The news-review. (Roseburg, Or.) 1948-1994, October 21, 1949, Page 12, Image 12

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    12 The News-Review, Roteburg, Ore Frl., Oct. 21, 194f
American Dollar Now Rates Among
World's Most Popular Commodities
By CLARK BEACH
WASHINGTON Those restangular green pieces of paper you
carry in your pocketbook are Just about a popular ai any com
modity In the world today. When proud old nationi knuckled under
and devalued their currenclei to make them worth less In termi
ol the American dollar, the young American greenback really came
Into his own.
Once upon a time It "wasn't worth a Continental." That was when
the Continental Congress turned out 210,000,000 on prining presses
during the American Revolution. In terms of gold and other na
tions' money, the Continental dollars were worth only a fraction
of their face value.
The dollar got on Its feet when
Congress, afler the Constitution
had been adopled, established the
present monelary system In 1792.
Congress began coining dollnis
at the Philadelphia mint in 1793.
Thev were all metal coins
gold eagles (worth S10I and frac
tions of eagles, sliver dollars and
fractions of dollars and copper
cents and half cents.
The federal government didn't
turn out anv paper money until
the Civil War, when ''green
backs" were first issued. Banks
operating under federal or state
charters Issued notes as currn
cy and much of the paper even
tually became badly depreciated
in value.
There was a great hullabaloo
when the government made
fireenhacks legal tender, requir
ng that they be accepted In pay
ment of debts. People are Inclin
ed to be distrustful of paper mon
ey, and even today folks don't
like to handle It in some towns in
our western states.
Outstrips British Pound
But the dollar managed to hold
SINCE EVERV DROP
BURUS TO THE EWD,
OUR FUEL OIL SAVES
YOU MONEY, FRIEND
Tl in
rJn
And every drop it chock-full
of quality. That's another
reason why more and more
home owners phone 1289
for fuel oil.
l!
TLTTTMrH'H'H
its own in relation to gold and the
mighty British pound. Through
most of our histiry the pound has
been worth about $1.86. After 'he
first World War It began to slip.
In 1920 the pound was worth only
$3.66. It was back to its normal
$4.86 by 1930. But in 1932 it drop
ped to its lowest point up to that
time, to $3.50 in U. S. money.
Then It fluctuated wildly." In
1934 It reacheo the highest value
of which the Federal Reserve sys
tem has a record, $5.03. In 1941
it sold for $4.03 and that was its
official rate until the recent de
valuation sent it down to $2.80.
The reason for the rise of the
dollar In relation to the pound is
primarily America's new position
as a creditor nation. For more
than a century we bought more
from the rest of the world than
the world bought from us. But
In about 1926 we became the
world's Investment banker. Now
we have so many things that the
world wants to buy that our dol
lars are In unprecedented de
mand, throwing other currencies
off balance.
How Word Dollar Originated
The word dollar was in general
use before our government adopt
ed it. One or another form of the
word designated many kinds of
European currency. It came from
the Greek word thaler. In Dutch
it was the Daalder. In German
It was the taler. Spanish "pieces
of eight" were called dollars.
The dollar sign also was in use
before the Revolution. It Is be
lieved to have designated 'he
Mexican peso. It was first writ
show the "P" superimposed on
the "S" which seems to be how
j we got the dollar sign.
Todav there are about 3d nntion
riolars in the world. About 28 bil
lion of them are in circulation.
Most of the rest are held in the
V. S. treasury. There they are
In the custody of Mrs. Georgia
Neese Clark, treasurer of the
United States, whose signature
also appears on all paper money
now being produced.
Another woman, Mrs. NelKe
Taylor Ross, for 16 years has
been in charge of the manufac
ture of all U. S. coins. As direc
tor of the mint, she has In that
time turned out about $1,028,000,
000 worth of metal money.
There's another interesting fact
about women and American mon
ey. The Institute of Life Insur
ance has estimated that 70 per
cent of the ration's private
wealth Is controllled by women.
;
2 4$Jfi
Tn 1948, more than 85 pounds
or steel wire were produced In
the United States for each person
1 ta tne country.
1 JX 1 A
MesJfcV
See the Exciting New
HOTPOIHTB'
You're years ahead with Hotpoint-the newly designed Auto
matic Electric Ranges that give you new beauty, greater
cooking capacity plus extra convenience!
Hotpoint's oversiie automatic oven provides maximum us
able space. Faster-starting Calrod Units cook more effi
ciently. Tilting backsplasher and fluorescent floodlight make
cooking far easier. Beautiful finish is easy to keep clean.
If you're looking for your money's worth, look at our six
brilliant models of Hotpoint Automatic Electric Ranges.
MODH RC-9
$279
95
verybody's Pointing to
tASY WtMS
fircwc
RAHCtS
Ifutpoint
TROWBRIDGE ELECTRIC
Phone 268
134 N. Jackson
1 snssin
Haiti Spends Millions On Record
Exposition To Build New Markets
exposition nas noi Deen iintinen.
PORT AU PRINCE. Haiti. Oct
21 UP) President Estime is
planning to give Haiti the biggest
show It ever saw a $5,000,000 In
ternational exposition.
