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In the House of â€" Hon. Mr. Rhodes, not only gave a st Canada will on gold, but also clearly why this wa. good business for planation will be cl cept, perhaps, Mr. C leod, Alberta, who House of Commons ridding his mind 0o notions that seeme facts of the case. the report of the 1 Hansard, the officia Mr. RHODES :; I | and as firmly as : permit, that there favouritism so far MHon. Mr., Rhodes Makes Statement in the House of Commons Explaining the Advantages of Canada Controlling Its Gold To Continue to Pay the Premium on Gold BRANCHES THROUGHOUT CANADA AND OFFICES IN NEW YORK AND LONDON nsc y ue ooo mc an zen PAGE EIGH‘T Letters of Credit and Travellers‘ Cheques issued by The Dominion Bank are honoured in United States, Great Britain, Continental Europe, and throughout the world. Our nearest branch manager will gladly arrange your requirements. Consult him. Roses Free Saturdayâ€"â€" It is desirable when travelling abroad to carry Travellers‘ Cheques and Letters of Credit rather than any considerable sum of cash. Apart from the extra risk it entails, Canadian currency catried abroad involves exchange, with consequent delays and inconvenience. WITH EDWARD G. ROBINSON, BEBE DANIELS, ALINE MacMAHON, JOBYNA HOWLAND The epic story of a man who was made by silver and ruined by gold. Surging from the savage days of Empirt, on to the roaring present. Edward G. Robinson‘s Masterpiece. Sportâ€""TROUT FISHING" _ Addedâ€""OLD SPANISH CUSTOM" UNTVERSAL NEWs Midnight Show, Friday, May 12%th, at 11.30 p.m. special Matineeâ€"Saturday, May 13th, at 12.15 p.m. CHILDREN 10c WITH BEN LYON, BARBARA WEEKS, WILLIAM V. MONG AND ETHEL KENYON Chillsâ€"â€"thrills and mystery aboard a Pullman bound for Frisco. Laurel and Hardy Comedyâ€""HELPMATES" Travelâ€""KASHMIR TO KHYBER" MQOVIETONE NEWS WEDNESDAY and THURSDAY, MAY 10â€"11 (Superâ€"production) WITH FREDERIC MARCH, ELISSA LANDI, CLAUDETTE COLâ€" BERT, CHARLES LAUGHTON AND 7,500 OTHERS The biggest thing that has ever happened in pictures! The turbuâ€" lent intrigues of Nero‘s court! The thrilling, gripping, spectacular secenes of the Coliseum! The passionsâ€"lovesâ€"hates of ancient Rome! UNIVERSAL NEWS MATINEE DAILY AT 2.30 P.M. Eveningâ€"7.00 p.m. (continuous performance) Complete Change of Programme Every MONDAY WEDNESDA Y FRIDAY WITH ADOLPHE MENJOU, MAYO METHOT AND sSKEETS GALLAGHER A mystery thriller lifted from the records of one of the soundest detective minds of any country, Comedyâ€""LADIES NOT ALLOWED" Addedâ€""BLATK SHEEP" PARAMOUNT sSOUND NEWS Midnight Show, Tuesday, May 9th, at 11.30 p.m. GOLDFIEL DS T HE DOMINION BANK THURSDAY, FRIDAY AND SATURDAY MAY 4â€"5â€"§6 (Three Days) FRIDAY and SATURDAY, MAY 1: sShipments "THE SIGN OF THE CROSS " MONDAY and TUESDAY, MAY 8â€"9 Midnight Show, Friday, May 5th, at 11.30 p.m. SPECIAL MATINEEâ€"Saturday, May 6th, at 12.15 p.m ADMISSIONâ€"ALL CHILDREN 10c WORD TO TRAVELLERS . . . about Funds ots M.P. 1 appeared ) have diff 19â€" F. A. Burt, Manager T URES AT THE THEATRES ©@ diffi prec wa ESTABLISHED 1871 Hi A BRILL_OF DIVORCEMENXNT*~ WILD GIRL®" HELL DIVERsS" OXE wWAYC PAsSsSAGE" 1J 11 a t 1F IPpAIILY, liKe anyone eise, can get thert is excess gold so far as the ment is concerned by paying the im, and in no other way. My riend does not suggest that the ment should pay a premium for ad then sell it at par. COOTE: No. I never suggested ie government should pay a preâ€" for gold; that was the governâ€" own idea. I have often wonâ€" inder what authority that action Perhaps the minister would : by what authority the governâ€" ned. The banks are not selling is a merchantable commodity; re transporting gold for the purâ€" f meeting obligations in foreign lies. As I said before, these obliâ€" might be obligations of the of the provinces, the cities or 1Y we Gicg gold in As a 10 me down h th anada in atter of jes, the cities or My hon. friend alities should be here and get gold of the premium. 