The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Whether or not it was resognized as such at the time that was inflation. .__‘_Number of Times Since that day, every important curâ€" rency has bsen inflated a number of times. A dollar or a yen or a pound or a mark simply wouldn‘t buy as much of a man‘s time or as much of what he could produce in that time. Even that development wasn‘t too much for most of us. We could see that we had a gradual type of inflation and yet if he wanted to, at any time, individuals among â€" cculd go to the bank, demand and rezseive a edfinite number of grains of gold for our dollars. Fortunately, on this side of the Atlantiz, no large bank or government was ever embarrassed by someone collecting a quantity of currency representing gold to a larger amount than was held in reserve. Otherwise, people might not have had so much faith in the muchâ€"vaunted gold standard. This gold standard of which we used to hear so much incidenâ€" tally presupposed a value c‘ $20.57 per cunce. Whien the nation came to the point where there was not sufficient gold in quick enough cir:ulation to carry steadâ€" ily expanding trade, both internal and external and as a convenience as weoll, governments and banks began to issue paper money against gold which they held in vaults. It soon became recogâ€" nized that a bank or government could safely issue more pap@r money than it had in gold, since it was unlikely that everyone who had a note would come into the bank or to the government at the same moment and demand the equivalent in gold. When things got to the posint where currensyâ€"doctoring was considered the most certain means of jacking up or holding back industry and trade and cantrolu.ng commodity prices, the old gold standard idea began to become top neavy. There was a limit, it was dicâ€" covered, beyond which the issue of bank or government nctes could not go, if gold remained at $20.67. So the price of gold began gradually to rise until the United States took it up to $35 an ounce and pogged it there. Then things bkegan to happon which few of us have understood since. Notes which ‘had always been worth a given number of grains of gold suddenly beâ€" came worth fewer gains. Restraints cf almost every kind were put on dealâ€" ings in gold. In the United States for instance, it became an offence to possess Gold itself goes farther and farther from our â€"ken. â€" Our fathers used to have gold coins. A $10 or $20 gold piece gave them a sense of security such as ncthing has been able to since. The matter of currency was relatively simple with gold in the land. It simply repreâ€" sented, in a small package, the comâ€" modities or services which others had for sale. Its value was indestructiple. Governments and Their Methods in Regard to Gold government‘s action in taking over conâ€" trol of foreign exchange did not come until a few days before war was declarâ€" ed. Great Britain‘s timing of a similar action was parallel. Sweden is preparâ€" ing, no doubt. Foreign exchange and gold are tied up so closely together, chiefly through the United States that in the layman‘s mind they become two words for the same thing. Foreign exchange, most of us believe, is a credit Ealance of one kind or another which can be translated freely into any currercy in the world and hence into any of the world‘s goods. United States recognizes noâ€" thing, in principle, as payment except gold. Hence the tieâ€"up. gold notes of the type which guaranâ€" teed payment in a set quantity of gold. In Canada the government took over all dealings in gold, from the mines. A maze of conflicting theories from which we have not yet emerged, began to blossom. Bankers told usâ€" and we still believe themâ€"that only Canada‘s gold production enabled us to come through the depression (or did we ever get through it?) without defaultâ€" ing on those debts of ours which are payable in foreign currencies. Can‘t See It j (From Rouynâ€"Noranda Press) Anoither country has put gold bevond the reach of even its own national banking institutionâ€"Sweden,. No imâ€" portant nation in the world now allows either its citizens or any but its direcst agents to deal in the predlous metal. Not that Sweden, being in one class or another, has a very important.influence on the rest of the worlk!, but her govâ€" ernment‘s action last week serves to emphasize once again the peculiar position of gold, a condition which beâ€" comes more and more complex eath day to those who takse it scsientifically and seriousliy. Sweden also f! world economics States. Her cit strained from de change, just as We did know this: longer take our bank local chartered bank get any gold. We v are, that our currenc; But we can‘t see it, c possess newlyâ€"mined miist be pretty thing: Some people profited from the price of gold, but the ba neld some as reserve agal; issured didn‘t. The governm ordered them to turn it â€"0 Bank of Canada at the oid : banks kicked a little, but dic could busy some of it back