August 26, 1949 (6 pages)

4h Nevada City Maauek, DR. SPAHR CONDEMNS FREE GOLD MARKETS Dr. Walter E. Spahr, executive . ‘vice. president,.; economists. : na. tional committee on monetary . policy,: professor of economics, . New York university, _testified before the senate banking and currency committee hearings on; the freegold trading act, that passage of the bills would destroy . the fixity of the standard monetary unit. His testimony: I. should like to introduce as part of my presentation this statement entitled “Forty-eight . Members Oppose a Free Gold; Market That Would Destroy the Fixity of Our Standard Monetary Unit.” The number is now 5l. The three new names are William F. Hauhart, Charles Collins, and Father Dempsey, who _ is here to testify. That makes it 51 rather than 48. I should like to introduce an article which I wrote on the question of a free gold market, if that is agreeable. Then I can summarize the major points that . I may wish to make. My major points or contentions are summarized here in this state. ment, and if you wish to break . in at the end of any one of these , questions, I will be glad to try; to. answer whatever questions you may have. 1. It is important that we understand that a free gold market under a thoroughgoing irredeemable currency is one thing and that a free gold market which accompanies a gold standard is something else. It is important that we understand that a freegold market un‘der a thoroughgoing irredeemable currency is one thing and that a free gold market which; accompanies @ gold standard is something else. : rl 2. The McCarran bill, S._ 13, would throw us into a thorough}° going irredeemable paper money . ! system such as we had from 1862 to 1879, and as found in most! countries abroad today, and it. would provide for the type of free gold market that accompanies a thoroughgoing irredeemable currency system. . 3. The fixed monetary unit of the United States which we have in our restricted international . gold bullion standard should not. be impaired or destroyed. Fixity is an important requisite of a good standard monetary : unit. We have had the benefits. of this fixity since January 31, . 1934, and destruction of this fixed unit would injure’ both the United States and other coun‘ tries. , t would destroy the confidence of our people in the willingness or ability of Congress to maintain a fixed monetary standard. Destruction of this confidence would have far-reaching and most unfortunate implications. 4. The simple, but important, obligation of Congress is that we make all our nongold dollars redeemable at par at the present rate of $35, all the time and everywhere. (a) Provision for redemption would end the depreciation of our nongold dollars in private hands abroad. (b). It would place all private holders, both domestic and foreign, on a par with foreign central banks in demanding redemption of our nongold currency. . (c) It would give us and the} world the proper type of a free . gold market. (d) It should remove doubts . everywhere as to the value of our nongold currency. We would . be providing a desirable and im-'! portant type of leadership for . , other countries of the world who . will in time attempt, to Friday, August 26, 1949 stabilize their currencies. / . (e), It, should inspire confidence, enable businessmen and others to make long-time commitments, encourage investment and capital accumulation, and foster production and employment insofar as a good currency can contribute to these desired ends. (f) It should do more than any other single thing to open foreign trade since private ingenuity . could then go to the four corners . of the world to buy and to sell goods and services, and to make investments. (g) It would give us an honest currency. : (h) It would put restraints on further depreciation of our money in terms of buying power. (i) It should discourage attempts to manipulate our monetary standard whenever some group is pinched by relatively low. prices as against relatively high costs. (j) It would be one of the most potent weapons we could employ against our march into socialism. That is all I have to present formally. There are a good many men here who have come great distances and should like to be