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

MONDAY, DECEMBER oTH,. 1938 Question of Gold and the Gold Standard Discussed by Expert, Who Sees No Other Medium to Take Its Place. Some Fallacies Exposed. Many very inselligent peopige are conâ€" vinced that gold is docomed to disappear from our cconomic systems. The®following are a few of the arâ€" gcumeréis on which they base theicr theory: We never see it any morsg; it‘s illegal to own it; paper acts just as well for money; why bother ta spend so much time and effort digging it when we only. bury it again at Foxr Knox? Why export goods Oof social value only to receive in paymers. this useless yvellow metal? Why should the United States allow the British Emâ€" pire to lump her gold in America? Calledâ€" Oldâ€"{fashioned Gold and the gold standard have reâ€" peatedly been. denounced as unscienâ€" tific. barbarous and oldâ€"fashioncd; and from a striqcly economic point of view. those who hold such views are probably right. Only a highly civilized world, however. ssems likely to be able to dispense with the gold convantion. Economists could, no doubt, devise a number of schemes ‘o taks the pace of gold which would work admirably in a world where human affairs are government by pur> logic and reason. However, we do nc¢ live in that kind of a world, but in one where human affairs are government by emotions, beâ€" liefs, traditions and prejudices. P Even in this gold camp t scmetimes academic discussio whciher or not at some time 0: gold may not be displaced as ium for setting values amC nations of t!te world. When tions started co "go off the go ard," the discussion was give ard,""* the discussion wa impetus. The question in extended way by the icle by W. C. Krug, of is credited with having as an Little We live in a world of intense naâ€" tionalism with all its threatening gosâ€" tures, and until nations and individuâ€" als «must one another and adopt the golden rule, gold will not be ushered out of our economic systems. There is little hops of this ideal bocoming aA reality soon. Does Fiunce, for exampis, wish O accumulate Gorman marks in exchange for "things" exported to Germany, or does Germany want to accumulate French francs which have the habit of depreciatinz in value regularly? Do any nations wish to accumulate the paper moneys of other nations, or their promises to pay in the future? The Only Gold Trusted Benjamin Anderson in the Chase National Bank FEconomic Bulletin of January, 1937, states: "Gold remains the swandard of value because neither men nor governmen.s trust anything ; W. C. Krug, of Windsor, wh ited with havinz given the ma. much ‘study that he is recognizse authority. Chance of Disuse of Goldâ€"the Only Immortal Metal By W. C. Krug, Windsor) y very irselligent people are con that gold is dcomed to disappea Doherty Roadhouse Co. STOCK BROKERS Timmins, 19 Pine Street North Toronto Kirkland Lake 29;) Bay Street 49 Government Rd. West New Seott Building Direct Private Wires for fast and accurate quotations and executions in all ce, for example, wish <rman marks in exchan exported to Marketl Quotations Broadcast each day at 12.30 nouon and 5.20 p.m. Accurate Markets and Exccutions in lu2s Among it d. When the naâ€" ff the gold standâ€" was given special ion is dealt with was glven special icn is dealt with the followiny artâ€" of Windsor, who nz given the maysâ€" Local Phones 1200 and 1201 Members Toronto Stock Eachange Mining Stocks Industrial and Public Utility Stocks Bonds Unlisted Stoc ‘ommission basis only 11 other medâ€" promises that men live by have reâ€" ceived a jow in the last 20 years rhat no countries now trust the paper of another country. The experiences of the United States with the promises of other nations is a matter for reflection. From July, 1914, to the end of 1929, the governâ€" ment of the United States and its citiâ€" zens had taken twentyâ€"one and oncâ€" half billion of foreisgn paper;, i.c., forâ€" eign investmeri‘s, in return for "things"‘ that were shipped to countries abroad. Over twnâ€"thirds of this Bapgr is now elgn investh that were s Over twoâ€"t] in complete An United Stovues a foreign nations change of policy ation from a specth oy Morg°eniMmrau shows: "In rstimating the fulure of cur foreign trade in re‘ation vo Our monetary policy. we may as woell face monetary poiicy, â€" we may as wWeil iadtt the questionâ€" whether we wish to sell abroad vast quantitiese of goods hnuvers rannat may for unliess we lend are n:t very good backing for curâ€" rency: indeed without undue asperity