10ut the slightest st offensive t» my 380 prep the¢ 10Â¥ Mr. COOTE: I think perhaps the minister misunderstood my last quesâ€" tion. What I should like to know is why the government does not allow the mining companies to sell their gold freely to the highest bidder. Why does the government insist that the gold be delivered to the mint in Ottawa? In that connection may I point out this fact, that toâ€"day there are gold mines in Canada which are operated at a modest profit, and in some cases at a very bare profit, which would not be able to operate at all if they had to sell their gold without a premium. That has had a very marked effect in stimuâ€" lating the development of the gold inâ€" dustry in Canada. {has had the additional effect of stimuâ€" lating the development of gold in Canâ€" ada to such an extent that the Canaâ€" dian gold industry toâ€"day is the second in the world. It has given employment to many thousands of men, and my hon. friend must remember that to the extent that mining is made profitable not only do we bring about the emâ€" ployment of many men and provide a market for large sections of our counâ€" try, but to the extent that they make money 12 per cent of that profit comes to the exchequer of Canada from the company itself Then, when the diviâ€" dends go to the individual shareholders, we get another slice of the profits by way of income tax. So, taking the baâ€" lance all round, it does seem to me that we have profited very largely by the development of the gold industry in Canada. Mr. RHODES: There is a very great advantage to the government. As a matter of fact the stimulation of the production of gold in Canada has been one of the saving factors in the preâ€" sent situation. It has not only enabled Canada to meet her obligations in forâ€" eign countries without undue strain and undue pressure which would be created if we attempted to buy foreign curâ€" rencies with our own paper money! it has had the additional effect of stimuâ€" lating the development of gold in Canâ€" ada to such an extent that the Canaâ€" dian gold industry toâ€"day is the second in the world. It has given employment contemplate the confiscation of other kinds of property. Until that time comes there is nothing to do but pay the current rate for gold. Mr. COOTE:;: What advantage is there to the government in paying this programme at 12.01 a.m. ‘The Crime of the Century‘ also Tom Keene in ‘The Chevyenne Kid Mr,. 1 nNiave no that Canada will continue premium on gold, I hope i lose its sanity to the ext doing so, and until we are ; pass a statute, confiscating not see why the practice shc Is Bridge a game or a disease?, Why do your friends go crazy over contract? You‘ve read about Bridge murders, fights, divorces . . . now see the first great Bridge romance. Comedyâ€""SHERLOCK‘sS HOME" _ Cartoonâ€""PICANNY BLUES" Addedâ€"*"NANNY*" WITH JEAN HERSHOLT, WYNNE GIBSON and STEWART ERWIN Thrillsâ€"Chillsâ€"as murder stalks through a night of mystery Comedyâ€""DON‘T PLAY BRIDGE" Addedâ€""BE LIKE ME FOX NEWS ment pays a premiu whether it is the int paying that premium. Mr. RHODES: 1 ha WEDNESDAY and THURSDAY, MAY 10â€"11 " GRAND SLAM " WITH JOHN WAYNE Serial«â€""JUNGLE MYSTERY" Episode No. 6 Cartoon "THE BIRTH OF JAZZ" METROTONE NEWS Addedâ€""MANHATTAN MEDLEY FOX NEWS Midnight Show, sunday, May 7th, at 12.01 a.m.â€"Showing Double Feature Programmeâ€""Hello Everybody" also John Wayne in "THE TELEGRAPH TRAIL" Comedyâ€""WHAT PRICE TAXI Mr. RHODES: ~I may say to my hon WITH UNA MERKEL, WILLIAM COLLIER JR., Z You‘ll be bafflied! Amazed! Thrilled!â€"You‘ll gasp it.