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fhies the finest hard coal that has ‘ever been brought above ground. # # I 4 td Jns """ ‘blue coal‘ is colored at the mine M does not affect the coal in any way. ./Qr\}\/ ORDER FROM YOUR THE COLOR GUARANTEES THE QUALITY fiâ€"â€"'â€" l Ne c €njOY BETTSCELCOMIOTE “Vw.‘«‘ * . The .blue color mark is like the And ‘blue coal‘ is the cleanest coal you ever saw . . sterling mark on silver. It identiâ€" clean in your cellar, clean in your furnkce. All th impurities are washed and screened away. with a hormles s (Olor"ng that SO iust .phOflc Y Oour dCQle FOf ’bluc COG!’ in thc BVE you require. The color wil tell you that you are gettin« the greatest heating value tha money can buy. You ar« paying for ‘blue coal‘ com fort, so why not get it. Your dealer is a + blue coal distributor. PHONE YOUR ORDER NOW Listen in on the "Blue Coal" hour 5.30 to 6.30 every Sunday Afternoon, over Station CFRB Toronto Thursday, Oct. 8th, 1931 A Chequeâ€"Every Month of Every Year! Do you intend that your dependent loved ones shall look to you for the necessities of life now, but only for so long as you are alive to enjoy them, too ? Do you intend that they shall look to you for protection now, and afterwards fail them when they need that protection Of course, you don‘t. But your depenâ€" dents cannot pay the monthly bills on the income you might have earned IFâ€". Therefore, while you are insurable, give them the safeguard of a monthly cheque under one of the income plans of the The blue sterling m fies the f eéever been ‘blue coal with a h try Kellogg‘s Corn Flakes if you want to make the children‘s appetites stir‘! Crisp flakes of healthful corn, full of 1 flavorâ€"they are simply roronto _ Association CANADA A. W,. PICKERING District Representative TIMMINS â€" ONTARIO onfederation Life hard coal brought above is colored at i * Delicious with milk or cream â€"add fruits or honey for variety like the It identiâ€" that has _CORN EL A K ES Confederation Life Association. This inâ€" come cannot be diminished, diverted or lost through wnwise investment. It is the best permanent provision you can make for your loved ones. Then . . . if it is needed, THEY have it. And if it is not needed you have established a fund of savings to provide an income for YFOUR own later needs. Why not find out exact figures, without delay? A request to the address below will bring you full inforâ€" mation and monthly income calculator, without any obligation on your part. Write TODAY! ‘blue coal‘ is not a new coal . . it is the same faâ€" mous D. L. W. Scranton Anthracite that has been a favorite in Canada for more than fifty years . . the finest coal ever brought above ground. With ‘blue coal‘ blazing cheerfully in your furnace, you never need to force the fire to get the degree of heat you want . . . just check the drafts, feed the coal sparingly and enjoy perfect comfort." * * * THIS COAL IS THE FINEST OF ALL SCRANTON ANTHRACITE IT is such superlatively good coal that we trade marked it for your guidance and protection when buying . . . dyed it with a harmless blue dye so that you canrecognize it at a glance. THE BLUV E COLOR SAYS cleanest coal you ever ean in your furnkce. ind screened away. you require. lhe col tell you that you are the greatest heating val money can buy. Yc paying for ‘blue coal fort, so why not get it. It is sometimes said that the gold standard depends upon the right of any person or organization in a country to export gold from that country freely, for any purpose and at any time. This is undoubtedly true, but this requisite is really linked up with, and subsidiary to Number 2, cited above. This is easily understood, necause if you can‘t 1. The amount of gold obtainable for the dollar, or other unit of currency must always be the same. 2. The right to demand gold in exâ€" change for a currency unit must exist at all times. porary suspension of ‘the gold standard and its possible effects on the gold mines of Northern Ontario and Northâ€" western Quebec, Public Service had the following article prepared by an outâ€" standing Canadian authority on econâ€" omics. The Advance urges all to read it carefully. It gives a remarkably clear understanding of the whole situa« tion and is written in plain language and without the technical terms that so often are used ‘to confuse the issue. Public Service has conferred a general benefit by the publication of this arâ€" ticle:â€" The article in full is as follows:â€" What the Gold Standard Is Any country is said to be on the "gold standard" when the "currency‘" of that country, (usually paper money) is reâ€" deemable at all times, and upon deâ€" mand, in gold, on a basis of so much gold for a dollar, or a pound, or whatâ€" ever the name of the currency may be. It is to be noted that there are two requisites, and that both must exist at the same time in order to have a true gold standard: "So many people find difficulty in unâ€" derstanding the present situation, so far as the gold standard and other features are concerned, that any lucid explanation will be welcomed. . Such an explanation is given in the current issue of Public Service, the magazine issued by the Canada Northern Power Corporation in the interests of its