August 19, 1949 (8 pages)

ne nN bd 8—The Nevada City Nugget, Friday, August 19, 1949 WILLYS-OVERLAND CAR PRESIDENT ENDORSES FREE GOLD TRADE ACT J. D. Mooney, chairman and president of the Willys-Overland . Motor company, and a principal exporting manufacturer of the U. S. endorsed the free gold trading act in hearings before the senate banking and currency committee in Washington, D.C. May 5 and 6. Mooney’s_ testimony: This is out of my ordinary course of life, and I feel a bit like the country boy trying to figure out how to save your time and still make what you might call a few critical points.on this problem. I think I might just take time to perhaps: skim through a few points, and then perhaps you might want to ask some questions and see if we can develop points of value in this, matter: 1 would like to pitch saying, first. that I have read Senator McCarran’s bill and I think that generally it is pointed in the. right direction. This morning I Senator McCarran’s. statement thst he made in support of the bill and the philosophy, or bac‘x: ground, for the bill, and I thought that philosophy was generally sound. A day, or so ago, when I knew that I was going to be called be. fore your’ committee, it occurred to me that it might be useful for the committee to have. for its record a decision that was made, as I recollect it, a year or “two -betore the war in the so-called Panamanian gold case. I meant to have the document here but. unfortunately, I could not get one. It was one on which the supreme court passed, on, as I re collect it, a year or two before the war. The case came up over whether Panama had to redeem some of its bonds in gold. The matter was . adjudicated through the various courts and finally reached the supreme cuort, and there was a minority opinion expressed on it by, as I recall, Justice Roberts. I believe he headed the minority opinion. It had some very sound philosophies of political economy, economics, and even constitution. In this discussion, I am naturally going to present a point of industrialist con-, view as an cerned with the use of gold and paper money in industry as a useful medium to support production and distribution, whether in the United States, or internationally. I make no pretense at being a money specialist so, therefore, I will limit my remarks to the field with which I am quite familiar in my experience. I would like to make a comment on the so-called dollar shortage that is being publicized at the present time so vigorously. As you know, our export business in the last year and a half or so has been shrinking rapidly. Export business has run from 20 to 40 per cent of our procluction. At the present time the principal fields are Latin America, starting from the Rio Grande south, and out in the Far East, particularly Dutch East Indies. Then there is a_ scattered volume throughout western Europe at the present time. There are some blank spots, like the so-called sterling area starting with England, and the sterling area countries that have been put down behind the iron curtain. The various American companies back during the past 25 or 30 years at different times have been compelled to put plants in some of these manufacturing countries but not so much to be competitive, but to support the distribution throughout the world in neutral countries. that, for one reason or another, had put up tariffs against American goods or exchange restrictions. + The principal impediment to our exports out of this country is all the different varieties of blocking the convertibility of money either by creating embargoes against the exchange, or allocating the exchanges, or making it impossible to convert that foreign money in the destination of the car, whether it is Brazil or the Argentine, or off in the Far East, back into dollars readily. At the present time you are on safe ground only if you get letters of credit in New York for the dollars against which you can ship the cars and trucks overseas. : There is a shortage of dollars and it is becoming more apparent every day, because the thing that is lacking at the present time in international trade is a medium of exchange starting out with a lack of possibilities of using gold easily as a meduim of exchange and, second, the lack in by listened to . } { . } . ATOMIC SHRINEAt Nagasaki. the second Japanese city to feel the devastating atomic blast, a young girl commemorates the fourth “anniversary” ; Of the deadly explosion. She lost her parents and brother in the bombing. The monument is never left without fresh flowers by the families of the 24,000 people killed. . of being able to convert one currency readily into another. Those are the principal impediments at the present time. Those are much more important practically now . than tariffs. You have two ways of loosening it up, of loosening up the gold—you can go by the bullion route, or using it for discharging ternational field, or you can go by the coinage route in terms, ‘for instance, not related specifically to dollars, but you could imagine having ounces, small bullions, fractions, which, in previous uses of