heard. The Chairman: I am not an economist and not as familiar with gold as would be those from the gold areas such as Nevada and California and Alaska. But I note in your statement under (2) you make a comparison of the conditions in this country. with those in 1862-79. I may be wrong, but was not the monetary condition then due to the war between the _ states, and _ the greenbacks issued, and the lack of exports from this country during that period of time? Mr. Spahr: That is right. We had a thoroughgoing irredeemable currency due to. the conditions that you outline. The Chairman: But you would not have the same conditions, of . course, as existed during that period. Mr. Spahr: We had a postwar period following that war. The Chairman: But our postwar problems were. within our own shores at that time. Mr. Spahr: I think the parallelism between 1862 and 1879 and today is remarkable. The Chairman: But at the present time the condition is not restricted to this country. Mr. Spahr: No, because today we have a hybrid system that is different from what we had in 1879. We have a fixed unit maintained in our monetary system ‘which we did not have then, but under this proposal this bill, we would have what we had in 1862 to 1879. The Chairman: In days gone by America was always dependent on exports to England and our trade balance was through exports of cotton and lumber, and hogs, and so forth. Naval. stores was a real item in those days. We depended on the export of cotton to England for our trade balance. Today the reverse is true they are dependent upon us almost entirely. Mr. Spahr: That is true. The Chairman: You picture this from a world standpoint, but at that time it was simply from the standpoint of the United States, during the war between the States, and immediately following, 1865 to 1879. Mr. Spahr: There are always differences, but, fundamentally, we would go from our hybrid system with a fixed unit and the gains that we have for ourselves and for the world into a thorough-going irredeemable currency with foreign exchange rates ee England, France, Carry these Cheques {/weays carr) BANK of AMERICA TRAVELERS @ $100 in or here at home wherever you roam! These convenient, self-identifying Cheques protect your money against loss or theft. Issued by the world’s largest bank, acceptable throughout the world. Sold by banks and travel offices everywhere. 75c per BANK OF AMERICA W. 1, &S.A., CALIFORNIA attractive wallet-pack. wiih MAG bithi\y just jumping: «It Id, nae chaos as. ch Ron4, Pe _ che}, Chairman:. We,, had .tre aorttie fluctuations .in Toibig 5 exchange after the last war. . Mr. Spahr: Yes. a The Chairman: Sterling went’ from $3.20 to $5.20, or some jsuch figure. I think that was ‘the ‘top. Ido not remember. **” «**: Mr, Spahr: But you .would, be inviting about the widest fluctuation that human beings. could), imagine—there is no other way, to get a wider fluctuation tha here. « ¢.-f,. fla? fs tan it The, Chairman: All. expor from ‘this ‘country .from 1920to! abont. 1933 were) manipulated i foreign, exchange, bythe export, ers,rather. than for what the dollar egst. or the item might ‘have been, The :value.-of. the, pound sterling ‘in New York; -was the price,you got. for your,eptton, . Mr. ate eat eee, ace ft The Chairman: So it was a tre’ mendous fluctuation between $3.20 and. $5.10 or $5.20. Mr. Spahr: Of course, you have fluctuation now. ay The;.Chairman: Yes, but it is limited. Mr. Spahr: Yes, because of the fixed unit. : The Chairman: In those days it was nothing to ,wake. up,in the morning: and find, that: the. pound! sterling had deglined,50 ;cents or $1, in extreme instances, or rose that ‘much ';when } one, country would; change its standard overnight, ; od [. Mr. Spahr: But if we add to the world chaos fluctuation iof the dollar—of course, the paper dollar would then be the dollar— we would just add that much trouble to the great trouble the world has now. aS The Chairman: I am not an expert, and I was tfying to find out about that. Mr. Spahr: That is all right. The Chairman: But I do want to ask you this question: What is your judgment of the testi-)) mony of Mr. Searls, and our good friend, Congressman Engle, with reference to the purchase of gold in the form of