October 19, 1960 (12 pages)

« oy Sa habe: a aoe i . YTryon; reporter, Rist ; refresh ments, that a year ago the Treasury Department finally agreed “In specially dire straights at the request of Congressis the gold market,” the man Johnson to meet with Congressman said, “not only" mining industry officials, because the artificially deSenators and Congressmen. flatedprice’ now enforced “At that time,” the Con: is ridiculous when compared gressman reported: “Secreto the ever soaring cost of tary of the Treasury Andeérproduction, but also because son listened to our case, the policies of the present but remained adamant in administration have threathis opopsition to a reasonened the gold reserves.” able price for gold. Congressman Johnson “Vigorous efforts have ’ pointed out that in a single been made to correct this week last month foreign situation through legislabuyers reduced By CATHARINE MARTZ Hennessy School auditori‘Kenneth Casper’s house and ALTA-OAKS-SUNSET planned the program for The Alta-Oaks-Sunset 4-H Mr. Wadell, a sergeant the coming year. Club elected new officers ae Kitty Meekins, Reptr. in the Alta Oaks Sunset ° om tne Highway Patrol, . howed a film called “One firehouse. ittle Indian;’ about traffic Rosanne Daugherty, outThe movie “From the Ter ety. going president, presided race” has grossed over $2,After the film, Lorraine over the election of the folarness and David Gates 500,000 since its release on \lowing officers: President ve project talks, and July 15. HAIR STYLING.Mrs. Norma Lewis recently opened Norma's U.S. Gold Industry — would have the effect of s c “The official position is that requiring an increase in the we should not worry, but price of domesti cally mined I cannot help but be congold.’ “The outlook for the gold and silver mining industries which is in the process of is good,” declared Dr. Elgin eee up all the gold it Groseclose, financial con}can and is willing to pay) sultant and internationalist . world’ market prices. It, of Washington, D. C., speakwould seem to me that if ing at the 1960 Mining Show we do not raise the price of the American Mining of gold soon, Russia will Congress Thursday. have cornered the market,” He based ‘his optimism Congressman Johnson deupon an acute and growing clared. shortage of the precious With this opposition from metals and the necessity to : the Treasury, gold and stimulate higher production. most mining legislation “Paradoxically,” he said, gathers dust in the Bank“although 60 per cent of the ing and Currency Committotal gold produced since tee of Congress, comprised the discovery of America is primarily of congressmen still in existence, and over from ncn-mining states. 20 per cent of the silver, the demand fcr both far exceeds the supply.” Charles Luckey He pointed out that while world industrial production On Tank Ship is expanding at the rate of 5 per cent a year, carrying Charles E. Luckey, boilerwith it a monetary expanman second class, USN, son sion of 60 per cent in the of Mrs. Lula P. Wilson of decade, the gold stock to Grass Valley, serving aboard support this money has increased only 14 per cent. In ‘Holmes County, is taking the case of silver, he said, part in a joint Navy-Marine new industria] techniques ‘Corps amphibious training are creating a voracivus deexercise at San Clemente mand for the metal, and Island, California. taking annually more than The operation, known as the world produces. “Longhaul,” is designed to The shortage of gold provide training in combat arises from the vast increase READY FOR ite tank landing ship USS WHEN I INSURE WITH logistical support of forwatd in bases and to test air sup money, which only gold can ultimately settle, he declared. Citing International Monetary Fund figures, Dr. Groseclose pointed out that in the years 1950-1959, free world money supply -— increased by 60 per cent, and in Continental Europe, where the claims on U. S. gold are the highest, the port and air defense tech CURNOW HALLS niques. California has more com INSURANCE 316 Broad St. prehensive laws, rules and Dial 265-4586 regulations relating to agriculture than any other ‘. State. SRAASPECIAL OUR OPENING A HUGE SUCCESS. Wy e have received a truck load of pianos since the last sald ISORRY YOU ALL DIDN'T GET TO BUY A SPINET PIANOe eee Outlook Said Good cerned when citizens of “The administration’ beother lands hold the purse lieves that raising the price strings to our