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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Dec. 27, 1960)
TUESDAY, DECEMBER 27, ItiO MEDFORD MAIL TRIBUNE, MEDFORD, OREGON MedfordJWTribuni "Evuryune in Suuuiern Oregon Reads The MiU Tribune" published Dally except Saturday by S3 North Fir St, Pll SP 2-611 ROBERT W RUHL. Editor HERB GREY Adveltiiinf Msnagar liLKALU 1 LA1IUM OUS WET ERIC W ALLEN 1R . Mnc Edltoi EARL H ADAMS. City Editor HARRY CHIPMAN Telea Editor RICHARD JEWETT Soorta Edltoi OLIVE STARCHER Women's Editor DALE ERICKSON. Circulation Mgr An Indenendent Newsnaper Entered as econd class matter at Medfnt-d. Oregon under aci or March S. 1S.97 RIIRSPRIPTION RATES Uy Mail In Advance Copy 10c Daily and Sunday 1 vear aio uu Daily and Sunday S mos 0(1 Daily and Sunday 3 mos 4.23 Knnriav nnlv On vear S 20 By Carrier In Advance Medford Ashlsnd Central Point Eagle Point Jacksonville Gold Hill Phoenix Shady Cove Rogue Rlv r Talfint and fin motor mutes Dally and Sunday 1 vear tlBOO Dallv and Sunday I mo I SO Carrier and Dealara copy too AMJTerms Cain lnAnvanc "o"lelal Paper of "city of Medford OfflclaJ j-apar of Jackson Connty United Press International Full Leased Wire 11 P.1 Telephoto Newsplctures MEMRFR OF AUDltBiTREAtr OFCIRCUI-ATIONS XdverTlsfne " Representative: WEST HOLIDAY CO INC Of fices In New York Chicago De troit. San Francisco. Los Angeles. Seattle. Portland SI Louis At lanta. Vancouver. B.c hOr' NiWSPAPH A PUIIISHIRS acoriATIOM NATIONAL EDITOKIAI A Flight o' Time Medlord and Jackson County History (rom th. tiles The Mall Tribune 10. 20. 30, 40 and 50 years ago. 10 YEARS AGO Dec. 27, 1950 (Wednesday) A majority of Medlord residents lavor the reactiva tion of Camp White as a train ing installation. It was indi cated by a random poll made today by Mail Tribune re porters. Dick Applegate, a well known newspaper writer and United Press correspondent, arrived In Medford Christmas evening to spend a few (Jays with his family before re porting to the UP Tokyo bu reau for assignment In Korea. 10 YEARS 'AGO Dec. 27, 1940 (Friday) A special election has been palled for Jan. 17 to vote on a $60,000 bond issue to fi nance the city of Meatora s part of an airport improve ment project; the caa nas ai lotted $282,000. From Arthur Perry's "Ye Smudge Pol" column: "The Japanese foreign minister is a former student at the UofO. It often looks like he should be painted green, and thrown In the Old Mill Race." 30 YEARS AGO Deci 27, 1930 (Saturday) Crescent City defeated Med ford 24 to 21 in the local high school's first basketball game of the season. An increased Interest In mining has been shown re cently, in Jackson county with 22 applications for mining claims having been filed with the county on one day alone last week. 40 YEARS AGO Dec. 27, 1920 (Monday) The Inst of a record amount of Christmas packages and let ters are being distributed by the local post office today. The local Elks club will hold an open house on New Year's day. 50 YEARS AGO Dec. 27, 1910 (Tuesday) A move Is In the offing to change the name of Jackson it. to Jackson blvd., on both sides of Bear creek. What's Your I.Q.? Nine er ten correct Is iuperler: even er sight is excellent; five et ix Is good. 1. What did Currier and Ives make? 2. Which of the following Books arc in the Old Testa ment: Mark, Luke, John? 3. Name the first four let ters of the Greek alphabet? 4. Correct the following sentence: "He don't know as he can come." 5. Is Bill Odom famous as a golfer, round - th - world speed flyer, or football play er? 6. In the final vote tally, did President-elect Kennedy win over V. P. Nixon with ap proximately 113,00 votes, 650,000, or 312,000? 7. The monetary gold stock of the U.S. is deposited in the Federal Reserve Bank, in New York; true or false? 8. What is caoutchouc? 9. In baseball, which base is called the rubber? 10. How many fluid drams to a fluid ounce? Answers: 1. Prints (engrav ings). 2. None. 3. Alpha, Beta, Gamma, Delta. 4. He doesn't know if ..." S. Speed flyer. 6. 113.000. 7. False. I. Rubber, t. Horn plat. 10, Eight, i Dismal "Development There are several things . which should be clearly understood about the recently-advanced proposal to build a high dam across the Kogue river at Copper canvon First, it is not a new proposal, but it is one which has been emphatically rejected, lor a num ber of reasons, when it with anv conception of Second, it should never be confused with the Rogue Basin Project, which involves only the upper river. Third, it is being proposed this time, not by anv responsible government agency or organized group, or even an experienced utility. Jt is being proposed by a brand new group of some 50 peo ple in Josephine county, jectives are unclear and OANK DeVOSS, our award-winning outdoor writer, puts it this way: "Sound the call to arms ! The enemy is attack ing! Now is the time for ists to come to the defense of the Kogue river and fight for what is theirs! And Hank's alarum isn't too far-fetched, either. For if such a proposal ever got as far as serious consideration, it which would