cusâ€" tomers and friends. In view of the great interest aroused throughout Norâ€" thern Ontario in Great Britain‘s temâ€" How and Why the Gold Mines of Northern Ontario and Quebec Will Benefit Through Temporary Suspension by Great Britain of the Gold Standard. â€" Lucid Explanaâ€" tli10n of What the Gold Standard is, and Other Facts in the Case. Effect on North of Present Gold Standard Situation getting :luc that ou are S1ze Ww i THE PORCUPINE ADVANCE, TIMMINS, ONTARIO at home as long as wages remain the same. Only imported raw materials will go up, necessarily. This means that the British manufacturer should be able to offer his wares for sale in other countries at something like the previous price in British currency. Northern Ontario. t The effects upon Great Britain and International Commerce may briefly be summarized as follows: 1. It will give the British producer an added preference in world markets. As the pound falls, his goods will fall with it. They will do this without afâ€" fecting the labour costs of production at home as long as wages remain the same. Only imported raw materials will go up, necessarily. This means that the British manufacturer should be able to offer his wares for sale in other countries at something like the | _ is used only to an insignificant extent as a circulation medium in Canâ€" ada, but 5â€"dollar and 10â€"dollar gold pieces have been coined. These coins, which were first minted in 1912, weigh respectively 129 and 258 grains, 9â€"10ths pure gold by weight. This means that when Canada is on the gold standard the Canadian dollar is redeemable for 23.22 grains of pure gold. In England, the pound sterling was redeemable for 113 grains of fine gold before that country went off the gold standard. Why Great Britain Temporarily Abandâ€" oned the Gold Standard There are a number of reasons, both economic and psychological, why Great Britain has abandoned the gold stanâ€" dard for a six month period, but among them all, one is preâ€"eminent. It is this. Great Britain is at the same time an important creditor and debtor naâ€" tion. She owes a very large sum to the United States, and such countries as Germany and Austria owe her large sums. The sums which Great Britain has lent to Germany she has borrowed from the United States and to a lesser extent from France. This state of afâ€" fairs came about in this way. Great Britain‘s "credit" being good, she was able to borrow money at low rates of interest. This money she reâ€"lent to countries whose credit was not so good at higher rates of interest. During the last few months, conditions in Gerâ€" many and Austria became so bad that it appeared that they might become bankrupt, or at any rate, that they‘ would not be able to pay their debts‘ until long after they were due. Now: if this were to come about, the credit of England (who had lent Germany and Austria the money) would in turn be impaired. Therefore, those counâ€" tries who had lent England money, (in one form or another), pressed for payâ€" ment of their debts, with the result that large quantities of gold were beâ€" ing drained from the vaults of the Bank of England. This drain of gold was becoming so severe, that in order to potect its position, the Bank of England advised the Government that it was necessary to suspend, for the time being the Gold Standard Act. This means that you can‘t get 113 grains of gold for a pound note on deâ€" | mand, and consequently that gold canâ€" not be exported from the country. This explains also why the pound has fallen in valueâ€"nobody knows what it is or is likely to be worth in goldâ€"so it is being | pr In the United States there are five kinds of money: 1. Gold Certificates 2. Silver Certificates 3. Treasury Notes 4. Federal Reserve Notes 5. Bank Notes Strictly speaking, only the first is reâ€" deemable directly in gold, but just as in Canada, the others are as well, though an additional step is technically necessary to accomplish this. But for all practical purposes, Bank Notes (which are protected by deposits of gold, and other securities, in the Doâ€" minion Treasury) are just as good. The Bank Act requires Canadian Banks at all times to exchange their notes for Dominion Notesâ€"so that, with the necessity of an additional step, gold can be secured for Bank Notes when the country is on the gold standard. 2, Bank Notesâ€"$5, $10, $20 bills, etc., issued by each of our chartered banks. Dominion Notes (and gold, of course), are strictly speaking the only "legal tender" in Canada. They are the only form of money with which taxes and judgments may be paid, and, which, when Canada is on the gold standard, are convertible on demand into gold on the fixed basis. 