â€"This perfect mystery drama. MATINEE DAILY AT 2%.39 P.M. Evenmgâ€"7 00 p.m. (continuous performance) Complete Change of Programme Every MONDAY, WEDNESDAY and FRIDAY NEW EMPIRE FRIDAY and SATURDAY, MAY 12â€"13 "THE CRIME of the CENTURY " wWEDNES. AND THURSDAY, MAY 3â€"4 "THE SECRET WITNESS " Midnight show, sunday, M WITH KATE SMITH, HUNT BLAKE AND LILY SMITH See and Hear your favourite radio star, Kate Smith, the songbird of the South. L NEWS Comedyâ€""TOO MANY HIGHBALLS" sSportâ€""CATCH ‘EM YOUNG" nued FRIDAY AND SATURDAY, MAY 5â€"6 " HKELLO EVERY BODY " " THE TELEGRAPH TRAIL " MONDAY and TUESDAY, MAY 8â€"9 MAY MAY MAYX MA Y MA Y MA Y WITH PAUL LUKAS AND LORETTA YOUNG the If w premium for gold; anc the intention to ‘se, we might @4 confiscation of y. Until that thing to do bu "THE CHEYENNE KID" "LUXURY LINER®" *WHAT, NO BEER?" *TERRGR TRAIL" ‘sMOKE LIGHTNING®" ‘FROM HELL TO HEAVEN ire prepart With every 25c spent at this store you will receive a rose. Spend one dollar and get four roses. The Goldfield Drug Co. Ltd. THE PORCUPINE ADVANCE, TTMMINS, ONTARIO l14thâ€"Showing double feature nt nfis= | find well | would ther | all to time | contin Cartoonâ€""RIDE HIM BOSKO®" do continue the practice of having gold with which to meet our commitmeuts.@ Mr. COOTE: It is difficult to underâ€" stand why we would have to pay a‘ greater premium; we are paying whatâ€" ever premium exists on New York funds at the present time, so surely there would be no difference. May I point out that although England went off the gold standard in September, 1931, the Chancellor of the Exchequer, Mr. Snowâ€" den, said it would not interfere with the free gold market, that gold would be ; allowed to be freely bought and sold on | the London market as had been the case previously. I have been trying to find out why the government of Canâ€" ada adopted this other policy of comâ€" mandeering all the gold, but paying certain rates of exchange for it. I want to find out if there is any advanâ€" tage to be derived from that practice. I Mr. RHODES: If my hon. friend has not understood my explanation all I can say is that I am sorry. I have given an explanation which, to my mind at all events, is as clear as an exâ€" planation possibly could be. I have pointed out that there is a very disâ€" tinct advantage to Canada in being 'able to secure gold within Canada, payable at the New York or London rate as the case may be, but payable in Canadian currency, with the gold deâ€" liverable here. If the companies shipâ€" ped their gold freely to London or New York, as the case might be, and the government had to resort to the purâ€" chase of gold in New York or London to meet its obligations, exchange wouldl stiffen and we should have to pay an | appreciably higher premium in purâ€" | chasing foreign currency with our own | Canadian notes. It seems to me apâ€" parent that the advantage is very markedly in favour of the present suvstem. Montreal Star:â€"When the woman motorist was called upon to stop, she asked indignantly, "What ao you want with me?" "You were travelling at 40 miles an hour," answered the officer. "Torty miles an hour? Why, I haven‘t been cut an hour," said the woman. "Go ahead," said the officer. "That‘s a n>w one on me." mines to se to resort t New York 0o be. to meet the case may b dian currency. mines to sell th friend that the important adva ing able to se York price or ; gold market, that gold would be to be freely bought and sold on London market as had been the previously. I have been trying to hat there seems to me a very G # h it advantage to Canada in beâ€"| Uuessing as to the > to secure gold at the New i# ice or at the London price, as EfiQCtS Oll Mll’llng may be, but payable in Canaâ€" rrency. If we permitted the Suggestion that Under the Plans for ) sell their gold freely and had Increase in the Value of Gold t to the purchase of gold in There will be an Enormous ‘k or London, as the case might Boom in the Gold Mining eet our commitments we would Industry, rain upon our exchange which | ean a higher premium, so it is "What effect will this or that have ur advantage that we should on Canada and particularly on the the practice of having gold | 8old mining industry?" This is a quesâ€" ich to meet our commitments.