make past look like the proverbial Over a period of many difficult years, our present concepts of water use have been devel oped. It has involved many fights, and this con cept of multiple use of water resources has not, even yet, reached a stage of perfection and har mony. DUT it HAS reached a point where it is recog nized that no longer can we afford to permit single-use monopoly of our major resources. And sucn a high dam across the main stem of. the lower Rogue would do violence to this hard-won concept. . It would generate a lot of power; it would have certain limited recreational uses; and it would "open up" a lot of timbered country. But" it would end the Rogue as a fishing stream; it would have no flood control benefits; it would not irrigate an acre of land; it would utterly despoil some of the most magnificent country in the west; and it would foreclose for ever the intense enjoyment of the Rogue as a more or less "natural1' stream. "This kind of dismal "development" we can do without. ' It would be asking a sacrifice of everything the Rogue has come to symbolize for a pot-full of unneeded kilowatts. E. A. There s a Difference The difference between this proposal for "uroffress" and the wholly separate oronosal for development of the upper one in concept, in use, The one the Copper on the lower Rogue is for the equivalent of a The other the Rogue Basin development plan for the upper river study, still in progress, count all real and potential uses of the river, and which will carefully safeguard existing values. THIS is no happenstance. per Rogue has been stymied by conflicting inter ests. And it was not until sulted and considered) an optimum use of the The key to this optimum plan, the turning point in the whole ancient controversy, appeared vvhen the lish and wildlife interests became con vinced that they stood to gain more by intelli gent planning of the upper Kogue than by letting summer water flows continue to decrease, with resultant damage to the MOW, for the first time promise of a plan of only will retain and enhance existing values (scenic, fishing, streamflow, recreation, and so on), but which will, at the same time, make pos sible added irrigation, power development, and, to a limited extent, flood control benefits. That this has become possible is due to the long, hard work of the bureau of recreation, the Corps of Army engineers, the U.S. fish and wild- lite service, the Oregon water resources board, the Rogue River Basin Flood Control and Water Resources association, and interested individuals and groups who have par ticipated in the studies. Let us keen it clearly in mind, therefore, that there is no relationship whatsoever between the developing Rogue Basin project plan still under study, and the ill-conceived, hastily nronosed. single-shot dam proposal at Copper canyon. "THE first gives promise of being an important 1 contribution to the entire area, and to the di versified interests which make it up. The second would destroy many of these same benefits, all for the dubious purpose of power generation and timber cutting. The Rogue Basin project can become a com munity endeaver in the best sense: the Conner canyon proposal looks like nothing but a grab for the river, a "give away" of the most flagrant kind, for the benefit of a limited few. E.A. below Agness. has been made. No one the realities likes the idea whose motives and ob even suspect. ' all brave conservation would bring on a fight battles over river use tea party. Rogue Basin is a vast ana in execution. canyon dam proposal to sacrifice' the Rogue mess of pottage. is a carefully prepared which will take into ac all interests were con that a plan approaching river could be devised fisheries. in history, there is real development which not dozens and dozens of Dennis the Menace 'IF VOU FIND ANYAViR8I.es IN THE MteHEO FOWfES, THEY ' Af ' Washington Report By WILLIAM CHURCH AND BORAH Washington - Twenty -odd years ago it was Borah of Idaho who led our isolation' 1 s t s against any "entangle ments" with the tricky and c o 1 onialist British. Now, from the very seat of old Sen. William E. Borah, a man white young enough to be his grandson, 36-year- old Sen. Frank Church of Ida ho, is developing a new, un intended form of isolationism of an equally high - minded kind. It may be as difficult to combat as was the old. For, again, it has ready appeal to the emotional and missionary strain within us. The moun tain west seems somehow to produce politicians of decent purposes - and with a way of so oversimplifying world problems as to produce the very last thing they want - a weakened free West against all totalitarianisms. II7HILE HUlerism was rising " in the '30s, William E Borah, from his powerful post in the Senate foreign rela tions committee, fought every effort to meet that evil re alistically. And he sometimes felt he knew more about .un warlike German intentions than presidents. His great influence - he was an able man of honorable purposes, as is Church-gravely hampered our preparations for a war which we would, all