the so-called bullion redemptions, they were rather big chunks that started, , perhaps, at a few thousand dollars. But you could quite easily ‘put it out in ounces. But I would like to add this to that, although that might free up the international matter a lot, the thing that bothers me a great deal just as a plain American is 'that I do not see why I cannot . buy some gold like anybody else. I don’t see why my country discriminates against me in this , way. Who are those guys overseas who can buy it, hide it, and tuck it away, and I cannot do tnat? ; Senator Bricker: It is very difficult to understand. Also, it is difficult for me to understand how you are going to free gold on the market without coinage, or how you are going to -either stabilize the country here or in the international field, or in any . single foreign country, and how you are going to keep them from tne rat-race that we have experienced in international trade heretofore to the debasement of currencies, to get a temporary preferred .advantage in the international market, unless you tie the value of gold to the currency. I think you are merely confounding the confusion. I may be wrong. I am speaking now as to how this would help stabilize trade’ relations. Mooney: I think it would be perfect if we could go back to the old gold standard where you have a fixed gold content in relation to paper money, but, just being practical about it at the moment, if I were chatting with our secretary of the treasury, and he wanted to know—you know how you would talk these things over with friends—and he asked me, “Would you go back to a fixed gold content’? — picking some figure’ out—I would have to say, “Mr. Secretary, I am afraid that I could not advise you to do that right now, because if you go back and start putting your name on the dotted line again, that you are going to redeem at a fixed, pegged rate. If you don’t make good on it, then the whole thing goes hay wire on us again, because the essence of moving back into @ more constructive use of gold or paper money is for every body in the world and, certainly, starting with ourselves, to be honest about the thing, stop gypping the public as has been done since 1914.” That is some 35 years ago. England went back on it in the 1930’s, back on gold. But they had to fall-off it again and that breaks the props. Every once in a while these countries abroad—France tried it several times—they go back on good-sized obligations in the in-, a redemption rate which they cannot fulfill. Will the reserves hold out if. you throw open the window and they start making the rush on your gold reserves? Can you stay with it? If you cannot, it would be tragic for our country. We are not going to get out of this in one fell swoop: We have to start taking this long road back to our old-fashioned precepts about money, and backing up our currency, and this, and that, but it has got to be ,taken in evolutionary, practical steps. Senator Cain: Mr. Mooney, outside of restoring the right of an individual to buy and sell gold, Jas he sees fit, and aside from producing more gold, on the assumption, the price of the gold will be higher, what will the passage of this legislation actually achieve? Mooney: You used a very interesting analogy, a figure of speech, this morning, senator— you spoke about this “fever chart.” Now, I suppose you have raised a family—I have. You do not let the doctor fool you about the fever chart—and you do not fool yourself with it. If the fever is high, you want to know about it. You know with the kids in the family, one of the most useful things that can be done in a preliminary way, in this modest way— The first thing that would be done is to take a fever chart! reading on the value of your, ' paper money. Quite outside of theory about it—mine, or our chairman’s or someone else's, hotshot statisticians or bankers—I thought that was a beautiful way in which you put the question this morning, the fever chart thing. It is a truthful fever. chart. . How far has our inflation really gone, and if it has’ gone as far as some people suspect, maybe we better do something ‘about the patient. So this thing would be invaluable just from that standpoint. The second thing—answering your question—I think it would be very useful in our country to stop the limitation on the American citizen from buying some gold if he wants to buy it and is willing to pay the price. I think that is just dumb common sense that you have got to add it to the list. I do not know why. anybody’s theories of money should . delimit me just, as a citizen from buying some gold if I want it. For your initial step, this freegold market would be operated just like the other metal markets. It would be a free» market in private hands, except this would have—just as a suggestion .