gold reserve.” of gold would help Russia WINTER Thank You--FOR MAKING Coiffures on Searles Avenue near the Junior High School athletic field. gold to completely exhaust creating other prices for our entire reserve of gold,” gold in terms of the dollar Congressman Johnson said. in domesti market or of COMPLETELY money and claims SONS of the PIONEERS ENGAGEMENT coe OCTOBER 25th thru 30th on money supply doubled. Dr. Groseclose predicted ment NEW SPINETS should be curtailed until the gold reserves of this country are replenished. He expressed the convicto curb the balance of paytion that a’ stable dollar is ments deficit and the gold more important to the world outflow, which has been than foreign aid, and that a a further devaluation of the dollar unless steps are taken going on now since 1949. The decade of the 1950s is the first decade in Ameri can history to register a net decline in U. S. gold hold stable dollar can be main tained only through a hundred per cent reserve. Meantime, as a measure of protection, he recom ings. This decline, which has mended suspension of inter-. The. Pictures’ by featuring these.. GOLDEN NUGGET SPECIALS WATCH FOR THE TAGS , Essex operating with E Z TERMS FINER SERVICE # GREATEST VALUE MOST SATISFACTION the . EDDIE’S TV . COCHRAN’S CONN ORGAN CENTER don't jut 133 BENNETT STREET, GRASS VALLEY The Essex is scheduled to complete her three and one. half month NATO cruise in Treasury sales to industry, mid-December. and the maintenance of substantial stocks of silver as The that as the world monetary a ponderosa pin pro-. a prime strategic reserve. duces large crops of seeds As to gold, he pointed out PH. 273-2792 and credit structure depends “happen” -they’re caused; upon a stable dollar, foreign be sure you don’t caust one. expenditures of the govern ‘~ ) _ Are you, smoking more.now but enjoying it less? HUMAN FLY That's Orin Murray, Field Survey Engineer of fabulous Glen Canyon.Dam in Arizona. Murray says, ‘‘Sure I've tried other brands. But Camel is the only one that gives me real smoking satisfaction every time . light up.”’ “HOE DOWN’ a Come As You Are — NO DINNERS WILL BE SERVED SMORGASBORD 15— 12.2pmi CHUCK WAGON 52-52", .93%m) DINNER PRICES START AT $2.00 — xkx MUSIC aux Wednesday thru Sunday Every Week ret # arte INN Corner of Main & Church Sts. Grass $395, 495 5495 See the beautiful new Conn Caprice Organ from 5995 MANY OTHER GOOD BUYS ON ORGANS & PIANOS Sixth Fleet in the Mediter-. ranean. B and SPINET WURLITZER ELECTRIC PIANO New A THOMAS SPINET ORGAN NEW A THOMAS CHORD ORGAN NEW tion to loss of $5 billion in aboard the anti-submarine gold, foreigners have added warfare aircraft carrier USS ' to their dollar holdings some $13 billion, which represents an added potential threat to the gold supply.” Dr. Groseclose urged, as to silver, a cessation of 495 EDDIE'S TV —COCHRAN’S CONN ORGAN CENTER celebrates the Ist anniversary of The Paper With taken 20 per cent of the national convertibility of] gold stock, he stated, occurs the dollar and the establish. at a time of extraordinary ment of a free gold market domestic expansion, itself to. determine the proper requiring increased supplies value at which the dollar of money. should. be exchanged. The cause of the gold outflow is the adverse balance of payments, which began BEN ENGSTROM coincidental with the forIN ANTI-SUB DUTY Ben Engstrom_ ,aviation eign aid program, Groseclose said. He pointed out beatswain’s mate first class,. “the cumulative adverse USN, son of Mrs. Olaf Jenbalance for the decade is son of Route 1, Box 192,: around $18 billion. In addiGrass Valley, is serving AS LOW AS FREE HOME TRIALS on PIANOS and ORGANS E Z TERMS.INSTRUCTION AVAILABLE 2.00 COVER CHARGE PER PERSON THIS ENGAGEMENT ONLY COFFEESHOP HOURS — 7 am—2 pm] groups. New officers met as Mrs. ‘Nancy McGill; vice presi the drain on our gold reflatly: serves will increase. “ ‘The easury Depart“Today there are enough ment is oppose to the end foreign dollar holdings reactment of legislation which deemable on demand in Tu BE of the Spring Hill 4-H Club ete ese America’s tion,” Representative John gold reserves by $181 milson said, “but we contink lion and some officials have ally meet with the opposipredicted that this pattern tion expressed by the Secnot only will continue, but retary of Treasury, who-sa ys SPRING HILL The October m Valley Dial 273-6101 a * f z i t I J € v e v d d it P d y E u a n te c b Vv Vv it b