|tion often asked by the common man. TS and love | _ Now to take a high grade mine into consideration. . Teckâ€"Hughes springs into mind because it is one that its | shareholders have worried about. In: jits fiscal year ended August 31, 1932} | this mine received an average of $23 40 per ounce and had costs of $9.25 am ’ ounce, leaving an operating profit, after depreclation of $14.15 per ounce. Raise : the gold to $30, leave the costs at $9.25, landapromolszozsanomcebmade On the mine‘s normal production of 290,000 ounces, this would work out to ’ Howey Gold Mines, because it is an ,est,abli-shed mine and profitâ€"maker, beâ€" cause its costs are trending downward, because its milling tonnage is being inâ€" creased this year from 900 to 1,300 tons a day, is another example of the class of low grade mine that would be greatâ€" ly benefited by a higher price for its products. Last year it made $1.40 per ton on gold at $23.20 per ounce. On $30 gold the per ton profits would about | double. Beattie is a prime instance of how the higher price would work benefits. This mine comes into production in late May on about a $4 grade, and its costs may be around $2.50 a ton, after the kinks are ironed out; $30 gold would raise its gross ore value to $6 and make the indicated profit $3.50 per ton. On the initial 800â€"ton ibasis the indicated annual operating profits would jump overnight from $432,000 (at $20.67 an oz.) to $1,008,000. As the Beattie oreâ€" body is of sufficient size to warrant building up to a capacity of 5,000 tons a day, a conception of what revaluation of gold would mean to large tonnage mines may be readily calculated. At $30 gold in this case the profit would run to $6,000,000 a year before writeoffs and taxes, provided the costs did not rise, and it is well known that larger tonnage tends to lower costs, or should. Incidentally, it is the Beattie official aim to build up to 5,000 tons in a two to threeâ€"year programme; travel toâ€" ward the objective may be speeded up, which would give a tremendous contriâ€" bution to the gold production of Queâ€" bec, and Canada, and distribute unâ€" imagined profits among Beattie‘s forâ€" tunate shareholders, 1 Especially assisted by a rise in the price of gold would ‘be the shareholders of the low grade mines, for they would be lifted out of the doubtful class into the realm of profitâ€"making certainty. Take, for instance, a mine of $4 ore, on which could possibly be made a proâ€" fit of $1 a ton. A price of $30 for gold would make this ore worth approxiâ€" mately $6 a ton, and increase the proâ€" fit to $3â€"the gain in profits of 200 p.c. holding good until such time as costs rose. An outstanding feature of the pricâ€" ing of gold upward would be the imâ€" petus that would be given to the mining of lower grade ores in the large estabâ€" lished mines. We could expect as an outcome the increasing of mill capaciâ€" ties and of mining facilities in order to break wider stopes, to secure the lower grade, marginal material, Also there should come the opening up of stopes in material hitherto not of pay grade. Repricing of gold to say $30 an ounce, Canadian would bring, overnight, proâ€" bably 100,000,000 tons of marginal maâ€" terial into the ore class in Canada. The increase to employment and busiâ€" ness, on just this feature, would be enormous. The stimulation that would come all along the line might be confidently expected to double the working activity of the gold mining industry. Furtherâ€" more, it would bring, overnight, the $100,000,000 a year production which this country had formerly placed as a tenâ€"year objective. The business of promoting new mines fvould take on thrilling proportions. New strikes, and ground in favourable areas, would at once assume heightened attraction; the prospect that would be spread before the admiring gaze of the North Counâ€" try and before shareholders in the South would be exciting indeed. Until it is definitely known at what price gold is to ‘be set, provided of course that restabilization of exchange leads to a higher price for an ounce of the metal, the purpose of illustrating how