—a small group of governors, or some sort of brass hats that might be picked out to be sure that the thing had plenty of sunshine and air in it, or that it was a real, first-class fish bowl, because this thing is terribly important, to face the truth of it, and if you had a good set-up with a 4ree-market operation, with—let’s call it—the moral sanction of some few brass-hat, buys who would kind of see that it is run weil and all that, then, to get back to your question, the United States treasury would have the privilege of buying or selling in that market according to the rights or outlook of the secretary of the treasury for his responsibilities of protecting the jackpot of the United States. The effect that would have upon this gold stored down in anybody’s. loud, you would stop having it sterilized, it could scart moving gradually into the field of ocmmerce to be used as a medium of exchange again, which is one of the principal uses of gold. Now, around the world, going back for centuries, that has been the principal function of gold. Why should you sterilize it down there? I am sure I don’t know the answer to that one. Let it go out and support production and distribution again — gradually, mind you, and your secretary of the treasury could manage that. He does not have to go into the free market except to his own advantage when he is representing the country and us in charge of that gold jackpot. But then you start stimulating mining, certain kinds of low grade properties that cannot be operated, you would increase the supply of gold and, in time, getting back to Senator Cain’s analogy, the fever would drop down. In other words you would be using the natural corrective methods for getting the temperature down. If it dropped below $35, it would be the cause of two things: First, because of the mining, if it had ben greatly stimulated and the flow of gold into this market had been stimulated and, second! ly, because we had been balancing our budget and being less extravagant and pulling our necks _in about our expendiutres so that . your paper money vis-a-vis gold would be more valuable because you would stop cheapening the paper money and, vis-a-vis, gold, it would be caused by those two things—a greater supply of gold and a less supply of credit and paper money. So, that effect is for a longer time and is exactly i what we want to get at.We want to make our money © sounder, generally. Senator Cain: I would be the first to admit that we are living beyond our means; we are spending money faster than we can get it from the taxpayers—and there isn’t a likelihood that it is going to stop—and where it leads to I do not know. Mooney: Well, Senator, it happens, because of my peculiar experience, I have actually lived through this all over the world. I have been responsible for plants —situations where you really get grabbed by the hair and pulled back through—and I have yet to see one country get away with some of these carelessnesses. A lot of them are dramatized in the ' newspapers. The latest one is the . Shanghai dollar. But whether it is Germany or England—I don’t ‘want to go all through this because it would take too long— but I can tell you of my experience. I have been through every one of these experiments, practically, and they always come to a bad end. There isn’t a single exception around the whole world. I won’t take the time to go through them, but I have tried to hit on some which you are familiar with, and I personally have lived through those by experience, In manufacturing and distribution and it is going to be bad unless we start moving back in the direction of honest money. When you first go abroad, overseas, you read all the tourist books and you look for differences. After you have had a lot of experience there, there just are not any main differences from one country to another. Huthe first thing, just thinking out: world, and .these so-called economic experiments go exactly the same course with just some time from one country to another. Senator Cain: You do not subscribe to the sometimes popular theory that we can do well what others have made such a collossal failure of. Mr. Mooney: I have a great faith in my country and my fellow Americans, but, replying directly to your question, I have no such faith at all. MITCHELL TRACT WILL BE ANNEXED TO CITY Nevada City council last night aecepted petition of property owners of the Robert L. Mitchell tract just outside the southern limits of the city for annexation to Nevada City. It will accepted by Ordinance No. 251. Stanley Apple and Gordon Lawlor appeared before the city council and requested action on Brock road recently deeded to the city. _ Mayor Arthur Innis motioned the city contribute $100 toward the iron lung campagain conducted by the Nevada City Business and Professional Women’s club, Past Presidents Parley of Grass Valley Business and Professional Women’s Club and Quartz Parlor, Native Sons of the Golden West, Grass Valley. Fire Chief Ted Sigourney was asked by the council to meet with the fire department board of directors and prepare and present a long range program of equipment needs. Herb Hallett reported J. I. Keegan, manager of the local theater, had made a tentative offer to the city water department for water to be used in the theater’s air conditioning equipment. Council requested Hallett to ask a representative appear at the next city council méeting to