PAGE FOUR
All-Star Tilt Awaited
TEAM 6 FOOTBALL CHAMPIONS
The intramural touch football
season ended with Team Six as
the Highaeres Champs. Their final
record of 8 wins and no losses
speaks for itself as to the excel
lence of the team.
The members., of the team are
as follows: Joe Fulton, Harry
Scheidy, John Rosenstock, Jim
Salvaggio, Alan Saul, Tom Sear-
Physical Culture
Club Established
The Physical Culture Club is a
newly organized club associated
with the Hazleton Campus of Penn
State U. The purposes of . this club
are promoting physical fitness for
its members and complying with
the efforts of the Federal Gov
ernment pertaining to the encour
agement of physical fitness among
the youth of America.
The officers of the club are:
President Maurice Gugliemini,
Vice-President Jeffery Lyon,
Treasurer Walter Pilger, and
Secretary Melanie Krasnay. Of
the thirty; members of the club,
four are members of the feminine
gender.
The club has spent $200.00 of
the money allotted to it by the
S.G.A. for equipment;
As well as being a learned
mathematics instructor at High
acres, Mr. Ross; the Club’s advisor
is also an experienced physical
culturist.
The planned program of phys
ical fitness is open to all.
A CENTURY AGO
Penn State graduated its first
class one hundred years ago this
month, when 11 students, of an
original class of 59, were granted
bachelor of scientific agriculture
degrees. At graduation exercises
this week, about 500 will receive
degrees.
LETTER
reasons that you are here in an
institution of higher learning is
to learn—not only in a classroom,
but through many different
experiences.
Disgusted Student
(Ed. Note —This column is open
to the student body and the faculty
at Highacres. Unsigned articles
will not be published, but names
will be withheld upon request.)
'ABOLITION*
followed, in which questions were
directed alternately to each
speaker, with each man also hav
ing an opportunity to comment on
the remarks of the other.
A refreshment period followed,
in which guests took the oppor
tunity to meet with the speakers
and discuss the film informally.
HIGHACRES COLLEGIAN
foss, Joe Fitter, and Fred
Bamoski.
DOLLAR BASIS CHANGED
A new. chapter is being written in the long and tor
tured history of this nation's money. President John F.
Kennedy's recent announcement of the end of federal
sales of silver has brought up many questions concern
ing the background of the issue. While several volumes
would be required to do justice to all phases of Amer
ican monetary history, a brief resume of a few high
lights may be helpful in viewing the importance and
consequences of the current situation.
Since its founding, the United
States has experienced the advan
tages and disadvantages of several
types of monetary systems: bi
metallism, the gold standard, and
flat standards. The Coinage Act
of 1792 provided for bimetallism
(use of both gold and silver) with
a mint ratio of 15 to 1. Under
these conditions,, gold was under
valued, sellers generally sought
foreign markets for their gold, and
a virtual > silver standard came into
existence. ... .... ,
In an effort to!'remedy the situ
ation, the federal government
fixed the ratio at 16 to; 1, in, ,1834.
This move undervalued silver and
brought on a reversal of the coin
age situation, resulting in a prac
tical gold ‘ standard. .
The CiviTWar presented a se
vere financial 5 strain on federal
funds, which led the government
to issue large amounts of fiat pa
per “greenbacks” not re
deemable in gold. This paper mon
ey rapidly depreciated in value and
caused considerable economic dis-
tress. However, the government
finally did agree to redeem such
currency in gold through the Spe
cie Eesumption Act of 1873,
“CRIME OF ’73”
Since silver had virtually dis- World War. The economic chaos
appeared from the American mar- of the Great Depression and the
ket, the Coinage Act of 1873 inflation-minded program of
dropped the coining of silver dol- Franklin Delano Roosevelt’s New
lars. This created no immediate Deal brought an end to the gold
stir because silver sellers were standard in 1933. The Silver Pur
still able to make considerable chase Act of 1934 restored silver
profits overseas. By the late to the government’s buying list.