if issured dixin‘t. The government simply ordered them to turn it â€"over to the Bank of Canada at the oid pricse. The banks kicked a little, but did so. They could busy some of it back if they wantâ€" ed toâ€"up until a yvear ago. But it was no use to them; their privilege of issuâ€" ing notes had been taken away at the same time. Individuals were permitted by law to go to Ottawa and demand something like 400 ounces of gold, payâ€" ing for it at about $35 an ounce, of Peculiar Position of Gold in National Economy. y is backed by gold can‘t touch it, can" d gold coins, whict aat we could no tes to either our â€" to Oitawa and 1€¢ e rise in 3s, which currency etn of Our Con â€" Last year, it seemed as though itl might be a good idea for Canada to return, to issuing gold coins, at least a million dollars worth a year, just to let Canadians in on the fun of holding some in their hands again for a while. There were Oobjections. All our gold was going to the United States and was being treated as a commodity. We were receiving good,; or paid off bonds for it. Hence the national bankers were actually glad to get as much gold out of the country as possible. It made trade look better. | We still keep gold at Ottawa, and the Bank of Canada intends to keep it : there. Under our present economic system and with gold at $35, there is sufficient at Otbtawa to provide for all ‘the currency Canadians can use, even | in good times. So the bank says. ‘The result is that we continue to export physically, or earmark for export, all cur current gold production. The more ) we export, the mre goods we canb uy | from abroad. For the present, the easiest thing to ;do mentally with gold is look upon it as a commodity and strictly as a comâ€" | modity. The only thing that can hapâ€" pen, in that case, is a sudden lack of demand for the metal. Somehow or "I know itâ€"I know it," responded the great one, waving him away. "I have a reputation for being a patient and conâ€" siderate man."â€"Globe and Mail. south to cut four veins indicated by diamond drilling. _ Mineralized quartz stringers have been cut in sinking operations. A clerk in a large office ventured to approach the manager with a plea for promotion. "I‘ve ‘been in my present position since the time you became the manager, sir,‘ the clerk began. Shaft at Edgecreek Gold Mines, Beattyâ€"Munro district, is now down 50 féet on way to initial objective of 115 feet. Station is to be established gt 100 feet and crosscut driven north and cther most of us still can‘t see gold becoming unpopular, ar having it placed in the same class as much overâ€"producâ€" Edgecreek Gold Shaft Now Down to Fifty Feet course. We have no idea wlio bought, but at least the liberty of doing so was there and, to a certain extent, this gave creden*se to the theory that Canadian d icommodities as wheat, coffes, zinc and rubber. currency was, indeed, the equivalent of gmd. That privilege is now gone and the only way left of getting gold is to hy jewelry. This method would probâ€" ably cost $100 an ounce, which seems a bit steep. Dodging the Point 1940 Ford Trucks are out in front, doing the jobs of Canadian truck and commercial operatorsâ€"just as they have in the pasti! The record‘s open for all to read:â€" Ford Trucks have led every other make of truck in Canadian sales by a wide margin for exvery one of the past 5 years, and during 21 of the last 25! The successors of those historyâ€" making trucksâ€"these husky 1940 unitsâ€"are the finest Ford Trucks ever builtâ€"with power, ruggedness, reliability and cconomy in bisg measure. Ford Trucks move heavy loads faster and more cconomically, because their Yâ€"8 engines develop high torque over a wide range of The tragic part about the whole thing is that help was practically at hand when the gallant little democracy was forced to concede to the demands of her ruthless neighbour, And, in regard to the matter of assistance, Sweden and Norway have a lot to answer for. By the terms of their pact with the League of Nations they were bound to permit the passage of troops across their terâ€" ritory to aid the beleagued nation. But they were too afraid. One can realize that the two Scandinavian nations were in a miserable position. The presence of Allied troops on their land would not haveb een liked oy Germany inagmuch as it would imperil her chief naturally would not have been pleased. It was all or nothing and they were forzed to choose. Whether or not There is peace in Finland today for the first time in over 100 days, but there is little rejoicing, It is too much like the peace found by Poland â€" the peace of the grave. «* #4 # «# *# # *+ # #% #@ Ca *4 estes *# + #+4 # L #4* @ 4 Â¥#* *# "® *+* # # ## * + # ind nd*as*sa*, # * 0“0“0"0“.":“:“.‘ Showrooms Schumacher Highway h4 08 04420244 4*..*..* .\ooooooooooooooouo\ooco’coooocooootooo.oooooo 00“00».000"00 ‘a« The Red Shield of the Salvation Army is the cign of service to the solâ€" diers. The picture shows the "Tea Car" at Exhibition Park Training Camp, Toronto. Similar tea cars are in service at other centres her* and overseas. : % SIFTING THE NEWS By Hugh Murphy #. ..0 #% # #+ *+ , #*, 44. 