complete an agreement. Councilman Thomas F. Taylor reported that he will meet with directors of the Nevada City Athletic club tonight to discuss turfing of the athletic field at Pioneer park. ee ae renege ag Pe tS te CHAPTER QUADRUPLED ‘EXPENSES OVER FUNDS FROM MARCH OF DIMES The local chapter of the National Foundation for Infantile Paralysis has’during the current epidemic spent for four times as much money as was collected during the last March of Dimes in January, according to Elmer Stevens, chairman of the local chapter. Elmer Stevens, chairman of the Nevada county chapter of the National Foundation for Infantile Paralysis, said despite the tremendous challenge of widespread polio epidemics this summer the national foundation “would see to it that no victim of the dissease goes without proper medical for lack of funds.” “In view of staggering out-lays for polio treatment both this summer andlast,” he said, “TI think it advisable to reassure the public thatthe National Foundation and its chapters will take whatever steps may be required to provide care for all those who ned it. Chapter officials, noting that the polio incidence rate this year was running far ahead of last year’s near-record total of 27,895 cases, said that never before in history has the nation experienced two such epidemic years in succession. , “Last year’, Stevens said, “National headquarters of the foundation sent $7,000,000 to chapters whose treasuries had been drained to provide medical care for patients. Already this year almost $4,000,000 has been dispatched to critical areas, and the end seems far from sight. “It should be made perfectly clear, however, that despite this financial crisis, the National Foundation has no intention of defaulting its obligation to underwrite medical care for those who need financial assistance and to carry on its extensive research and professional training programs.” Complete Stock of Inlaid and Print ALL WORK GUARANTEED Fort Knox is where where we. mamn behavior averages about the go off into deep water. Obviously same in all countries around the — <memeeraceos All Photos Come in Strip Form PABCO 0 , ELMER BOSWORTH F A S T S E R V . C E INSTALLATION MECHANIC Choose fron oom of Northern California’s ! rgest Selections. NO EXTRA CHARGE FOR JUMBO SIZE , i Phone 36 for Free Estimate PRICES BELOW ANY REGULAR PRINT SERVICE IN THIS AREA THE ee re AND . PRESCRIPTION mr PHARMACY OPPOSITE VETERANS’ MEMORIAL BUILDING Corner Pine and Commercial Telephone 525-W 256 S. Auburn St. : Grass Valley Phone 36 & D J ae HM eo § ee e@ Wd a el] . ¥

ne nN bd 8—The Nevada City Nugget, Friday, August 19, 1949 WILLYS-OVERLAND CAR PRESIDENT ENDORSES FREE GOLD TRADE ACT J. D. Mooney, chairman and president of the Willys-Overland . Motor company, and a principal exporting manufacturer of the U. S. endorsed the free gold trading act in hearings before the senate banking and currency committee in Washington, D.C. May 5 and 6. Mooney’s_ testimony: This is out of my ordinary course of life, and I feel a bit like the country boy trying to figure out how to save your time and still make what you might call a few critical points.on this problem. I think I might just take time to perhaps: skim through a few points, and then perhaps you might want to ask some questions and see if we can develop points of value in this, matter: 1 would like to pitch saying, first. that I have read Senator McCarran’s bill and I think that generally it is pointed in the. right direction. This morning I Senator McCarran’s. statement thst he made in support of the bill and the philosophy, or bac‘x: ground, for the bill, and I thought that philosophy was generally sound. A day, or so ago, when I knew that I was going to be called be. fore your’ committee, it occurred to me that it might be useful for the committee to have. for its record a decision that was made, as I recollect it, a year or “two -betore the war in the so-called Panamanian gold case. I meant to have the document here but. unfortunately, I could not get one. It was one on which the supreme court passed, on, as I re collect it, a year or two before the war. The case came up over whether Panama had to redeem some of its bonds in gold. The matter was . adjudicated through the various courts and finally reached the supreme cuort, and there was a minority opinion expressed on it by, as I recall, Justice Roberts. I believe he headed the minority opinion. It had some very sound philosophies of political economy, economics, and even constitution. In this discussion, I am naturally going to present a point of industrialist con-, view as an cerned with the use of gold and paper money in industry as a useful medium to support production and distribution, whether in the United States, or internationally. I make no pretense at being a money specialist so, therefore, I will limit my remarks to the field with which I am quite familiar in my experience. I would like to make a comment on the so-called dollar shortage that is being publicized at the present time so vigorously. As you know, our export business in the last year and a half or so