Database encoding in pg_dump

Hi all.

Looking through the result of "pg_dump -c -C -d www" I can see:

Create Database "www";

This doesn't set the encoding of the database. Since I'm using several different encodings for my databases, this is unsettling. Furthermore, "createdb" uses an undocumented options for that command, in the form:

CREATE DATABASE "www" ENCODING = $MB LOCATION = $dbpath

That is odd, to say the least, shouldn't those $MB and $dbpath be expanded?

Anyway, how should I go about my backups?

www=> select version();
version
------------------------------------------------------------
PostgreSQL 7.1.3 on alpha-dec-osf4.0f, compiled by cc -std

Nix.