1. Dominion Notes ($0.25 (shin plasâ€" ters), $1, $2, and $1,000, and larger notes for use only by banks. When a country has more than one kind of "currency‘" in circulation at the same time (like Canada, and the United States for example) the addiâ€" tional currencies in circulation must ultimately answer the two requirements stipulated above, if that country is to continue on the gold standard, though a number of intervening steps may be necessary to securing of gold for this currency., This statement will be maue clearer by an easy example. In Canada there are two kinds of currencies in circulation. demand and receive gold for ordinary currency (i.e. paper money) it is obvious that you cannot export it freely. Only imported o up, necessarily. he British manu e to offer his wa countries at somu were not nearly sufficient to pay out gold for every pound note outstanding. Whiat it all boiis down to is this, if any country, whether on the gold standard or not, wants to keep its currency from falling so low that, like the old German mark it becomes practically worthless, A second point of great imgportance at the present time is the statement of At the present time, the ratio of gold reserves in the Bank of England to curâ€" rency outstanding is just slightly over 40 per cent. That means that there are only 40 pounds worth of gold for every 100 pound note outstanding. Even if Great Britain decides to deflate the pound, when it returns to the gold standard, that is, if it decides to make the pound worth, say, only $4.00 inâ€" stead of $4.86 2â€"3, she will need a far greater gold reserve than she has at present to insure the stability of sterâ€" ling. This is easy to understand, for even if Great Britain determines that the pound should be redeemable by law in four dollars worth of gold, people will be disinclined to believe it if they know that the Bank of England gold reserves ling go the way of the old German mark â€"which through inflation (printing of marks without any gold reserve at all) became practically valueless. In the first place, though for the time being she will not give on demand 113 grains of fine gold for a one pound noteée, England is determined not to let sterâ€" Conditions today are but slightly difâ€" ferent. There are two reasons why the mines of Northern Ontario cannot sufâ€" fer as a result of Great Britain‘s temâ€" porary abandonment of the gold standâ€" price of gold, which had been $20.63 a fine ounce in 1918, rose to $27.48 in 1920. After this, prices fell slightly, but it was not till 1925 that the $20 level was again reached. This will equa: a considerable reducâ€" tion in terms of American currency; and it is with American goods, priced in American currency, that he must compete. 2. It may increase the purchase of some British and Canadian Goods in the United States. A universal <owering of the cost of Canadian and British goods is equivaâ€" lent to reduction in the American tariff. A tariff impost on an imported article is really as much a part of its cost are are the transportation charges. They all lump in together when the arâ€" ticle comes to be sold over the counter. So a reduction in cost in the country of production has precisely the same effect as a lowering of the duty. Thus the Americans are in the position of having lowered their duties on British and Canadian goods. 3. It will reduce wages for the purpose of exvort trade. Wages in Great Britain will still buy as much in the way of domestic goods, except as they are raised by various factors, such as foreign ingredients. But they will not cost the manufacâ€" turer for export purposes so much in terms of his foreign markets. This will give the exporting manufacturer the advantages he has seen and sought in lowered wages, without materially afâ€" fecting the wageâ€"earner. Beneficial Effect on Golid Mines The effect urtiin the mines of Northâ€" ern Ontario will be slight, but beneficial rather than harmful. Let us see what happened the last time Great Britain temporarily abandoned the gold standâ€" ard. Shortly after the outbreak of the war, and until April, 1925, Great Briâ€" tain was "off" the gold standard. Until 1919, however, the pound sterling was "negeged"; that is to say, by virtue of an agreement between the principal allied nations, and by passing a number of laws, the plound was prevented from falling below a certain value in dollars. We have a similar example today in the ‘"negging" of securities listed on the Montreal Stock Exchange. This is done to prevent undue speculation and conseâ€" quent panic. How did the gold mine operators fare while all this was going un? In the first place, we must remember that in those acute times, the export of gold from Canada was prohibited. But alâ€" though Great Britain was off the gold standard at the time, she was importâ€" ing gold from countries that were at liberty to export it. This in fact, was going on to such an extent that the In 1919, however, the artificial supâ€" ports were removed and the pound sterling fell rapidly till at one time it was worth just a little over $3.090 in terms of American money Aâ€".Yes, unless she wants her money to become valueless, like the old German mark. A nation must keep substantial reserves in its vaults. This gives other nations confidence in the money of the country that is not on the gold standard. The importance of gold to any country is well illustrated by Prime Minister Bennett‘s offer to pay for Canadian gold in American moneyâ€"a ten percent premium. Q.â€"lHow will Great Britain‘s temporary abandonment of the gold stanâ€" dard affect the mines of Northern Ontario? A.â€"If there is any effect it will be good. Great Britain requires more gold than she has now to give people confidence in the pound. She must therefore, continue to buy it. Last time Britain was off the gold stanâ€" dard, her demands for gold were so great that the price rose from $20. a fine ounce to $27.00. Q@.