thry may be described also as sterile. If we must chooss between the two, this administration elects payment fot irdterrational balances in monetary metal This misuse of credit has definitely advanced the case for gold as is eviâ€" denced by nations insisting on gold to meet crade balances and by the hoardâ€" ing of gold by individuals in Europe. Today, gold‘s gsreatest competitor, namely paper money, is losing out. and gold, instead of being discarded 1s becoming more and more valua‘le. As a result of the bitter lesson of the past in which the Unised States lost most of its twentyâ€"one and oneâ€" half billion dollars of foreign investâ€" ments, the United States is now deoâ€" manding gold for srade balances. "Wé exp CHEWING TOBACCO O esulted in ~a following quotâ€" y Morgenthau the fulure of j sary to carty on:war for example has c lion dollars of her the country‘s cwar this war chest imol honoring her debt to Nations realize th lanothcr war on crec preparacion for war iof trying to acciumul gold. felt rich on twen‘les ult other words keing issued by «he Treasury, moest t same fats as the foreign promises pay? Can a governmen. go on i definitely printinz promises to p;s piling debt upon debt without any :r lation to gold reserves? Will the ar wer vo these questions sometime in future also be, ‘"We felt rich on su paper money in the reckless thirti but now we know botte:"? Choose Goid Safety To play safe refer will probably choo gold no longer ayv stock may be b us values in place of But a question Wl all the prom kcing issued by «h ; Ihe reason IOr LNnis UNIVCTSa@l B2°iIGCL may be summarized as follows. It is the most beautiful of the 92 eloments, and ~from tii> very earliest ages has always been eagerly desired. The idca of its preciscusness is too deeply imâ€" beded in the human consciousness ever Intenss nationalis threatening gesturos 2rgument against the decline . forâ€"use as international curren it may be safely said that as . two thousand miles of frontiers by the Versailles Treaty re as long as overâ€"population continues, this nationalism a war will be with us. Fear of war and prolecti emergencies cause nations slorehouse of value in tht gold. A vault full of gold is sary to carry om war as powd for example has earmarke lion dollars of her golkd| ht Gold and the gold standard tinue to be dGenounced as ur etc;; until ‘a scientific‘ : promote irvernational ws:lfa: vised io take the place of o systems always breaking do need be no fear of the futur With our money system, whii per cent. gold and 95 per ce orthodox economics is nothin class economics of the owner: n ideal scctal w economy would be body accumulated c: comfortable and we thre interest of then ness. Under such We have, however debt cconomy; we : provements in its op omy, we toms #anC depart b‘aze a n derpart front tht b‘aze a new trail l tific system of: liv debt 2sconomy wil down and gold wi value if it does n: The abolition of paper money into vation of currenct With sucl hhe part of would work; such a utopia ng laws / the burde: preciation 1l weapon â€"«Oof monglary may have, in the minds of m; lieved authorities of any anxia maintaining an ample stock But this is not the case; centr: are still as cager purchasers reluctant sellers of gold as e The central kanks of the w dominated by gold and an ou!l gold will still predisposs a bank to caution and contractio still represonts financial pres still commands ‘the situation, an: of the gold reserves . ed with alarm. Natural Currencey Rasis In thr June 20th, 1938 issu: Northern Miner, the unique pli: 9y gold in our economy is cle plained: "Gold, then, is not a U stancdard, but gold is, by un consent, the natural and ir basis of currency. ict of ROYAL CANADIAN AIR FORCE OFFI i dispe we clin Havir dishone of"" moIr No Fear for Gold lace of gold nationali<m imit p f dazb the rail b Llnk gold pri enaclo n ryDoday simply ilab tlv {I to h Ro h OU n im c Unit BC L th und V OuU ricli T considt mM € Â¥iI, 11 pa ik Cdilt on : think 11 11 11 pa 11 1sS 1p P mM 91 ped 11 DeoSend 1C Ti W1 Kno W 11 In Gu ) i 1X Meadl np 31 l 11 )0 T‘l1 Ni Celebrate Name Day _ of Mr. Oscar Simola ’- >â€"q M _ Stocks Numerous £: Simola, of Po home on Sun Mr. Simola of tieth birthday Numerous Friends Gatherâ€" ed at Pottsville Home Yesâ€" terday. Mr. and Mrs. Simola are oldâ€"tim: residents of the camp, having been resident in Timmins for many years prior to moving to Pottsville, where they have a beautiful farm home. it 11 1 l K or Durl licio: 11 OHN ARIO A 1 H: irthday, and hi The celebration 11 L full lottit I‘l 11 t has A dva 1€ e, gather iftermnmson 0CC € 18101 1i Tyvng., 1 orated for th D1 9b rved oy k chare Mr. and Mrs. O. athered at their m»on to honour asion of his fifâ€" (Oscar) ‘‘name 16 ed 96 nimIins, and district. a hearty and j by the visitâ€" PW scar) ‘*‘*name : *name day" fore received but for the ot know the t is well to ‘ople have a recipien st wisht Th 10 16 1.68 14.80 33.50 53.00 10 Y 2.8C 00 01 47.