp- alsp
turned out this year two thoused
tons of ore which has been hauled tc
the water front at Mayo and is being
held for shipment next season,, so it
is seen, that the Northland has in this
camp a premier producer which
makes her an outstanding figure in
the mining world.
“The Mayo camp is a year-.around
producer, working every month of the
I ,i,nlu a . n«wl nnnKlorl f A L'OOn Oftino1
now because of the phenomenally
rich ores in the Treadwell-Yukon,
mine, known- as the Lucky Queen.
The company has several other mines
in the district) whiph will bp in the
producing column, when .metals ad
vance, .and many, other holders of
claims in the district also have ore
that they will be ftblf to ship when
the market is restoret) to normal.
“In the Mayo district are some two
thousand claims^ npV.unore, than,. 10
per cent of which are held by hig
companies. The, Guggenbdms,. the
Treadwell-Yukon,the. Marcus Daly
interests, and th6 Smel
ters of Canada have interests in the
Mayo/district. The Mayo -silver-lead
fields are one of the very few new
lead fields of the world and one; of
the highest grade silver producers of
the continent. If prices of these
metals be restored to the position of
four years ago, the camp in all likeli
hood will be one of the liveliest on
the continent.”
BASIS OF GOLD .DATES
BACK TO EARLY HISTORY
The gold standard. means that the
Government guarantees that goods,
products and services may be ex
changed for gold or gold equivalent.
The unit of value of gold in tftis
country is fixed at a gold dpll^r,
which is defined by law as 25.8. grains
of gold 0.900 fine, and equal to 23.2
grains of pure gold. For all cnWeney
in circulation the Governments, .has
dollar for dollar, in gold or
paper.
In 1786 Congress adopted' silver
standard, defining the unit as a silver
dollar of 375,64 grains of pure silver.
FIRE INSURANCE
l]
\i
You should carry a liberal amount of fire insurance,
for the sake of your credit and your peace of mind.
heedless to say this insurance should be of the very
highest quality.
Th*t’ii the Kind Written By
Alaska Insurance Agency
FAIRBANKS, ALASKA .
In 1792 two units, were adopted, one
of gold containing 24.75 grains of
pure gold and a silver dollar contain*
! ing 371.25 grains of pure silver. The
I ratio of gold to silver l£q 15, sand
both were used as legal. ^enfler. |
. These ratios underwent .numgrojw'
change* until the. gold staudard was |
abandoned during, the Civ.il War.
• Then, in 1873,. Congress, adopted a
gold standard,, jtnaking the gold dollar,
the unit of value with 25.8 grains of
gold 0.900 fine.
Silver dollars; were made legal ten
der in 1878 by, an ac.t of Congress, and
the act of 1900 establishing the gold
.standard, also provided that nothing
in the act should affect the legal ten
der quality of the silver dollar or
■ other federal ; money,
i Under the presept law, it. is guar
anteed that all currency or checks is
' sued by the Government Rr any bank
will be paid in gold upon demand of
the person holding ;ith6,}purrency or
1 checks. , Silyer certificates are re
1 deemable, in silver,Afmd.»gpldr,because
! of its weight, is not much .in demand
| in everyday i$*us$n$s»t?)r
Gold certificates ^ssuetfc byjthe Tfeaj-i
! sury are issued,duly for,their equiva*
'lent in gold, wfych:n\efmg that when.
: for instance, a $10. gold certificate is
Ijaid out,by |he, ff reasj^y. j$,10 in gold
must be ,recpived fprj it. ^o that .in
back, of the outstanding gold certifi
cates, amounting to $1,700,000,000,
i the Treasury rhol$s; gftjd ^dollar for.
dollar.
j “Greenbacks,” which are, United
! States notes, are secured by gold dol
I lar fyr dullar pel^,b,y the Treasury.
The most important currency, since
! the adoption of the Federal. Reserve
Act, is Fe’dergl j,Reserve notes. Ac
1 cording to law „it is required that
j When, Federal Reserve banks issue
: currency they must have a.reserve of
' 40 per; cei\t the amount in gold and
S 60 per oen£>^n-.eligible securities or
j gold, so that treae. - notes are seeureds
; dollar, for dollar before they reach.
I the public, ,ifoyever, the Federal. Re -
J serve baj}Jg»-'ha.ve: seady twice. as
! mpch gold, deposited with the Treas
yry at p^epentittogaarantee theft eur*
tency as,,4s:-required by law; For
$2,400,000^000 in currency the Treas
i uty '.ol^s, $1,800,000,000 in gold for
! the Foetal Reserve banks.
Under the present system the Gov,
; ernment: now holds- $3,797,000,000 in
gold, asta dollar for dollar guarantee
| fpr certificates in circulation. It
a|so has. $54,003,000 in “free gold,”
i ^ gold in the general fund of
i t(ie Treasury, which could be spent if
i necessary. Another $50,000,000 in
1 gold also is owned by the Govern
j ntent. ; j
j Motorist—'These chickens! in the!
! road cause a. lot of accidents. i
armer—But not as many as the
■ chickens beside the driver. - j
Takotna Pool Hall
Fre^fr Fruits * Candles , Soft Drinks:
Tofo$ccosT Ciggrs , Cigarefcs
Appless Oranges
is
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Best of Meals and Rooms
Where Everyth lag Is Homelike, and .
Where You Are Cordially Weleomed ,,
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