â€"Are the United States and other important countries likely to abanâ€" don the gold standard. A.â€"No. because gold is the only commodity that has all the requireâ€" ments of good money. It is durable, it is easy to ship from one place to another, it is easy to recognize and it is available in sufficiently large quantities to be used as money, but not in too large quantities to deprive it of its value. After a test of 115 years it has proved more satisfactory than silver, the price of which fluctuates too much. In order to prevent chaos in world commerce the medium of exchange must be stable in price, like gold, therefore gold will continue to be a standard for money in all important countries. @.â€"What is the Gold Standard? A.â€"The gold standard is an arrangement by which a country undertakes to redeem its currency at all times, and upon demand for a fixed quanâ€" tity of gold and to allow gold to be freely exported from that country. In Canada the dollar is redeemable for 23.22 grains of pure gold. @.â€"Why did Great Britain temporarily abandon the gold standard? A.â€"Great Britain abandoned the gold standard (ie., prohibited the exâ€" port of gold) because she wished to protect her gold reserves. Nations to whom she owes money were pressing for paymont, and in order to stop the flow of gold she refused to exchange the pound note for 113 ounces of fine gold. @.â€"Doés a nation that is not on the gold standard require gold? The Situation in a Nut Shell Prime Minister Bennett that Canada | kno will not abandon the gold standard. | Aat He has put this statement into pracâ€" | inct tical effect by paying Canadian gold ' to t producers in terms of American dollars, | atio which on the money exchanges are toâ€" | Was day worth about eight cents more than | Of i the Canadian dollar. This willingness | ard. to pay a premium for gold is further| If evidence of its necessity to any country | aba that desires to keep its money from | thin falling in value. WoOu The Future of the Gold Standard ovet Although, as a result of present econâ€" | as g omic conditions, and the tangled state | ons of the international debt situation, a | grea number of countries have temporarily | amc abandoned the gold standard, it is abâ€" | ant solutely safe to say that as far as the | to t important countries of the world are | any concerned, gold will always be the basisdo so. If you must economize, here is a healthy and deâ€" lightful way to do itâ€"serve these delicious and nourishâ€" ing Syrups. The great food value of Corn Syrup is definitely recognized â€"you couldn‘t eat a more healthy, energizing foodâ€"and unlike most "healthy"‘ foods, the family will simply love it. Serve these Syrups at every meal, They are econoâ€" mical, delicious anda so easily digested. If the nations of the world decided to abandon the gold standard, the only thing they could adopt as a substitute would be the silver standard. Look over the list of requisites for good money as given above. Silver does not possess ong single advantage over gold, and so great would be the confusion and chaos among the nations of the world resultâ€" ant upon any attempt to change over to the silver standard, as to ytreclude any possibility ‘of nations attempting to The commodities answering these reâ€" quirements are indeed fewâ€"in fact, the list soon narrows down to the metalsâ€" then to the precious metals. Platinum is out of the question because there isn‘t enough of it to act as money. That leaves go‘d and silver. For.a number of years, certain countries were on a silver standard (like India and China, for examp‘e), and some, like the Unitâ€" ed States had both standardsâ€"what is known as bimetalism. But the rate at which silver was being mined was increasing altogether out of proportion to the growth of the gold mining operâ€" ations, and the consequent confusion was so great, that finally, every country of importance adopled the gold standâ€" (4) Availableâ€"in sufficiently large quantities to serve as money, but not in too large quantities to deprive it of its intrinsic value. (1) Durableâ€"able to withstand cliâ€" mate and general wear and tear. (2) Portableâ€"easy to carry and ship from one place to another. (3) Recognizableâ€"easily told from another commodity of possibly infertor value. - of currency and the medium of internaâ€" tional tride. The gold standard was started by Great Britain 115 years ago, but it is not sentiment that will keep it as the standard in the future, but cold hard fact. Let us see whyâ€"what is there about gold that makes it so deâ€" sirable. To answer this question we must ask ourselves anotherâ€"what qualities must a commodity possess in order that it may serve as a basis for the exchange of other commoditises, ie., as money., It is very obvious that it must be: Send for our l‘a-_ mous Recipe Book. It contains nearly 200 economical Recipes chosen from 75,000 recelvâ€" ed from housewives throughout Canâ€" ada. This book took many months to prepare and every Recipe has been approved and tested by a famous Canadian dietiâ€" tlan. Mail coupon, Enclose 10¢ to corâ€" er cost of mailing.