hydraulically mined or panned gold? What is your attitude on the Treasury regulation being changed? Mr. Spahr: Provide that they could not buy this raw gold? The Chairman: That they could. They can now, by passing a law saying the Treasury regulation could not be changed. Would that affect the world situations as long. as it could be exported? Mr. Spahr: You would have a dual system. You would have two prices. : The Chairman: There would be only one price in the world because it could not be exported. Mr. Spahr: That gold could not . be exported? The Chairman: ,That is law now, as I understand it. the 1h : : &. Pate iy F oog pat BRO ORR BIB ATE i OOMrs! LuéilleTHesher and chil@reh motoréd’ toi B&ffalo, Wyo. ‘to°'visit her parents, Mr. and ‘Mrs.’J. J. Wright‘and sisters and brothers and their families. Mr. and Mrs. ‘Al Jaynes of Tyler have “remodeled ‘their The North Sag Juan Community Secret Pal’s club met Wednesday, Aug, 17,:at the home of Mr. and , Mrs. W.A.,Atchinson. A pot-luck; lungheon’, was" served -qutdoors., After’ the luncheon a meeting. was, h y.Mrs. Lillian, Wot A a “Birthdays for , August. were honored for -Mrs., Anna McQuinn, Miss Theresa, O’Connox, Mrs. Sarah Reeder and Mrs. Roberta, Stuart, Each one receiving, gj t. from,. secret pal, The se. Present. were: “Mrs. Alta Atchinson, Mrs. Porter, Mrs. Ermma , Colman, Mrs. Ruby Bridges, Miss Isabel Stuart, Mrs. Emma Proom, Miss_ Theresa O’Connor, Mrs. Thomas. Miss Lois MeQuinn, Mrs, Lillian Wolf, Mrs,. Mae Wilson, Mrs. Cecile Wilson, Mrs. Catherine Petters, Mrs. Roberta Stuart; Mrs. Sarah Reeder, Mrs. Frank Stuart, Mrs. Evelyn Stanton,.Mrs. Margaret Madden, Mrs. Stanley ‘Stanton, Mis, ‘Adele Browsing, Mrs, Bea ‘Leonards, Mrs, Ali¢e Hill Kohler, Mis ;Ruth Marshal, .Mrs, Grace urdock, Mrs: ‘Lilly ’ S¢aironi, Mrs. .Z0 Ann Morehead, Mrs. Maude Campbell, Mrs. Anna. McQuinn. Mae Wilson and _. Mrs. Maude Campbell were winners of games.’ if ie! FOR SALE—Roll top desk, $25, Box C, The Nugget.” tin RECENT GUESTS AT THE NATIONAL HOTEL Mr. and Mrs. A. F. Wickersham, A. G. Brenneis, U.S.F.S.; Frank D. Harm Jr., Mr. and Mrs. J. M. Paladini, Ray Canter, all of San Francisco. Mrs. Petra C. Wills, R. A. Little, Renie Rogers, Elba House, all of Sacramento. Mrs. Violet Noyes, Blanch Noyes, Peggy Wolf, all of Oakland. John Powers, Los. Angeles; Philip Cummins, North Bloomfield; Max Shodin, Culver City; Herb Wyman, Culver City; Mr. and Mrs. B. E. Abney, Berkeley; Mr. and Mrs. R. M. Yelland, Jr., Clarksburg; Mr. and Mrs. V. M. Higgins and son, Taft; Mr. and Mrs. Wm. Penhall, Campbell; Mr. and Mrs. Elmer E. Christion, El Cerrito; Miss Pauline Ratzell, Davis; R. D. Ratzell, Davis. TRY MILTON’S GALLONS $1.60 PER GALLON ORDER AHEAD Phone 123 «, Phone 203 246 Sacramento St. Nevada City The Holmes Funeral Home service is priced within the means of all. Ambulance service at all hours. WE HAVE OUR COMMANDMENTS TOO @ Cleanliness © Orderliness @ Friendliness We wish you to enjoy Sociability—Relaxation ® LONG JOHN'S TAVERN . 121 BROAD ST. Lee Kafer Wally Parsons Advertisemens 4 From where I sit . 4y Joe Marsh) J If Saw Tik Anderson last week and was reminded of the first time I ever spoke to him. The missus had sent me out one Saturday afternoon to hunt for some blackberries. I took a long hike and couldn’t find any. Finally, I came to Tik’s house along that low stretch east of the fork on River Road. “Hi there,” I says, “any blackberries around here?” Tik says, “There used to be—but I don’t know much about things that grow wild.” Later, I found how Tik supports his family by picking berries. Ever since, I’ve They're Wild, — They Belong To Tik! been like the rest of folks in town —respectful of his right not to tell where “his” berries grow. From where I sit, respecting other folks’ rights comes natural in our town. in America for that matter! Whether it’s a person’s right to enjoy a temperate glass of beer or ale, or whether it’s Tik Anderson’s right to keep secret where his berries are, it’s all a big part of a real democracy! Copyright, 1949, United States Brewers Foun/~tion { ‘ Senator Frear: That is what I understood him to say. . Mr. Spahr: I could not hear. him. The Chairman: : am. sorry! about. that. I did not know that . the microphones were