THE KUSKO TIMES
A. X. Grant, Publisher, Sole
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Entered as secona-ciase matter Au
;ust 29th, 1923, at the pnetofHee at
okotna, Alaska, under the Act of
March 3, 1879.
PEGGING THE DOLLAR
(Detroit Free Press.)
Quite a bit of misinformation is
being printed about the current ef
forts to establish stable exchange
rates between American and fooreign
currenciees. One commentator, for
Instance, writes: “Foreign countries
will fix a price at which our dollar
will be pegged, and we are quite do
cile about it.”
The inferences of this statement
are that the United States and the
United States alone has a right to
fix the exchange value of our cur
rency; that the United States is su
pinely giving up this right, and that
hostile-miuded foreigners are step
ping in to exercise the American pre
rogative and in some way work evil
to America by doing so.
All these ideas are wrong. Fixing
a price at which the dollar may be
exchanged for francs, and francs for
dollars, is a matter that concerns
France as much as it concerns the
United States. “Pegging” the dollar
involves “pegging” the franc, too,
pnd any rate of exchange that may
be agreed upon must be supported by
botoh sides or it will fall through.
Ihe United States is not standing
Idly by while other nations establish
the exchange values of our currency.
Quite the contrary. America’s most
Important victory to date at he Lon
don conference has been jus on that
point. The election of James M. Cox,
one-time Democratic candidate for
President, to be chairman of the
monetary committee of the Econ
omics Conference, insured that dis
cussion of the question would be car
ried on under the leadership of the
United States. And that decision,
needless to say, wa sa deep disap
pointment for France and the other
countries allied with her to maintain
the old gold standard. A second set
back for France was the rejection by
the American delegates of the first
European proposal of a dollar ex
change basis.
One further point should be made,
“Pegging” the dollar is not going to
affect its intrinsic value, Canada’s
dollar wag still a dollar o Canadians
when the price of it went to 85 cents
In American money; the English
pound remained the pound even when
the price of it dropped in New York
from $4.86 to $3.50. And none of the
j bouncing around the dollar has done
; ii^the exchange markets since March
; 4 ha saltered its usefulness to the
I nian who has one in his pocket... The
[chief effects have been felt by the
' comparatively few persons engaged
, in trade.
! RULES ARE ISSUED
ON SALE OF GOLD
WASHINGTON.—Under new reg
ulations issued by the Treasury De
partment, consignments of newy
mined god intended for sale or ex
port must containe at least two
ounces of refined gold and at least*
two parts of gold in five by assay.
Gold will be receivable in form of
oars, buttons reeort sponge, lumps,
grains or dust in the native state free
from earth or stone, or nearly so.
All consignments must be aecompa
' nied by affidavits showing the source
1 of the gold and the time when mined.
; Persons delivering gold must keep an
j accurate record of all gold mined or
acquired, and these reports must be
available for examination by Treas
ury representatives for at least a year
after the consignment is delivered.
j TACOMA—Assuring operators of
Western mining States and Alaska
the bes obtainable price for gold,
Manager E. A. White, of the Tacoma
smelter, owned by the American
Smelting & Refining Company, con
trolled originally by the Guggenheim
interests, announced his company will
pay ore or bullion producers in ad
vance of the sum of $20.67 an ounce
and upon settlement will make a later
payment of the difference between
| the first payment and the price ob
I tained in the world market.
It is said the Federal Reserve Bank
will determine the world price, and it
also is claimed that with gold selling
i today in the London market at $20.27
an ounce the additional sum for pro
. ducers will exceed $9 an ounce.
'
CUBAN WATERS BRISTLE WITH
I PRESENCE OF U. S. WARSHIPS
WASHINGTON. — Toward Cuba,
with its rumbling volcano of discon
tented forces, Secretary of the Navy
Swanson sped while the Administra
tion’s decision on assuming the heavy
responsibility of armed intervention
hangs upon the fateful events of the
next few hours,
Swanson is hurrying toward the
Cuban capital aboard the cruiser In
dianapolis, but thus far it is feared
that a disruption which might bring
bloodshed, disorder and anarchy and
demand intervention will not come
after the new cou pof last Tuesday
by the army and navi enlisted men,
which caused the provisional govern
ment to resign.