| 21 | 00 ; and 60 78 45 8(0 30 43 10 41 of )1 Fiveâ€"Year Term for Albert J. Hubbell bu Eub Sw a. charges Oof abducting t and of frauds in conn purchase of a car at Appearing in Oshaw Hubbell posed from Timmins new car from Clo] out worthiess chequ« He prevailed accompany him pose of acceptin: mins private ho Hubbell had deliberately, but by a motorist w proached with pcosition, it was revealed. Miss Symes went to Toronto w.:‘ accused previously on the same day as she left with him on the extended trip, the Crown The only thing unusual about this trip was that Miss Symes said sh» felt queer, and those who saw her before she went cut in the evening said she was not herself," Mr. Annis said. â€"Cheâ€" Miss Symes sa had no knowled "I feel I must comment on this point because it has the subject of conâ€" siderable discussion by the public. I do ncot press this point, however, beâ€" cause the cond‘¢tion described by the sirl might have bzsen caused by mariâ€" juara cigarettes or some other drug." "A statement given by Dr. Bird afler sxamining the girl was that ‘no known tests are available to dcouect the presâ€" ence of drugs in the system.‘ I feel you would do the accused an injustice if you were to give too much thought to this angls," Mr. Annis said. Hubbell, on his cwn behalf, stated ‘hat he did not know of any drug by which a person might be controlled. "As far drug is concerned, I did nc© administer any drugs, either mariâ€" juana or any other," Hubbell declared. Hs said he had spent some years £t a medical collegs in the United States and had some knowledgs of medicin». Mazistrate Ebbs pointed ovrs that the accused had previously served .wo years in Kinzgston aftor being convicted of leds rdded ‘"‘Ncoedless cus offenct T6 US ha; ‘d\l lfld “ raud char DBORt or the greaver part of the trip, Symes said she felt funny and 13 knowledge of the first 24 hours," rourt was told. "A suggestion, but that has ncost been vindicated beâ€" > there is no mrans Oof vindicating that Miss Symes‘ lack of knowâ€" > of what was going on might have induced by some druz," the Crown 11 Hill â€"Clarkâ€" Francis illtv. bu 1€ Gyproc Wool Insulation is easilly installed. It com inches thick and the right size to fit between th« rafters. You simply lay them in above the ceilling, may buy it bulk by the bag and poutr it in. As well lating qualitics it is fireproo{f and clean, CGENERAL CONTRACTORS 1 C 1t whosso address was given as , at first pleaded guil‘y, then v, but when the case was callâ€" jurt. admitted abductingy the dy, saying he did this to save embarrassment of appearing Hubbell recontly was chased 1e continent by the police of and she US§.A., being wanted I charges. He was eventually on Nov. 1. at Portland Oregon, back to Oshawa for krial on of abducting the young nurst ‘rauds in connection with the at Bracebridge. ess to say this is a very sertâ€" nmnce and the Crimnial Code a maximum penalty of ten inprisonment," his Worship ov©. "In this charge you took Doctor Sentenced onl ce of Abduction. | a€ § in connection i car at Oshawa m for 0s pit Ozshawa Oshawa on Sept. 17, â€"a Dr. J. J. Hubbell, nd on Sept. 19 got a dealer by means of â€"a Miss Symes were apâ€" ‘zard to the hospital ot come to Oshawas had bex#h picked up o was driving to the rney Annis pointed on Miss Symes to r the expressed purâ€" i position in a Timâ€" C 4 TY bui For pi€ ‘ce the c rowds ord whicse (Cass Timmins and visited here to many here and also beâ€" olf this town prek terim h s sentenced n Kingston acded gullty aged Miss Eliz urso. On an for Your House Call tre m. The rowded ‘a / QU SsCHUMACHER ~‘F ... o gagq o 3 mm mm ce s P LIMITED Phone 4,000 urt Un for this cer‘it graduate of pital who success in Â¥ou carmne Â¥oun| vited Aft the no k6 which nart Totrt THIS WINTER W ITH W.C. ARNOTT If the men on yvour list were to tell vou what they wantes youd lcarn that practical gifts are most in demand â€" â€" â€" and someâ€" thing to wear is practical! Arâ€" nott‘s, his favourite store is ready to help you with your stlection now. â€" Call in Gyproc Wool Insuladion W I MEN‘S and BOYXYS‘ WEA 1 THON Mo wa H V U