not oper-. ating, or we could have moved . where we are now before. Mr.: Spahr: I just could not} hear him. The Chairman: I wish, at your convenience, when these hear-} ings are completed, that you will . comment on your position on! that and his testimony. Your reply will be inserted at this point in your statement. Dr. Spakhr’s testimony will be eontinued in our Tuesday edition. GEORGE C. BOLES Optometrist 312 Broad St. Nevada City Telephone 270-W SEWING MACHINE RENTALS © REPAIRS TAYLOR’S— 203 Mill St. Phone 276-M Grass Valley SPECIAL THIS WEEK HAM and EGGS 85c BACON and EGGS Country Style LIKE MOTHER USED TO MAKE OPEN 24 HOURS (Closed. 8 A.M. Tuesday) THE DONUT HUT Broad Street Nevada City * hd, Bex. Ws 5m en Soe SS art NS Cf Mill at ae toe . ae ~ isl . DA iy, Are you a keen judge of people? Which are the largest P. G. and E. stockholders? Wi . \ He f ia i t iy . } Here are a housewife, a president of a corporation, a clerk, a manufacturer, flagmaker, wrestler and a teacher. one owns stock in P.G. and E. How did you choose? Well, here are the facts: Housewives own the most. Teachers are next; then laborers, then manufacturers. And you probably didn’t guess' that the wrestler owns almost as much as the corporation president. No one individual owns as much as 1% of P. G. and E. stock. Actually, we’re owned by the 154,300 stockholders who’ve invested their sav ings im our company. Wi people who owns the most? The figures are from a study of 4300 invested their savings in one particular P. G. and E. stock some years ago. They are typical and illustrative rather than actual. They show that in the final analysis—all are “Capitalists” ! These invested savings, plus sound management, have enabled P.G. and E. to provide gas and electricity at rates among the _ howest in the nation. FOR THE RECORD P. G. and E. stock is among the most widely held in the U.S. This is an example of why “Big Business”-is everyhades busic ness—teamwork between the public, management and employees. Work wever stops on our power building program. P-G-“E: ACHFIC GAS AND ELECTRIC COMPANY ‘ t By A» A an i , ’ % a" ve i “ye Ped a « ff ® >

4h Nevada City Maauek, DR. SPAHR CONDEMNS FREE GOLD MARKETS Dr. Walter E. Spahr, executive . ‘vice. president,.; economists. : na. tional committee on monetary . policy,: professor of economics, . New York university, _testified before the senate banking and currency committee hearings on; the freegold trading act, that passage of the bills would destroy . the fixity of the standard monetary unit. His testimony: I. should like to introduce as part of my presentation this statement entitled “Forty-eight . Members Oppose a Free Gold; Market That Would Destroy the Fixity of Our Standard Monetary Unit.” The number is now 5l. The three new names are William F. Hauhart, Charles Collins, and Father Dempsey, who _ is here to testify. That makes it 51 rather than 48. I should like to introduce an article which I wrote on the question of a free gold market, if that is agreeable. Then I can summarize the major points that . I may wish to make. My major points or contentions are summarized here in this state. ment, and if you wish to break . in at the end of any one of these , questions, I will be glad to try; to. answer whatever questions you may have. 1. It is important that we understand that a free gold market under a thoroughgoing irredeemable currency is one thing and that a free gold market which accompanies a gold standard is something else. It is important that we understand that a freegold market un‘der a thoroughgoing irredeemable currency is one thing and that a free gold market which; accompanies @ gold standard is something else. : rl 2. The McCarran bill, S._ 13, would throw us into a thorough}° going irredeemable paper money . ! system such as we had from 1862 to 1879, and as found in most! countries abroad today, and it. would provide for the type of free gold market that accompanies a thoroughgoing irredeemable currency system. . 3. The fixed monetary unit of the United States which we have in our restricted international . gold bullion standard should not. be impaired or destroyed. Fixity is an important requisite of a good standard monetary : unit. We have had the benefits. of this fixity since January 31, . 