The exposition opens Dec. 8 In
brand new buildings on 60 acres
formerly a .slum area. Estime
turned the district, once an eye
sore just east of the city, into a
garden spot of dazzling beauty.
It has magnificent buildings, gar
dens and avenues overlooking the
bay of Gonave.
As minister of education a few
years ago, Estime made himself
famous by putting Haiti's disor
ganized school system in order
and requiring teachers to get to
work on time. He introduced di
rected play and sporM activities.
As president. Estime says he Is
trying to put backward little Hai
ti on its way to progess. The ex
position is part of that program.
All construction work for the
but Haitains say everything will
be ready In time. The show cele
brates the 200th birthday of Port
Au Prince, the capital city.
Haiti hopes the exposition will
bring thousands of visitors, make
the country better known
throughout the world, and create
new markets for Haiti's hand
craft, industrial and agricultural
products.
After the exposition ends it
may run as long as six months
the buildings will be converted
to house government offices.
Exposition officials say hotel
facilities are adequate. Special
tours will be organized to take
visitors to such sights as the cita
del, a mountain top fortress built
by Henri Christophe, once king of
the Negro nation. The citadel Is
considered one of the world's
wonders.
The United States, Cuba, Vene
zuela, Italy, France, Mexico, Chi-
Oregon Polio Costs
Most For Six Years
PORTLAND. Oct. 21
The largest number of polio cases
since 1943 were listed by the State
Board of Health Wednesday.
Thirty-three new cases report
ed last week raised the year's to
tal to 234, Just five less than the
number at this time in 1943.
Six of the new cases are In
Baker county, four In Portland
and four in Lane county.
WILL IN PR0IATI
Upon order of County Judge D.
N. Busenbark, the will of Elmo
KIbby has been admitted to pro
bate. Hit widow, Naomi B. Kib
bv Is named executor, and Call
FeUcer, Genevieve Simmons and
Gordon Stewart are naned ap
praisers. Kibby died Aug. 19,
1949.
le, Ecuador, Guatemala, Uru
guay Argentina, Holland, Bel
gium and Puerto Rico are among
the score or more of nations and
territories which have announc
ed exhibits and participation in
the show.
WINDOWS
DOORS FRAMES
PAGE LUMBER & FUEL
164 E. 2nd Ave. & Phone 242
(NBA TVkBAoioJ
SHIPS BURN OFF COAST Seamen aboard these two small ships
vera forced to abandon ship after the vessels Caught lira and sank
off the West Coast. The lumber schooner Ballna Cms (top) Is shown
ablaze off the coast of Washington a few minutes before she rolled
over and sank. The IT crewmen aboard the Ballna Cms were rescued
br a Teasel of the U. B. Fish and Wildlife Service. The tuna boat
Neptune (bottom) burns off BJa California. All aboard wen res
cued by another fishing boat.
TEACH COUNTESY
WASHINGTON (. Courte
sy ia a trumn card In the restau
rant business, says a spokesman
of the Washington Restaurant
association.
Courtesy and sound finanlrnl
training will be stressed in an
educational program which 'he
Association Is launching to im
prove the standards of the busi
ness. Supervisors, waitresses and
everyone in the business will be
admitted to the classes.
"Statistics show," said the
spokesman, "that 50 per cent of
the people who enter the restau
rant business drop out after the
first year. By the second year,
the figure Is 80 per cent."
PIPE PIPE PIPE
All siiei, with prices at new low.
Bath Tubs, Lavatories, Closet Combinations,
"With or Without Trim"
t r
Valves, Galvanized Fittings
Soil Pipe and Fittings
Electric Hot Water Heaters
Everything for the Farm and Home
BUY WHERE YOU SHARE !N THE SAVINGS
DOUGLAS COUNTY .
Farn? Bureau Co-Operative Exchange
ROSEBURG, OREGON
Phone 98
Located W. Washington St. and S P. R. R. Trocks
EXTERIOR GLAZED
P(0
$$.95
Oj Each
.Hurry This Special Won't Last Long!
West Coast Building Supply Co.
Mill ond Mother Phone 362
i
Bill Neighbors Joy Clark
L
World's Champion Valve-In-Head
Engine
the Mfra efficient power plant with
the valve-in-head design that's setting
the trend for the automotive industry.
7 . . . the one and only low-priced car
with all these EXTRA VALUES
n
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Certl-Safe
Hydraulic Brakes
more outstanding than ever before
with new Dubl-Life Rivetless brake
linings that last up to twice as long.
Curved Windshield with
Panoramic Visibility
supplying all that extra vision which
means extra sajety in driving with
a fuller, freer view all about you.
Center-Point
Steering
with control centered between the
front wheels for maximum driving
ease with minimum driver fatigue.
Fisher Unlsteel
Body Construction
with steel welded to steel above, be
low and all around you for the highest
degree of solidity, quietness and safety.
Extra Economical
to Own and Operate
and traditionally worth more when
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moit wanted motor car new or used!
; ;
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5-Inch Wide-Base Rims, plus
Low-Pressure Tires
the widest rims in the low-price field
plus extra low-pressure tires for
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These EXTRA Values are
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IHIAMSIN MTG! C.
Oak A Stephens
Phone 446
1 1 Ml 1 .TBI .VmYVf II II - M I, SI II I IL ' '1