benefits could be directed to the various Ooperations can be best served by instancing a few. The figure of $30 an ounce is taken for easy calculaâ€" tion and not because it may emerge as the new level, for some think it will be a litkle less and some more. Great stimulation will be given to the business of opening up new low grade deposits, although it is a delusion to think that only the low grade deposits are going to be materially affected. Mines with higher grade gold content will enjoy remarkable benefits. In all probability, the gold mining industry faces a period of unparalleled activity and prosperity, with profits beâ€" yond all former imaginings until such timeâ€"if such time ever comesâ€"when rising costs materially reduce the gains. Canadian gold mines see their proâ€" | to say : duct being sold this week at $26 an| ment ai ounce, plus, the highest on record. The| ously w prospect of a still higher price through | ation, b world revaluation of gold looks stronger | are prc day by day and opens up an intriguing| vinces | vista. taxatior "What effect will this or that have on Canada and particularly on the gold mining industry?" This is a quesâ€" tion often asked by the common man Here is the guess made by The Norâ€" thern Miner:â€" abertante ies snn oi ale Te dn ons a abe dan on dn se 42 e 0 en ts oo n uts a t us te oo 4200 45 e 60 Blairmore Enterprise:â€"The average man is like a match if he gets lit up, he loses his head. is that leovels will be return to those of 1927â€"1928. There was ncthing in those years in the way of high costs to impede gold mining or lessen its atâ€" traction. The gold miners have been | receiving high wages, probably 50 p.c. above the industrial amverage of the country, and prcbhably double the averâ€" aze wageâ€"carner‘s return. The miners at Cobalt is to go into force on May 16th and continue till Septemiber, unâ€" less action is taken in the meantime to repeal the byâ€"law, this suggestion being made in some quarters. Halleybury and New Liskeard are also divided on the matter, and without the concurâ€" rence of these towns Cobalt‘s adoption of daylight saving will not be very effective or practical. Liskeard of trade has approved the daylight saving idea, though the town council tied on the vote. Haileybury did not reply to two letters from Cobalt in the matter, so there is no particular enâ€" thusiasm for the scheme in Haileybury. Despite all this, the reports say that Cobalt, Haileybury and New Liskeard will all adopt daylight saving for the summer. Cchbalt has again adopted "daylight saving," so called, but the town is badly divided on the question. The decision of council was not unanimous, two of the councillors being against the idea. The chairman of the public school board also protested against the scheme and stated that the public school board would continue to operate on standard time irrespective of any action of the ccuncil, The daylight saving scheme of expense, such as dynamite and steel, have not dropped as far as the general commodity index, and increases in these items will probably be only nominal. Power, which is next to labour as a chief expense, has a fixed rate. Reâ€" viewing the items of cost of producing bullion, nCthing looms up as likely to s2riously hamper a pericd of high proâ€" fitâ€"making in the gold mining fields should the expected repricing take place. One operator does not expect, at the highest, â€" more than a 15 inâ€" crease in costs. COBALT BADLY DIVIDED ON DAYLIGHT SAVING PLAN can hardly in wages, expense of Some people are afraid that costs will rise so rapidly that the gains to the mines arising from the revaluation of gold will be speedily reduced. This notion does not stand under analysis. The strongest immediate hope of those who expect to raise commodity prices To the Ontario government the reâ€" valuation of gold might prove a saviour, in that unexpected uses for Abitibi Canyon power would quickly open up, through the bringing into play of new