has been shrinking rapidly. Export business has run from 20 to 40 per cent of our procluction. At the present time the principal fields are Latin America, starting from the Rio Grande south, and out in the Far East, particularly Dutch East Indies. Then there is a_ scattered volume throughout western Europe at the present time. There are some blank spots, like the so-called sterling area starting with England, and the sterling area countries that have been put down behind the iron curtain. The various American companies back during the past 25 or 30 years at different times have been compelled to put plants in some of these manufacturing countries but not so much to be competitive, but to support the distribution throughout the world in neutral countries. that, for one reason or another, had put up tariffs against American goods or exchange restrictions. + The principal impediment to our exports out of this country is all the different varieties of blocking the convertibility of money either by creating embargoes against the exchange, or allocating the exchanges, or making it impossible to convert that foreign money in the destination of the car, whether it is Brazil or the Argentine, or off in the Far East, back into dollars readily. At the present time you are on safe ground only if you get letters of credit in New York for the dollars against which you can ship the cars and trucks overseas. : There is a shortage of dollars and it is becoming more apparent every day, because the thing that is lacking at the present time in international trade is a medium of exchange starting out with a lack of possibilities of using gold easily as a meduim of exchange and, second, the lack in by listened to . } { . } . ATOMIC SHRINEAt Nagasaki. the second Japanese city to feel the devastating atomic blast, a young girl commemorates the fourth “anniversary” ; Of the deadly explosion. She lost her parents and brother in the bombing. The monument is never left without fresh flowers by the families of the 24,000 people killed. . of being able to convert one currency readily into another. Those are the principal impediments at the present time. Those are much more important practically now . than tariffs. You have two ways of loosening it up, of loosening up the gold—you can go by the bullion route, or using it for discharging ternational field, or you can go by the coinage route in terms, ‘for instance, not related specifically to dollars, but you could imagine having ounces, small bullions, fractions, which, in previous uses of the so-called bullion redemptions, they were rather big chunks that started, , perhaps, at a few thousand dollars. But you could quite easily ‘put it out in ounces. But I would like to add this to that, although that might free up the international matter a lot, the thing that bothers me a great deal just as a plain American is 'that I do not see why I cannot . buy some gold like anybody else. I don’t see why my country discriminates against me in this , way. Who are those guys overseas who can buy it, hide it, and tuck it away, and I cannot do tnat? ; Senator Bricker: It is very difficult to understand. Also, it is difficult for me to understand how you are going to free gold on the market without coinage, or how you are going to -either stabilize the country here or in the international field, or in any . single foreign country, and how you are going to keep them from tne rat-race that we have experienced in international trade heretofore to the debasement of currencies, to get a temporary preferred .advantage in the international market, unless you tie the value of gold to the currency. I think you are merely confounding the confusion. I may be wrong. I am speaking now as to how this would help stabilize trade’ relations. Mooney: I think it would be perfect if we could go back to the old gold standard where you have a fixed gold content in relation to paper money, but, just being practical about it at the moment, if I were chatting with our secretary of the treasury, and he wanted to know—you know how you would talk these things over with friends—and he asked me, “Would you go back to a fixed gold content’? — picking some figure’ out—I would have to say, “Mr. Secretary, I am afraid that I could not advise you to do that right now, because if you go back and start putting your name on the dotted line again, that you are going to redeem at a fixed, pegged rate. If you don’t make good on it, then the whole thing goes hay wire on us again, because the essence of moving back into @ more constructive use of gold or paper money is for every body in the world and, certainly, starting with ourselves, to be honest about the thing, stop gypping the public as has been done since 1914.” That is some 35 years ago. England went back on it in the 1930’s, back on gold. But they had to fall-off it again and that breaks the props. Every once in a while these countries abroad—France tried it several times—they go back on good-sized obligations in the in-, a redemption rate which they cannot fulfill. Will the reserves hold out if. you throw open the