1934, and destruction of this fixed unit would injure’ both the United States and other coun‘ tries. , t would destroy the confidence of our people in the willingness or ability of Congress to maintain a fixed monetary standard. Destruction of this confidence would have far-reaching and most unfortunate implications. 4. The simple, but important, obligation of Congress is that we make all our nongold dollars redeemable at par at the present rate of $35, all the time and everywhere. (a) Provision for redemption would end the depreciation of our nongold dollars in private hands abroad. (b). It would place all private holders, both domestic and foreign, on a par with foreign central banks in demanding redemption of our nongold currency. . (c) It would give us and the} world the proper type of a free . gold market. (d) It should remove doubts . everywhere as to the value of our nongold currency. We would . be providing a desirable and im-'! portant type of leadership for . , other countries of the world who . will in time attempt, to Friday, August 26, 1949 stabilize their currencies. / . (e), It, should inspire confidence, enable businessmen and others to make long-time commitments, encourage investment and capital accumulation, and foster production and employment insofar as a good currency can contribute to these desired ends. (f) It should do more than any other single thing to open foreign trade since private ingenuity . could then go to the four corners . of the world to buy and to sell goods and services, and to make investments. (g) It would give us an honest currency. : (h) It would put restraints on further depreciation of our money in terms of buying power. (i) It should discourage attempts to manipulate our monetary standard whenever some group is pinched by relatively low. prices as against relatively high costs. (j) It would be one of the most potent weapons we could employ against our march into socialism. That is all I have to present formally. There are a good many men here who have come great distances and should like to be heard. The Chairman: I am not an economist and not as familiar with gold as would be those from the gold areas such as Nevada and California and Alaska. But I note in your statement under (2) you make a comparison of the conditions in this country. with those in 1862-79. I may be wrong, but was not the monetary condition then due to the war between the _ states, and _ the greenbacks issued, and the lack of exports from this country during that period of time? Mr. Spahr: That is right. We had a thoroughgoing irredeemable currency due to. the conditions that you outline. The Chairman: But you would not have the same conditions, of . course, as existed during that period. Mr. Spahr: We had a postwar period following that war. The Chairman: But our postwar problems were. within our own shores at that time. Mr. Spahr: I think the parallelism between 1862 and 1879 and today is remarkable. The Chairman: But at the present time the condition is not restricted to this country. Mr. Spahr: No, because today we have a hybrid system that is different from what we had in 1879. We have a fixed unit maintained in our monetary system ‘which we did not have then, but under this proposal this bill, we would have what we had in 1862 to 1879. The Chairman: In days gone by America was always dependent on exports to England and our trade balance was through exports of cotton and lumber, and hogs, and so forth. Naval. stores was a real item in those days. We depended on the export of cotton to England for our trade balance. Today the reverse is true they are dependent upon us almost entirely. Mr. Spahr: That is true. The Chairman: You picture this from a world standpoint, but at that time it was simply from the standpoint of the United States, during the war between the States, and immediately following, 1865 to 1879. Mr. Spahr: There are always differences, but, fundamentally, we would go from our hybrid system with a fixed unit and the gains that we have for ourselves and for the world into a thorough-going irredeemable currency with foreign exchange rates ee England, France, Carry these Cheques {/weays carr) BANK of AMERICA TRAVELERS @ $100 in or here at home wherever you roam! These convenient, self-identifying Cheques protect your money against loss or theft. Issued by the world’s largest bank, acceptable throughout the world. Sold by banks and travel offices everywhere. 