gold mines. The Matachewan @Area, now on the edge, might be pushed across the line into the pay class. The new Hearst area, with its indications of encrmous widths of moderate grade material, as well as more moderate widths of high grade, might also prove a large indirect taker of energy from the Canyon. The advisability of Abiâ€" tibi promises to be an outstanding issue in the coming provincial election. vinces taxati furth«t Hugt divid Dy an the o1 U All John W. Fogs Ltd. ITM n exchange premium that brougnt ounce to above $23 on the average. More Taxes for Governments 1e provincial governments that now v large taxes from gold mining in ario, Quebec and British Columbia, ay nothing of the Federal governâ€" t at Ottawa, stand to gain enormâ€" y without changing of rates of taxâ€" 1, because of the larger profits that promised. Especially would proâ€" es be helped because the rate of tion advances as the profits move dow Y ard SCHUMACHER Phone 725 There never was a better time than righi now for construction work of any kind. No matter how small or how large your project is, you‘ll find it to your advantage to start work immediately. has again adopted "daylight o called, but the town is badly n the question. The decision 1 was not unanimous, two of illors being against the idea. irman of the public school helped bec ridvances as ito the milli har 00,000 a er $1 8 iTnet lcok in the way of high costs to i mining or lessen its atâ€" he gold miners have been gh wages, probably 50 p.c. industrial amverage of the 1 prcbably double the averâ€" irner‘s return. The miners lcok for any great increase nd labour forms the chief mining. Other large items such as dynamite and steel, opped as far as the general ndex, and increases in these well as more moderate grade, might also prove t taker of energy from The advisability of Abiâ€" to be an outstanding ming provincial election. ‘ are ‘afraid that costs dly that the gains to the from the revaluation of rom goid ind British lliOns a year. government the reâ€" ight prove a saviour, 4 uses for Abitibi argt lally the pt erating profits, after taxes and plus, thus endâ€" whether Teckâ€" pay its present share produ MHead (Orffice and Yard TIMMINS, ONT., Phone 117 ANn ang# ught las| and Huntingdon Gleaner:â€"Clarence Evâ€" ans, working in an isolated cil field near Artesia, NM., heard faint sounds of music. Then heard someone say, "This is Witchita, Kan." Investigation proved that an 85â€"foot steel derrick was acting as a radio receiver. ‘"‘Provincial Constable H. V. Allsopp, who does traffic duty in the T. N. O. area, has one cf the longest "beats‘" ever given to an officer of the law. His territory ranges from Temagami to Yorkston on ‘the Ferguson highwayâ€"a stretch of many long millesâ€"and it also includes sidercads such ias the Elk Lakeâ€"Gowganda rcoad and cthers. That‘s a lot of ground to cover. Of course, violations of the Traffic Act don‘t happen very often on some of the side areas under his eyeâ€"the Elk Lakeâ€"Gowganda rcad, for instance. It is on the Ferguson highwayâ€"thne great traffic artery of the Northâ€"that the motorcycle man is kept busiest." PROVINCIAL TRAFFIC COP HAS UNUSUALLY LONG BEAT Timmins The "Roving The Northern Nows la is yours with Slendor Reducing Tabâ€" lets, the new harmless treatment for excess fat. BRANDRAM = H ENDER%HYIX from May 15 to May 15"" only Choose your bonus from any Bâ€"H leading product. PAINT NOW! with Bâ€"H proâ€" ducts and save a quarter of the cost. Your dealer is listed below. Let him advise you. ONE FREE QUAR T WITH EVERY GALLG .i 14 Third Avenue Any purchaser of Bâ€"H leading productsâ€"PAINT, VARNISH or ENAMEL â€"will receive a bonus of 25% in Bâ€"H quality goods from any Bâ€"H dealer in Canada. Chas. Pierce Sons Limited Schumacher Hardâ€" ware and Furniture Company THREE WEEKS‘V SUPPLY $1.50 First Avenue, Schumacher Glowing Health Timmins eeK says:â€" V. Allsopp N.: est "beats‘ e law. Hi: magami tC higchwayâ€"â€"£ NWay d it alsc the EIk cithers n