« oy Sa habe: a aoe i . YTryon; reporter, Rist ; refresh ments, that a year ago the Treasury Department finally agreed “In specially dire straights at the request of Congressis the gold market,” the man Johnson to meet with Congressman said, “not only" mining industry officials, because the artificially deSenators and Congressmen. flatedprice’ now enforced “At that time,” the Con: is ridiculous when compared gressman reported: “Secreto the ever soaring cost of tary of the Treasury Andeérproduction, but also because son listened to our case, the policies of the present but remained adamant in administration have threathis opopsition to a reasonened the gold reserves.” able price for gold. Congressman Johnson “Vigorous efforts have ’ pointed out that in a single been made to correct this week last month foreign situation through legislabuyers reduced By CATHARINE MARTZ Hennessy School auditori‘Kenneth Casper’s house and ALTA-OAKS-SUNSET planned the program for The Alta-Oaks-Sunset 4-H Mr. Wadell, a sergeant the coming year. Club elected new officers ae Kitty Meekins, Reptr. in the Alta Oaks Sunset ° om tne Highway Patrol, . howed a film called “One firehouse. ittle Indian;’ about traffic Rosanne Daugherty, outThe movie “From the Ter ety. going president, presided race” has grossed over $2,After the film, Lorraine over the election of the folarness and David Gates 500,000 since its release on \lowing officers: President ve project talks, and July 15. HAIR STYLING..Mrs. Norma Lewis recently opened Norma's U.S. Gold Industry — would have the effect of s c “The official position is that requiring an increase in the we should not worry, but price of domesti cally mined I cannot help but be congold.’ “The outlook for the gold and silver mining industries which is in the process of is good,” declared Dr. Elgin eee up all the gold it Groseclose, financial con}can and is willing to pay) sultant and internationalist . world’ market prices. It, of Washington, D. C., speakwould seem to me that if ing at the 1960 Mining Show we do not raise the price of the American Mining of gold soon, Russia will Congress Thursday. have cornered the market,” He based ‘his optimism Congressman Johnson deupon an acute and growing clared. shortage of the precious With this opposition from metals and the necessity to : the Treasury, gold and stimulate higher production. most mining legislation “Paradoxically,” he said, gathers dust in the Bank“although 60 per cent of the ing and Currency Committotal gold produced since tee of Congress, comprised the discovery of America is primarily of congressmen still in existence, and over from ncn-mining states. 20 per cent of the silver, the demand fcr both far exceeds the supply.” Charles Luckey He pointed out that while world industrial production On Tank Ship is expanding at the rate of 5 per cent a year, carrying Charles E. Luckey, boilerwith it a monetary expanman second class, USN, son sion of 60 per cent in the of Mrs. Lula P. Wilson of decade, the gold stock to Grass Valley, serving aboard support this money has increased only 14 per cent. In ‘Holmes County, is taking the case of silver, he said, part in a joint Navy-Marine new industria] techniques ‘Corps amphibious training are creating a voracivus deexercise at San Clemente mand for the metal, and Island, California. taking annually more than The operation, known as the world produces. “Longhaul,” is designed to The shortage of gold provide training in combat arises from the vast increase READY FOR ite tank landing ship USS WHEN I INSURE WITH logistical support of forwatd in bases and to test air sup money, which only gold can ultimately settle, he declared. Citing International Monetary Fund figures, Dr. Groseclose pointed out that in the years 1950-1959, free world money supply -— increased by 60 per cent, and in Continental Europe, where the claims on U. S. gold are the highest, the port and air defense tech CURNOW HALLS niques. California has more com INSURANCE 316 Broad St. prehensive laws, rules and Dial 265-4586 regulations relating to agriculture than any other ‘. State. SRAASPECIAL OUR OPENING A HUGE SUCCESS. Wy e have received a truck load of pianos since the last sald ISORRY YOU ALL DIDN'T GET TO BUY A SPINET PIANOe eee Outlook Said Good cerned when citizens of “The administration’ beother lands hold the purse lieves that raising the price strings to our gold reserve.” of