1870’s, however, new silver dis- Since the end of the Second World
coveries in the American West War, the federal treasury has
coupled with a general move to maintained a silver purhcase price
abandon bimetallism in Western of 90.5 cents an ounce and a sale
Europe caused a great rise in pro- price of 91.6 cents an ounce. •
silver agitation. The coinage law SITUATION TODAY
of 1873 was now widely condemned On November 28, 1961, Presi
as “The Crime of ’73.” dent Kennedy announced the end
The question of gold or silver of federal sales of silver and his
became closely tied to politics in intention to request Congress to
the late decades of the nineteenth repeal the Silver Purchase Act of
century. The increased political 1934 and all other subsequent sil
power of the silver-minded West ver legislation,
paved the way for the passage of Since silver purchasers will have
the Bland-Allison Act (1878) and to look to private sources for their
the Sherman Silver Purchase Act needs, the immediate impact of the
(1890) which restored silver to the President's action will probably be
coinage list and provided for a sharp increase in the price _of
specific silver purchases fyy the silver and products with a' high
federal treasury. The 1890’s saw silver-content, e.g., silverware,
the money question take on a rad- jewelry, photographic film, and
; Warriors Lead League
Lackawanna Jr. College Slated
For Jan. 15; Other Games Planned
ical, even emotional, character as
a political issue. The Republicans
and Democrats were not united in
their stands but generally sup
ported gold and silver interests
respectively.
In addition to the major parties,
several third parties Were formed.
Of these,, the Populists were the
most successful, polling over a
million votes for their presidential
candidate, James Weaver, in 1892.
Private “armies,” e.g., the follow
ing of Jacob Coxey and his march
on Washington, were organized to
propagandize the merits of silver.
’96 PRESIDENTIAL QUESTION
The issue came to a head in the
presidential election of. 1896. The
p t yo-gold Republicans re-elected
William McKinley in spite of the
brillialit campaigning and oratory
of the pro-silver Democrat, Wil
liam Jennings Bryan. This defeat
for silver seemed to kill the money
question as a major political issue
and the nation was definitely on
a gold standard by the turn of
the century.
SILVER, GOLD F.D.R.
Gold’s path in the twentieth
century has hit many obstacles.
There was a temporary reversion
to bimetallism during the First
DECEMBER 7, 1961:
An All-Star team is currently
being selected from the ranks of
Highacres intramural basketball
teams, with an inter-collegiate
game With Lackawanna Junior
College on January 15. The team,
members of which have not yet
been finally named, will practice
January 8 for the Lackawanna
tilt.
Other intercollegiate games ate
being tentatively scheduled with
the Wilkes-Barre, Pottsville, and
Scranton campuses of P.S.U.
Also slated to-begin on Jan. 16
will be the continuation , of the
present intramural season.. Cur
rently leading the intramural
league are the Warriors, sporting
a 4-0 record.
In second place are the Celtics,
trailing the league-leaders with a
2-2 card.
Five teams make up the league,
with a total of 46 players. The
breakdown of the teams is as
follows:
Team No. 1
The "Warriors"
1. Scheidy
2. Diefenderfer
3. Randis
4. Bossig
5. Lapinski
6. Warner
7. Defina
8. Fulton
9. Rosenstock
Team No. 2
The "Lakers"
Team No. . 3
The "Celtics"
1. Pilger
2. Milora'i
3. Badamp
4. Guglieminl
5. Marchese
6. Matteo
7. Sacco ;
Team No. 4
The "Hawks"
1. Slattery 1. Bittner
2. Searfoss 2. Casper
3. Strunk 3. Baratta
4. Bernoski 4. O'Donnell
5. Brenner . 5. Koval
6. Saul 6. Gerhard
' 7. Bear 7. Bertolini ' "
8. Bolitsky 8. Michael
9. Schreiner 9. Shenosky . .
10. Garrison 10. Riley
Team No. 5 The "Piston*"
1. Sloboda 6. Riggs
2. Bobeck 7. Wisniewski
3. Maletz 8. Rink
4. Falcone 9. Hampel
5. Yoder 10. Yuhas
various electrical items and
cision instruments. Early eatir
mates have predicted a rise id
$l.OO or $1.05 an ounce for silver.
If the President’s full program
is eventually implemented, it may
mean the end of the silver-gold
controversy which has faced this
nation since its founding.
an event will undoubtedly be wel
comed by most history student!
who have labored through the. vas|
complexities of the many coinage
acts and the even more numerous
suggestions for monetary reform.
(Editor’s note The preceding
feature on the current change iif
the U.S. money system was under
taken by Mr. Epler of the History
Department at the request of The
Collegian.)