Monday, November 1, 2010

Miners and Merchants Bank

Good Monday morning to you all. Today's picture was taken in 1905, and it shows Miners and Merchants bank in Nome Alaska. The people on the street are interesting to look at, but even more interesting is what is inside the bank:


This is gold from the Alaskan Gold Rush. The picture indicates that it is 1,250,000 in gold. At todays gold prices, that would be about $85 Million in gold. Same amount of gold, just the paper dollar is worth a lot less, so it takes more of them to buy the gold.

6 comments:

  1. Back then gold was about $30 to $35 an ounce, now it is over $1,300.00 and ounce.

    See, now that is how a bank should be built. It has $85,000,000.00 in gold in it (at today's prices), but the bank is not a gaudy monster like they build today and then cry that they have to charge extra for everything they do, because they are losing money.

    I would have to guess that those buckets contain unrefined ore.

    A person would think that Nome, Alaska in 1905 would be somewhat primative.
    But you see electrical and telephone wire, and a lot of them.

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  2. Both pictures are very interesting, but that the bank had that amount of gold on premises is amazing.

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  3. My grandmother and grandfather were living in Nome at this time. I wonder if they are in the picture? My grandmother raced sled dogs there. My mother and uncle were born there.

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  4. I received an email from a reiend that has a pretty good discussion of the different forms of government which has anarchy as one extreme. Cleared up a nimber of points for me so I thought the others in the OPD Blog would like to see it. it is found at
    http://www.wimp.com/thegovernment/

    Al

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  5. Interesting that the photograph of the street was a big enough deal to get everyone to stand still and face the camera. I found the giant pocket watch hanging in front of the bath house interesting too.

    That would make an interesting subject for one of your weeks--bath houses, back when they were a part of daily life, not a suggestive joke. The restaurant Miss Chef works in used to be a bath house, and it still has a beautiful stamped tin ceiling.

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  6. Good sized dog to the left of the bank, there...Wonder what security they had in place for the value inside?

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