the same, have to fight. Borah was very hard to overcome. For cries about "keeping out of war" were easy and popular then - as cries about "anti-colonialism" are easy and popular now. It was easy to say, two decades ago, that we should take a high, aloof moral position and just let the bad British and French and the worse Ger mans fight it out. TT IS easy now to say, as A Church is saying, that we should completely throw in with the various African "In dependence" movements, be ginning with that in French Algeria. We should no longer vote in the United Nations says Church, with "such no todous colonial powers as Spain, Portugal, South Africa France and Great Britain. "Notorious?" Well, as to Spain and Portugal and South Africa, perhaps yes. (It is little hard on Britain, by the way, to bracket her with ex tremely racist South Africa Britain has made a thousand fold more effort, at immense cost to herself, to moderate racism there than all the world's "anti-colonialist" crlt les put together.) But is Britain, is France, really quite so "notorious"? Are these ancient lands, where modern freedom was born, re ally more "notorious" than say, the Kremlin agents who have an undeniable part in all these African "independ ence" movements? And If they are though surely only a mind bemused by slogans could actually be lieve this are they not then too "notorious" to be accepted longer as faithful allies? And if so, where will we find the troops and fleets to replace those of Britain and France for the common safety against Soviet imperialism? From an "independent" Algeria? From a "liberated Congo? tUT was France really "no- - torious" In the long agony of Nazi occupation? Or was she only the first victim of a marauding force which the West at first was powerless to resist because the West had listened too long to the Bor ahs ot that day? S. WHITE Was Britain "notorious' when left alone under Nazi bombs because of a Western weakness created by parochial isolationism? Will Church of Idaho, in his honest zeal, become the Borah of this generation, righteously separating West ern-world sheep from West ern-world goats so that the last, inevitable winner will be the Russian bear, as once it was the grisly German eagle? It might be so. For Church is very likely to ascend now to th'e chairmanship of t h e Senate foreign relations sub committee on African affairs. (Copyright, 1960. by United Features Syndicate, Inc.) Communications Letters to the Editor must bear the name and address ol the writer although undo cer tain circumstances the use ot a pen name or Initial (or publica Uon la permissible. The Mall Tribune reserves the right to edit all lettera with an eye to clarification and condensation Letters submittea for publica tion must not exceed 400 words Sinister Forces To the Editor: Whelher we have faced the facts or not, Americans are constantly be ing besiged by forces far more sinister than Communism. Let's consider the "sinis ter" forces working like ter mites underground and like lions above. It appears that the liquor, tobacco and prevertcd music interests have by their actions shown their purpose. From video screens voices are be witching tender hearts with hypnotic propaganda that ulti mately leads to both physical and spiritual ruin. Television alone is not guilty. Every means seems to be put to use to lure more nd more individuals into downward paths. Even Christ ian homes are not exempt. What many a few short years ago turned in horror from, now by their apathy, have ac cepted as commonplace. To the tune of rock and roll and jazz multitudes watch and listen while the merits of poison are extolled. So many minds are benumbered and befuddled by nicotine and alcohol that they fail to real ize what is happening. Actual ly our nation is reeling on a drunken, smoking crowd, rushing on in a mad race to ward eternity. Not satisfied with their own inventions, ex peditions have actually been sent into the heart of Africa to capture the bop and rhythm of the heathen devil dancers. Missionaries were sent to convert the heathen. Now their bewitching rhythms, for the love of money, are help ing to transform our nation into a sensual, crime loving band of villains. Not satisfied with worldly outlets the enemy has even incorporated his jazz rhythm into much what is panned off as sacred. David danced, but not to the love sick, sensual rhythms now so popular. Yes, the clever counter feiter, Satan, if you please. even disguises himself into fast pace religious jazz. Yes, sinister forces are working. We must beware. Henry Johnson Jr., 2315 Highway 66, Ashland, Ore. The Maxwell To the Editor: My uncle left Bement, Illinois, and finally settled in Ridgway, Colorado. He bought a slightly used two cylinder Maxwell and started one of Colorado's first auto mobile stage lines between Ridgway and Ouray. This wux a long route for a Maxwell. In the summer, he tried to make a round trip every day. He didn't, but he tried. In the winter the Max well wux froze up. After sev- Foreign News Desk: NATO Soul-Searching; Reds To By PHIL NEWSOM UPI