75c per BANK OF AMERICA W. 1, &S.A., CALIFORNIA attractive wallet-pack. wiih MAG bithi\y just jumping: «It Id, nae chaos as. ch Ron4, Pe _ che}, Chairman:. We,, had .tre aorttie fluctuations .in Toibig 5 exchange after the last war. . Mr. Spahr: Yes. a The Chairman: Sterling went’ from $3.20 to $5.20, or some jsuch figure. I think that was ‘the ‘top. Ido not remember. **” «**: Mr, Spahr: But you .would, be inviting about the widest fluctuation that human beings. could), imagine—there is no other way, to get a wider fluctuation tha here. « ¢.-f,. fla? fs tan it The, Chairman: All. expor from ‘this ‘country .from 1920to! abont. 1933 were) manipulated i foreign, exchange, bythe export, ers,rather. than for what the dollar egst. or the item might ‘have been, The :value.-of. the, pound sterling ‘in New York; -was the price,you got. for your,eptton, . Mr. ate eat eee, ace ft The Chairman: So it was a tre’ mendous fluctuation between $3.20 and. $5.10 or $5.20. Mr. Spahr: Of course, you have fluctuation now. ay The;.Chairman: Yes, but it is limited. Mr. Spahr: Yes, because of the fixed unit. : The Chairman: In those days it was nothing to ,wake. up,in the morning: and find, that: the. pound! sterling had deglined,50 ;cents or $1, in extreme instances, or rose that ‘much ';when } one, country would; change its standard overnight, ; od [. Mr. Spahr: But if we add to the world chaos fluctuation iof the dollar—of course, the paper dollar would then be the dollar— we would just add that much trouble to the great trouble the world has now. aS The Chairman: I am not an expert, and I was tfying to find out about that. Mr. Spahr: That is all right. The Chairman: But I do want to ask you this question: What is your judgment of the testi-)) mony of Mr. Searls, and our good friend, Congressman Engle, with

reference to the purchase of gold in the form of hydraulically mined or panned gold? What is your attitude on the Treasury regulation being changed? Mr. Spahr: Provide that they could not buy this raw gold? The Chairman: That they could. They can now, by passing a law saying the Treasury regulation could not be changed. Would that affect the world situations as long. as it could be exported? Mr. Spahr: You would have a dual system. You would have two prices. : The Chairman: There would be only one price in the world because it could not be exported. Mr. Spahr: That gold could not . be exported? The Chairman: ,That is law now, as I understand it. the 1h : : &. Pate iy F oog pat BRO ORR BIB ATE i OOMrs! LuéilleTHesher and chil@reh motoréd’ toi B&ffalo, Wyo. ‘to°'visit her parents, Mr. and ‘Mrs.’J. J. Wright‘and sisters and brothers and their families. Mr. and Mrs. ‘Al Jaynes of Tyler have “remodeled ‘their The North Sag Juan Community Secret Pal’s club met Wednesday, Aug, 17,:at the home of Mr. and , Mrs.. W.A.,Atchinson. A pot-luck; lungheon’, was" served -qutdoors., After’ the luncheon a meeting.. was, h y.Mrs. Lillian, Wot A a “Birthdays for , August. were honored for -Mrs., Anna McQuinn, Miss Theresa, O’Connox, Mrs. Sarah Reeder and Mrs. Roberta, Stuart, Each one receiving, gj t. from,. secret pal, The se. Present. were: “Mrs. Alta Atchinson, Mrs. Porter, Mrs. Ermma , Colman, Mrs. Ruby Bridges, Miss Isabel Stuart, Mrs. Emma Proom, Miss_ Theresa O’Connor, Mrs. Thomas. Miss Lois MeQuinn, Mrs, Lillian Wolf, Mrs,. Mae Wilson, Mrs. Cecile Wilson, Mrs. Catherine Petters, Mrs. Roberta Stuart; Mrs. Sarah Reeder, Mrs. Frank Stuart, Mrs. Evelyn Stanton,.Mrs. Margaret Madden, Mrs. Stanley ‘Stanton, Mis, ‘Adele Browsing, Mrs, Bea ‘Leonards, Mrs, Ali¢e Hill Kohler, Mis ;Ruth Marshal, .Mrs, Grace urdock, Mrs: ‘Lilly ’ S¢aironi, Mrs. .Z0 Ann Morehead, Mrs. Maude Campbell, Mrs. Anna. McQuinn. Mae Wilson and _. Mrs. Maude Campbell were winners of games.’ if ie! FOR SALE—Roll top desk, $25, Box C, The Nugget.” tin RECENT GUESTS AT THE NATIONAL HOTEL Mr. and Mrs. A. F. Wickersham, A. G. Brenneis, U.S.F.S.; Frank D. Harm Jr., Mr. and Mrs. J. M. Paladini, Ray Canter, all of San Francisco.. Mrs. Petra C. Wills, R. A. Little, Renie Rogers, Elba House, all of Sacramento. Mrs. Violet Noyes, Blanch Noyes, Peggy Wolf, all of Oakland. John Powers, Los. Angeles; Philip Cummins, North Bloomfield; Max Shodin, Culver City; Herb Wyman, Culver City; Mr. and Mrs. B. E. Abney, Berkeley; Mr. and Mrs. R. M. Yelland, Jr., Clarksburg; Mr. and Mrs. V. M. Higgins and son, Taft; Mr. and Mrs. Wm. Penhall, Campbell; Mr. and Mrs. Elmer E. Christion, El Cerrito; Miss Pauline Ratzell, Davis; R. D. Ratzell, Davis. TRY MILTON’S GALLONS $1.60 PER GALLON ORDER AHEAD Phone 123 «, Phone 203 246 Sacramento St. Nevada City The Holmes Funeral Home service is priced within the means of all. Ambulance service at all hours. WE HAVE OUR COMMANDMENTS TOO @ Cleanliness © Orderliness @ Friendliness We wish you to enjoy Sociability—Relaxation ® LONG JOHN'S TAVERN . 121 BROAD ST. Lee Kafer Wally Parsons Advertisemens 4 From where I sit . 4y Joe Marsh) J If Saw Tik Anderson last week and was reminded of the first time I ever spoke to him. The missus had sent me out one Saturday afternoon to hunt for some blackberries. I took a long hike and couldn’t find any. Finally, I came to Tik’s house along that low stretch east of the fork on River Road. “Hi there,” I says, “any blackberries around here?” Tik says, “There used to be—but I don’t know much about things that grow wild.” Later, I found how Tik supports his family by picking berries. Ever since, I’ve They're Wild, — They Belong To Tik! been like the rest of folks in town —respectful of his right not to tell where “his” berries grow. From where I sit, respecting other folks’ rights comes natural in our town.. in America for that matter! Whether it’s a person’s right to enjoy a temperate glass of beer or ale, or whether it’s Tik Anderson’s right to keep secret where his berries are, it’s all a big part of a real democracy! Copyright, 1949, United States Brewers Foun/~tion { ‘ Senator Frear: That is what I understood him to say. . Mr. Spahr: I could not hear. him. The Chairman: : am. sorry! about. that. I did not know that . the microphones were not oper-. ating, or we could have moved . where we are now before. Mr.: Spahr: I just could not} hear him. The Chairman: I wish, at your convenience, when these hear-} ings are completed, that you will . comment on your position on! that and his testimony. Your reply will be inserted at this point in your statement. Dr. Spakhr’s testimony will be eontinued in our Tuesday edition. GEORGE C. BOLES Optometrist 312 Broad St. Nevada City Telephone 270-W SEWING MACHINE RENTALS © REPAIRS TAYLOR’S— 203 Mill St. Phone 276-M Grass Valley SPECIAL THIS WEEK HAM and EGGS 85c BACON and EGGS Country Style LIKE MOTHER USED TO MAKE OPEN 24 HOURS (Closed. 8 A.M. Tuesday) THE DONUT HUT Broad Street Nevada City * hd, Bex. Ws 5m en Soe SS art NS Cf Mill at ae toe . ae ~ isl . DA iy, Are you a keen judge of people? Which are the largest P. G. and E. stockholders? Wi . \ He f ia i t iy . } Here are a housewife, a president of a corporation, a clerk, a manufacturer, flagmaker, wrestler and a teacher. one owns stock in P.G. and E. How did you choose? Well, here are the facts: Housewives own the most. Teachers are next; then laborers, then manufacturers. And you probably didn’t guess' that the wrestler owns almost as much as the corporation president. No one individual owns as much as 1% of P. G. and E. stock. Actually, we’re owned by the 154,300 stockholders who’ve invested their sav ings im our company. Wi people who owns the most? The figures are from a study of 4300 invested their savings in one particular P. G. and E. stock some years ago. They are typical and illustrative rather than actual. They show that in the final analysis—all are “Capitalists” ! These invested savings, plus sound management, have enabled P.G. and E. to provide gas and electricity at rates among the _ howest in the nation. FOR THE RECORD P. G. and E. stock is among the most widely held in the U.S. This is an example of why “Big Business”-is everyhades busic ness—teamwork between the public, management and employees. Work wever stops on our power building program. P-G-“E: ACHFIC GAS AND ELECTRIC COMPANY ‘ t By A» A an i , ’ % a" ve i “ye Ped a « ff ® >