gold would help Russia WINTER Thank You--FOR MAKING Coiffures on Searles Avenue near the Junior High School athletic field. gold to completely exhaust creating other prices for our entire reserve of gold,” gold in terms of the dollar Congressman Johnson said. in domesti market or of COMPLETELY money and claims SONS of the PIONEERS ENGAGEMENT coe OCTOBER 25th thru 30th on money supply doubled. Dr. Groseclose predicted ment NEW SPINETS should be curtailed until the gold reserves of this country are replenished. He expressed the convicto curb the balance of paytion that a’ stable dollar is ments deficit and the gold more important to the world outflow, which has been than foreign aid, and that a a further devaluation of the dollar unless steps are taken going on now since 1949. The decade of the 1950s is the first decade in Ameri can history to register a net

decline in U. S. gold hold stable dollar can be main tained only through a hundred per cent reserve. Meantime, as a measure of protection, he recom ings. This decline, which has mended suspension of inter-. The. Pictures’ by featuring these... GOLDEN NUGGET SPECIALS WATCH FOR THE TAGS , Essex operating with E Z TERMS FINER SERVICE # GREATEST VALUE MOST SATISFACTION the . EDDIE’S TV .. COCHRAN’S CONN ORGAN CENTER don't jut 133 BENNETT STREET, GRASS VALLEY The Essex is scheduled to complete her three and one. half month NATO cruise in Treasury sales to industry, mid-December. and the maintenance of substantial stocks of silver as The that as the world monetary a ponderosa pin pro-. a prime strategic reserve. duces large crops of seeds As to gold, he pointed out PH. 273-2792 and credit structure depends “happen” -they’re caused; upon a stable dollar, foreign be sure you don’t caust one. expenditures of the govern ‘~ ) _ Are you, smoking more.now but enjoying it less? HUMAN FLY That's Orin Murray, Field Survey Engineer of fabulous Glen Canyon.Dam in Arizona. Murray says, ‘‘Sure I've tried other brands. But Camel is the only one that gives me real smoking satisfaction every time . light up.”’ “HOE DOWN’ a Come As You Are — NO DINNERS WILL BE SERVED SMORGASBORD 15— 12..2pmi CHUCK WAGON 52-52", .93%m) DINNER PRICES START AT $2.00 — xkx MUSIC aux Wednesday thru Sunday Every Week ret # arte INN Corner of Main & Church Sts. Grass $395, 495 5495 See the beautiful new Conn Caprice Organ from 5995 MANY OTHER GOOD BUYS ON ORGANS & PIANOS Sixth Fleet in the Mediter-. ranean. B and SPINET WURLITZER ELECTRIC PIANO New A THOMAS SPINET ORGAN NEW A THOMAS CHORD ORGAN NEW tion to loss of $5 billion in aboard the anti-submarine gold, foreigners have added warfare aircraft carrier USS ' to their dollar holdings some $13 billion, which represents an added potential threat to the gold supply.” Dr. Groseclose urged, as to silver, a cessation of 495 EDDIE'S TV —COCHRAN’S CONN ORGAN CENTER celebrates the Ist anniversary of The Paper With taken 20 per cent of the national convertibility of] gold stock, he stated, occurs the dollar and the establish. at a time of extraordinary ment of a free gold market domestic expansion, itself to. determine the proper requiring increased supplies value at which the dollar of money. should. be exchanged. The cause of the gold outflow is the adverse balance of payments, which began BEN ENGSTROM coincidental with the forIN ANTI-SUB DUTY Ben Engstrom_ ,aviation eign aid program, Groseclose said. He pointed out beatswain’s mate first class,. “the cumulative adverse USN, son of Mrs. Olaf Jenbalance for the decade is son of Route 1, Box 192,: around $18 billion. In addiGrass Valley, is serving AS LOW AS FREE HOME TRIALS on PIANOS and ORGANS E Z TERMS..INSTRUCTION AVAILABLE 2.00 COVER CHARGE PER PERSON THIS ENGAGEMENT ONLY COFFEESHOP HOURS — 7 am—2 pm] groups. New officers met as Mrs. ‘Nancy McGill; vice presi the drain on our gold reflatly: serves will increase. “ ‘The easury Depart“Today there are enough ment is oppose to the end foreign dollar holdings reactment of legislation which deemable on demand in Tu BE of the Spring Hill 4-H Club ete ese America’s tion,” Representative John gold reserves by $181 milson said, “but we contink lion and some officials have ally meet with the opposipredicted that this pattern tion expressed by the Secnot only will continue, but retary of Treasury, who-sa ys SPRING HILL The October m Valley Dial 273-6101 a * f z i t I J € v e v d d it P d y E u a n te c b Vv Vv it b