Foreign News Analyst Notes from the foreign news cables: Moscow vs. The Pentagon: Moscow radio is making a distinction between President elect John F. Kennedy and American gen erals. It is an apparent cam paign to con vince Kenne dy that all will be well in American It u s s o rela 1 1 o n s if he will shake up Newsom united states military leadership. Both Pre mier Nikita Khrushchev and Soviet Foreign Minister An drei Gromyko have extended olive branches to the new U. S. administration, asking for a return to the good old days of the Roosevelt-Krem lin relationship. At the same time, Moscow radio blasts "Pentagon strategists" it ac cuses of planning destruction of the Communist world. Soul Searching The United States NATO allies are doing a lot of soul searching over the recent U.S. offer of nuclear submarines and Polaris missiles for the NATO alliance. One consider ation is the fact that the pur chase of 100 Polaris missiles as suggested by the United States, would cost the mem ber nations $100 million. It Today & Tomorrow By Walter THE U.N. IN CRISIS The General Assembly of the United Nations having ad journed, we see only too clear ly that it is the center of a double crisis. The one in volves the use fulness, if not the very exist ence, ot the United N a- 'ill tions itself. The other ree- Llppmann isters a very serious change in the position of the Western powers in the world balance of power. Both crises turn on the Congo. When the trouble broke out after the Belgians left, all the nations, the West ern, the Afro-Asian, and the Soviet Union were agreed in calling upon the United Na tions to restore order. The purpose of restoring order was to avert turning the Congo into a cockpit of the cold war. If this original intention had been realized, if this original intention could con ceivably still be realized, the Congo would become isolated from the international power struggle, neutralized while it acquires the know-how and means of self-government, A LL this has been a great and darincr hooe. and it. may have been beyond the civilization which the world we live in has as yet achieved But could it be made to suc ceed, it would provide a prece dent and an example by which other backward coun tries could pass from subjec tion to independence. The whole future would be brighter. Although it is just possible that the situation in the Congo is not irretrievable, it is cer tain that it cannot be solved by the kind of tactical infight ing which we have been prac ticing, in my view it can be made to succeed only as part of some over-all under standing with the Soviet Un ion to contract, rather than to expand, the theaters of the cold war. The brutal fact today is that Mr. Khrushchev's assault on the U.N. has cut deeply into me support on which the whole enterprise depends-the support of the Afro-Asian na tions and their sympathizers among me neutralist coun tries. The U.N. has been brought to a point where the Soviet Union has sufficient support to nullify its opera lions in the Congo. It has been brought to a point where no i m p o r ta n t constructive U.N. action can be taken with out Soviet consent and col laboration. TN OTHER words, the Soviet - Union has extended its pow er of veto from the Security Council, where it exists under the charter, to the General Assembly and the Secretariat. eral years, my Uncle waz thinking of retiring, then one day a man got off the train in Ridgway and wanted to go to Ouray. My uncle felt sorrv for this 39 year old man from Waukegan and gave him the Maxwell. The Maxwell Is 52 years old and poor old Rochester is still driving it up and down Wil shire Boulevard. Everett Acklin, Ashland, Ore. I would take another $20 mil lion for the naval craft to carry them. There also is the fear that Russia might use the program as a pretext to push her own missiles closer to Western Europe. The question of control also is an Important one. Opponents of the plans say thai 15 fingers on the trig ger would make it too clumsy to be effective. Stay in Own Yards One result of the recent Red "summit" conference in Moscow may be that both th Chinese and Russians have agreed to stick closer to their own back yards. Khrushchev called off at the last moment a scheduled visit to North Ko rea. Chinese President Liu Shao-Chi accepted invitations to visit east European nations more than a year ago. But he has come no closer than Len ingrad and Minsk. Liu has ac cepted an invitation to visit Cambodia and probably will fulfill it. Save the Dollar Reliable banking sources in Frankfurt report it is almost certain that West Germany's Bundesbank (federal reserve) will chop the discount rate again in January in another effort to stop the U.S. dollar drain. These sources put the proposed cut as high as one per cent but no lower than one quarter per cent from the present 4 per cent. The coun try has built up a reserve of more than $7 billion. The Lippmann During the recent session of the General Assembly the So viet Union has overcome that majority which has hitherto followed us. Of the original 51 members, 