window and they start making the rush on your gold reserves? Can you stay with it? If you cannot, it would be tragic for our country. We are not going to get out of this in one fell swoop: We have to start taking this long road back to our old-fashioned precepts about money, and backing up our currency, and this, and that, but it has got to be ,taken in evolutionary, practical steps. Senator Cain: Mr. Mooney, outside of restoring the right of an individual to buy and sell gold, Jas he sees fit, and aside from producing more gold, on the assumption, the price of the gold will be higher, what will the passage of this legislation actually achieve? Mooney: You used a very interesting analogy, a figure of speech, this morning, senator— you spoke about this “fever chart.” Now, I suppose you have raised a family—I have. You do not let the doctor fool you about the fever chart—and you do not fool yourself with it. If the fever is high, you want to know about it. You know with the kids in the family, one of the most useful things that can be done in a preliminary way, in this modest way— The first thing that would be done is to take a fever chart! reading on the value of your, '

paper money. Quite outside of theory about it—mine, or our chairman’s or someone else's, hotshot statisticians or bankers—I thought that was a beautiful way in which you put the question this morning, the fever chart thing. It is a truthful fever. chart. . How far has our inflation really gone, and if it has’ gone as far as some people suspect, maybe we better do something ‘about the patient. So this thing would be invaluable just from that standpoint. The second thing—answering your question—I think it would be very useful in our country to stop the limitation on the American citizen from buying some gold if he wants to buy it and is willing to pay the price. I think that is just dumb common sense that you have got to add it to the list. I do not know why. anybody’s theories of money should . delimit me just, as a citizen from buying some gold if I want it. For your initial step, this freegold market would be operated just like the other metal markets. It would be a free» market in private hands, except this would have—just as a suggestion .—a small group of governors, or some sort of brass hats that might be picked out to be sure that the thing had plenty of sunshine and air in it, or that it was a real, first-class fish bowl, because this thing is terribly important, to face the truth of it, and if you had a good set-up with a 4ree-market operation, with—let’s call it—the moral sanction of some few brass-hat, buys who would kind of see that it is run weil and all that, then, to get back to your question, the United States treasury would have the privilege of buying or selling in that market according to the rights or outlook of the secretary of the treasury for his responsibilities of protecting the jackpot of the United States. The effect that would have upon this gold stored down in anybody’s. loud, you would stop having it sterilized, it could scart moving gradually into the field of ocmmerce to be used as a medium of exchange again, which is one of the principal uses of gold. Now, around the world, going back for centuries, that has been the principal function of gold. Why should you sterilize it down there? I am sure I don’t know the answer to that one. Let it go out and support production and distribution again — gradually, mind you, and your secretary of the treasury could manage that. He does not have to go into the free market except to his own advantage when he is representing the country and us in charge of that gold jackpot. But then you start stimulating mining, certain kinds of low grade properties that cannot be operated, you would increase the supply of gold and, in time, getting back to Senator Cain’s analogy, the fever would drop down. In other words you would be using the natural corrective methods for getting the temperature down. If it dropped below $35, it would be the cause of two things: First, because of the mining, if it had ben greatly stimulated and the flow of gold into this market had been stimulated and, second! ly, because we had been balancing our budget and being less extravagant and pulling our necks _in about our expendiutres so that . your paper money vis-a-vis gold would be more valuable because you would stop cheapening the paper money and, vis-a-vis, gold, it would be caused by those two things—a greater supply of gold and a less supply of credit and paper money. So, that effect is for a longer time and is exactly i what we want to get at.We want to make our money © sounder, generally. Senator Cain: I would be the first to admit that we are living beyond our means; we are spending money faster than we can get it from the taxpayers—and there isn’t a likelihood that it is going to stop—and where it leads to I do not know. Mooney: Well, Senator, it happens, because of my peculiar experience, I have actually lived through this all over the world. I have been responsible for plants —situations where you really get grabbed by the hair and