447 + esfe+ un * 2 2 22*22%, .# .“.“.“ .“.“. .%__®. * “.“‘“.“.0 McDowell Motors Limited x 4 ) e " m s "a 29 19. .90 .# b.“.“’“.“.“‘“.“.“.“.‘ Do you operate heavyâ€"hauling or light delivery units? Ford Trucks can handle over 95% of all jobs. The Fordâ€"Mereuryâ€"Zephyr Dealer invites you to see him and arrange an "onâ€"theâ€"job" test with the unit your work calls for,. Prove Ford ecconomy to your own satisfaction before you spend another truck dol A railroad to be built during 1940 will link the white Sea, within northern Hanko, naval hase on the southwest and the surrounding peninsula are taken over by the Soviet on a thirty years lease for payment of $750,000. Part of the Sredni and Rybachi penâ€" insulas in the far north on the Arctic Ocean go to Russia as do certain isâ€" lands in the Gulf of Finland and great slice of northeastern Finland. The shellâ€"wrecked but still unsurâ€" rendered city of Viipuri goes as do all the shores of Lake Ladoga and three towns. By the harsh terms of peace Finâ€" land‘s defence bastions on the Baitic and Arctic seas are wrested from her. The whole fortified Karelian Isthmus goes to the soviet along with the fortiâ€" fied Mannerheim line in front of which so many Russian and Finnish lie dead beneath the trampled snows. ed for so Iong and so loudly, has very nearly evaporated. The peace can hardly be construed as anything but a partial victory for the Soviet. Still, if military prestige is valuable it has been a pyrrhic victory for the USS.R. Respect for the miliâ€" tary prowess of which the Sqviet boastâ€" source cof iron ore in Sweden. Russia, their choics will, in the long run, benefit them remains to be seen. 88,000 Canadian workers and their dependants benefit because Ford trucks are made in this country. When you buy a Ford iruck. more of vyour money stuauÂ¥s in Canada,. Ford Trucks are Made in Canada All mention 0o ignored, as well as the set state may demand goods s the souls never," and "the Russia to the Guif of Bothnia, west of Finland, the railtoad bisecting Finâ€" land above her narrow waistline. Free transit must be allowed Russian goods acsross the Petsamo Arctic area from Russia to Norway. Finland is not to be allowed the right to maintain any warships or submarâ€" ines in her Arctic waters with the ex« ception of a small coast guard fleet. Washington, March movement to advance funds for the rehabilitation of Finland appeared today to be gaininx grcund in the United States Senate. Chairman Key Pittman, of the Senate foreign relations committee, said he is considering asking Congress, to vote $10,000,000 for Finnish relief, The money would be spent through the Red Cross. SENATOR PITTMAN URGES HELP FOR FINNISH PEOPLE ‘"Sometimes I think we boast too much," said Mr. Hennéssy. (From "Mr. Dooley at His Beést," by Finley Peter Dunne, Scribners, 1938.) "Well, I didn‘; intend to get excited over the Patrick‘s Day, but somehow or other ivry time it comes arâ€"round I fee} like gcoin‘ up on th‘ rocof an‘ singin‘ Aboo‘ so all my hear. I don‘t know why." "Mayk2," said Mr. Hennéssy, "‘Tis beâ€" causeâ€"ye‘re Irish." "I hadn‘t thought iv that said Mr. Dooley. "P‘raps ye‘re right. It‘s someâ€" thing I nivir havs been able to get cver. Bs this time it‘s became an inâ€" Dooley. "P‘raps ye‘re right. It‘s someâ€" thing I nivir havs been able to get cver. Be this time it‘s become an inâ€" cur‘ble habit. Annyhow ‘itis a good thing to be an Irishman Because people think that all an Irishman doss is to laugh without a reason an‘ fight withâ€" tut an chjick. But ye and I, Hinnissy, know ‘these things ar‘re on‘y our divarisians. It‘s a good thing to have pecyple size ye up wrong whin they‘re got ye‘re measure ye‘re in danger." "Well," said Mr. Dooley, "It‘s on‘y on Patrick‘s Day we can hire others to blow our horns f‘r us." ITry The Advance Want Advertisements, 4/\/0 Annyhow ‘tis a good Irishnman Because people an Irisiman doss is to a reason an‘ figzsht withâ€" Phone 415 and 440 Explained month? Why must we ask ocvery da; for our daily bread? Little Ednaâ€"Why wouldn‘t it do to| Older Sisterâ€"8o as to have it fresh pray for our bread once a week or once â€"Edmonton Bulletin. TIMMINS REPRESENTATIVES A. W. PICKERING, 51 Toke Street â€" J, M. LORRAIN, 159 Balsam St. 8 ’ 4 t HEAD OFFICE Association Policies. Should you die before reaching retirement age, the proceeds will help to provide for your dependents. Remember, the earlier you start, the easier it will be to provide for your old age. When a Confederation Life representative calls upon you, consult him. He is trained to advise you. onfederation Life Nail down some of your present prosperâ€" ity. Nail it down so that in later life, you will have a Guaranteed Monthly Income from the earnings of your most productive years. You can do this conveniently and adeâ€" quately by means of Confederation Life