32 were countries of Western Europe, North America, and Latin America. This was an absolute majority. Now there are 99 countries and at least 54 belong to the so-called Afro-Asian bloc. In the new alignment we can no longer count on the two-thirds majority which is required for positive action. Indeed we cannot be entirely sure that we can count upon enough votes to prevent art action-such as the seating of Red China-which we oppose. T'HE change in our position is due to the fact fiat as the new nations have emerg ed, a great many of them tend to align themselves against the Wesiern powers. The Soviet Union has estab lished its power of veto in the Assembly because it has known how to win the sup port of so many of the new nations. Whelher this tendency can be altered in the Kennedy administration remains to be seen. It will take a lot of doing. It will take primarily, I believe, a conviction in Washington among those who make and administer policy that, as respects the new and uncommitted nations, our ob ject is not to win them over into the Western alliance but to promote and protect their neutrality, with the United Nations as the protecting insti tution. Copyright 1960, New York Herald Tribune Inc. In the Day's News By FRANK JENKINS In this space yesterday we asked HOW MUCH IS A BIL LION DOLLARS? The gen eralized, broadly inclusive an swer is that it is a LOT OF MONEY. So, today, it might be in teresting to ask another ques tion: WHAT IS MONEY? 'THE commonest definition o' -- money is that it is a ME DIUM OF EXCHANGE. Primitive man had no use for money. Nor did he do much trading. He ate the meat of the animals he killed. He clothed himself in their skins He dwelt in a cave. In other words, he was a rugged indi vidualist. He lived by his own efforts. But, as time passed, primi- tive man began to discover that he could improve his standard of living by swap ping what he possessed in sur plus for what his neighbor possessed in surplus. It was thus that TRADE arose. AT FIRST, trade in the world was all swap and barter. But, as trade grew, swapping and bartering be came bunglesome and burden some. It wasted too much time. Eventually, it occurred to some primitive cave man with a Phi Beta Kappa type of brain that a MEDIUM OF EXCHANGE would come in mighty handy. . How he got tht idea it lost Moscow vs. Bundesbank lowered the dis - count rate from 5 to ,4 per would be expected to lessen cent Nov. 11. Another cut, the flow of dollars into Gci putting the rate barely above many's thriving economy. Mrtiter of Fact THE LEVEL OF COMPETENCE Washington U n 1 e s s the signs deceive, a new Admin istration with an exceptional level of hu- m a n compe tence will be the final re sult of the me thodical man hunt that President-elect Kennedy has been conduct ing ever since Alsop his victory. Competence is the key word, for reasons suggested by the common characteris tics which unite the new Secretaries of State, of De fense, and of the Treasury Dean Rusk, Robert McNa- mara, and Douglas Dillon are all men of great intelligence with a wide knowledge of the world and with the vigor and courage, too, that are needed to face the fairly unpleasant key facts of these painful times. But they belong neither to right nor left. They are not doctrinaire. They wear no blinkers. They accept no limi tations, except the limitations that the hard facts impose. Their simple, highly pragma tic aim is to deal with the hard facts in whatever way will be most likely to safe guard and promote the great interests of the United States. A lmost all the highly im- nrpssivp mpn nnur hpinc tapped or considered for sec ond level posts have the same peculiar human coloration. Roswell Gilpatric, already named as Under Secretary of Defense, and the man who will be Gilpatric's partner in harness, Paul H. Nitze, are ob vious cases in point. So is the vice president of the New York Federal Reserve Bank. Kobcrt Koose, who is likely to take a high post at the Trea sury under Dillon. So too is the dean of Har vard, the brilliant MacGeorge Bundy, who may come into the State Department as the dean of the Foreign Service, or may head up a special arms control study group under the President. So too is David K. E. Bruce, who is quite cer tain to get one of the highest diplomatic posts abroad. So too is Charles E. Bohlen, who may go to Paris as Am bassador, but Is now more likely to be retained as chief Soviet expert for the Secre tory of State and the Presi dent. QTHER names might be " mentioned, but the list is long enough to make the es sential point. Some of the men listed are, or were, Re publicans. Others have always been Democrats. One, the pro fessional foreign service offi cer, Bohlen, has been trained to serve, and has loyally served, Administrations of both parties. But in any rational sensn, all these men are all totally non-partisan, except in one re spect. All of them are strong partisans of the valuable but uncommon method of govern ment, which consists in deal ing with the hard facts in a in the mists of antiquity. He may have noted that