pulled back through—and I have yet to see one country get away with some of these carelessnesses. A lot of them are dramatized in the ' newspapers. The latest one is the . Shanghai dollar. But whether it is Germany or England—I don’t ‘want to go all through this because it would take too long— but I can tell you of my experience. I have been through every one of these experiments, practically, and they always come to a bad end. There isn’t a single exception around the whole world. I won’t take the time to go through them, but I have tried to hit on some which you are familiar with, and I personally have lived through those by experience, In manufacturing and distribution and it is going to be bad unless we start moving back in the direction of honest money. When you first go abroad, overseas, you read all the tourist books and you look for differences. After you have had a lot of experience there, there just are not any main differences from one country to another. Huthe first thing, just thinking out: world, and .these so-called economic experiments go exactly the same course with just some time from one country to another. Senator Cain: You do not subscribe to the sometimes popular theory that we can do well what others have made such a collossal failure of. Mr. Mooney: I have a great faith in my country and my fellow Americans, but, replying directly to your question, I have no such faith at all. MITCHELL TRACT WILL BE ANNEXED TO CITY Nevada City council last night aecepted petition of property owners of the Robert L. Mitchell tract just outside the southern limits of the city for annexation to Nevada City. It will accepted by Ordinance No. 251. Stanley Apple and Gordon Lawlor appeared before the city council and requested action on Brock road recently deeded to the city. _ Mayor Arthur Innis motioned the city contribute $100 toward the iron lung campagain conducted by the Nevada City Business and Professional Women’s club, Past Presidents Parley of Grass Valley Business and Professional Women’s Club and Quartz Parlor, Native Sons of the Golden West, Grass Valley. Fire Chief Ted Sigourney was asked by the council to meet with the fire department board of directors and prepare and present a long range program of equipment needs. Herb Hallett reported J. I. Keegan, manager of the local theater, had made a tentative offer to the city water department for water to be used in the theater’s air conditioning equipment. Council requested Hallett to ask a representative appear at the next city council méeting to complete an agreement. Councilman Thomas F. Taylor reported that he will meet with directors of the Nevada City Athletic club tonight to discuss turfing of the athletic field at Pioneer park. ee ae renege ag Pe tS te CHAPTER QUADRUPLED ‘EXPENSES OVER FUNDS FROM MARCH OF DIMES The local chapter of the National Foundation for Infantile Paralysis has’during the current epidemic spent for four times as much money as was collected during the last March of Dimes in January, according to Elmer Stevens, chairman of the local chapter. Elmer Stevens, chairman of the Nevada county chapter of the National Foundation for Infantile Paralysis, said despite the tremendous challenge of widespread polio epidemics this summer the national foundation “would see to it that no victim of the dissease goes without proper medical for lack of funds.” “In view of staggering out-lays for polio treatment both this summer andlast,” he said, “TI think it advisable to reassure the public thatthe National Foundation and its chapters will take whatever steps may be required to provide care for all those who ned it. Chapter officials, noting that the polio incidence rate this year was running far ahead of last year’s near-record total of 27,895 cases, said that never before in history has the nation experienced two such epidemic years in succession. , “Last year’, Stevens said, “National headquarters of the foundation sent $7,000,000 to chapters whose treasuries had been drained to provide medical care for patients. Already this year almost $4,000,000 has been dispatched to critical areas, and the end seems far from sight. “It should be made perfectly clear, however, that despite this financial crisis, the National Foundation has no intention of defaulting its obligation to underwrite medical care for those who need financial assistance and to carry on its extensive research and professional training programs.” Complete Stock of Inlaid and Print ALL WORK GUARANTEED Fort Knox is where where we. mamn behavior averages about the go off into deep water. Obviously same in all countries around the — <memeeraceos All Photos Come in Strip Form PABCO 0 , ELMER BOSWORTH F A S T S E R V . C E INSTALLATION MECHANIC Choose fron oom of Northern California’s ! rgest Selections. NO EXTRA CHARGE FOR JUMBO SIZE , i Phone 36 for Free Estimate PRICES BELOW ANY REGULAR PRINT SERVICE IN THIS AREA THE ee re AND . PRESCRIPTION mr PHARMACY OPPOSITE VETERANS’ MEMORIAL BUILDING Corner Pine and Commercial Telephone 525-W 256 S. Auburn St. : Grass Valley Phone 36 & D J ae HM eo § ee e@ Wd a el] . ¥