Hoping such a momentous step will
not be necessary, President Roosevelt,
in an unprecedented move, called the
diplomats of leading Latin American
nations to his desk to tell them his
fears and hopes and his extreme re
luctance to intervene.
Swanson is to assist Ambassador
Welle sin advising the President of
the fast moving situation iij the
islands.
HAVANA.—"Ctiba's turbulent situ
ation reached an impasse for which
NEW STOCK! NEW PRICES!
The Famous Reliance Brand Canned
CoodsSExclusively
Swift’s Oyenized'. Hams and Bacon
General Merchandise
ROABHOUSE IN CONNECTION
pTwTcarlson ~ OPHIR
no one sees anything but a bloody
solution.
The Leftist, or radical, administra- j
tion continued on the surface to be
optimistic in its predictions that tlie
government set up by the last coup
will be successful, and declares tha.
order will be maintained and .there
will be no American intervention. But
all sections of the more conservative
opposition group sees the inter
lion as an accomplished fact u.n.o
In the face of this the five-man
junta administration, set up after the
enlisted men ousted .the commis
sioned officers and obtained control ,-f
! the government, tackled head on its
! most dangerous .problems. Secretly
hoping and resoved to disarm aJ
civilians, it began to try to restore to
former positions the officers ousted.
Impartial observers believe that nei
ther effort will be successful.
PROF. EINSTEIN, FAMED SCI
ENTIST, MARKED FOR DEATH
LONDON.—The Daily Herald, a.
labor paper, says that an organiza
tion called “Fehme,” allied with the
German Nazi movement, has put Pro
fessor Albert Einstein, the world’s
foremost scientist and intellecttual,
on the death list, and has offered a
reward of a thousand pounds to any
one who silences him.
Einstein is president of the world
committee .to aid victims of German
Fascism.
The movemen against Einstein has
been brewing since his withdrawal
from Germany and his repudiation of
German citizenship after the inten
sive drive against the Jewish people
of Germany by the Nazi and Fascist
forces under the Hitler regime.
WAV •PEOPLE 8M1LE.
Cari’t .Rush Now.
■“Think *i’ ixxir old ’Arry bein’ sent
to ja'il! One o’ the fastest-workin’
bu"friars in the fame!”
“Ah, wefl, he’s takin’ his time now *'
-Tit-Bits (Landrj ).
Apo tciation.
i-’he—Do you like Shakespeare, Mr
Gammerdinger?
He—Veil, Shake’s peer iss goot, but
1 like Louie Schmidt’s petter.—Daily
Eagle (Brooklyn)..
Bawled C^it.
Mrs. Newlywed—These hen’s eggs
seem very small this morning.
Dealer—(tiart’t ihdlp it, lady.
Mrs. Newlywed—Well, let the next
ones stay ip the.nekt.alittle longer.—
Evening Bulletin (Philadelphia).
Squeeze Play.
Butcher—What da you want, my
boy?
Boy—Twenty cents’ .worth of liver
and 5 cents change. Father will bring
the quarter in the morning.—Chris
tian Science Montior.
Professor?
Mrs. Gnaggs—What are yaw doing
with that string tie daround your
finger?
Mrs. G.—You had me tie! it ‘there to
remember to mail .a letter :$er yau.
Mrs. G.—And did you mail it?
Mr. G.—You fargot to give it to
me.—Pathfinder.
Good Use.
A foreman had a great deal of
work to get through and was, un
fortunately, very short-hariaielL See
ing a tramp lying an the other side
of the road, he crossed over and said:
“Look here, do you want, any work?”
“What hind of wotic V’ tanked the
tramp.
‘Well,” said the foreman, “could
you do anything with this shovel?”
“Rather!” said the 'tramp, bright
ening up. “I could fry w nioe > piece
of bacon on it.”—Somerset ^Standard.
She—Every one soma 'to be here
for his health.
He—Yes, everyone but Hie proprie
tor.—Evening Bulletin (Philadelphia)
Takotna General £Stor
TAKOTNA,- .ALASKA
1
41
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jpiete. Stock* of. Merchandise,
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Fkw&'Frmfcs «Gandies ^Sofl/Dianks
tobaccos v Gig-ass ! Cifgaasets
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