his neighbors were fond of string ing shells around their necks as ornaments. And ... he may have known where there was quite a shell beach. Anyway, shells were among the earliest media of ex chaiii. Our own Indians, w!:o came along eons after the earliest cavemen, used shells as a medium of ex change. They strung them on threads and called them wam pum. IT WAS thus that MONEY came into being. All kinds of things have been used as media of exchange. For cen turies, CATTLE were used. The use of cattle as money is still shown In our language. The word "pecuniary" (meaning having to do with money transactions) is derived from the Latin word "pecus," meaning "cattle." Cattle were perfectly good money. They had INTRINSIC value. If you didn't want to use 'em s a medium of exchange, you could EAT 'em. You could make leather out of their hides. Their horns made pret ty good drinking cups. For quite a period in our own West, beaver skins were used as money. They too had intrinsic value. You could make hats of their fur. In early colonial Virginia tobac co was used for money. It also had intrinsic value II ygu. I Pentagon; Stay Home 1 that of the United States, Joseph Alsop practical, forthright, and un prejudiced manner. Kennedy's preference for this special human type for men of extreme competence and tested courage, who do not carry excess doctrinaire baggage in turn explains both the rejoicing and the grumbling that have recently been audible. The favorites of the Demo cratic left wing, Adlai Steven son and Chester Bowles, never had any real chance of becoming Secretary of State, for the very same reason that they are the left wing's favorites. Both men, in dif ferent ways, have a doctri naire tinge. Obviously Kennedy sympa thizes far more with this liberal-doctrinaire tinge than with the right wing-doctrinaire tinge visible, in its very deepest hue, in Secretary o Treasury Robert Anderson. But no tinge at all is pre ferred. Hence Bowles and Ste venson were effectively ruled out for the top job at the State Department. Hence, too, there is visible unhappiness in the Democratic left wing. TY the same token, Presi " dent Eisenhower is cross as two sticks with Douglas Dillon because of his decision to accept the Treasury De partment under Kennedy. This is really because Dillon's decision revealed the fact (which should have satrtled no one, but did apparently startle the President) that Dil lon is poles apart from the nervous-doctrinaire Anderson. The President himself did not used to be a doctrinaire conservative. He might have been rescued if he had insist ed on having his way at the beginning of his Administra tion, when he wanted to name John J. McCloy Secretary of State. Instead he named John Foster Dulles to please the late Robert A. Taft, and Dul les did not believe that argu ing with George M. Hum phrey and Charles E. Wilson was any part of his business. And with no one to pull the other way, the President's outlook soon became the out look of his dynamic but pas sionately doctrinaire first Sec retary of the Treasury. But now the departure of the right wing-doctrinaires is soon to occur. They are not to be replaced, either, by their opposite numbers on the left. And this is as good an augury as one could ask. (c) 1960 New York Herald Tribune Inc. Icy Spots, Snow On Oregon Highways Portland-IUPD - The State Highway Department today reported icy spots at John Day, Ontario, La Grande, Lakeview, Bly, Lapine. Sis ters, Prospect, Detroit and Warm Springs Junction. There was packed snow at Government Camp, Brothers, Willamette Pass, Meachamj Baker, Austin and Basque. didn't need it for money, you could smoke it or chew it. One of the principles of GOOD money is that it must have intrinsic value-which is to say that it must be capable of being used for some pur pose other than as a medium of exchange. Also it must be reasonably scarce, because if it becomes too ABUNDANT it depreciates in value. But it mustn't be TOO scarce. THAT brings us around to pnlri whirh (nr rpnliiHrta has been the world's basic medium of exchange. Gold has INTRINSIC value. It is beautiful, which gives it value as ornaments. It is capable of being worked easily, so that almost ANYTHING can be made of it. It doesn't rust away. It resists acids. It can be beaten out fabulously thin for use as gold leaf. It is dur able. And, since the beginnings of trade and commerce, it so happens that gold production over the world has tended to increase about as fast as the volume of world trade and commerce has increased. Thus it has tended to be neither too scarce nor too abundant. For all these reasons, gold has tended to become the IDEAL medium of exchange. the ideal basis of value for other things that are used as money (including paper with PROMISES written on it), the ideal medium for the settle ment of international bal ances. CO, IN these days, we have come to think of gold as MONEY. We have confidence in gold as money. We have confidence in paper money that is backed by gold. We have little confidence in paper money that isn't backed by gold. t
