The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1862-05-15

will undoubtedly prove true, the Minister next
enters into an argument, endeavoring to show
that the decline in our commerce must be
sought in other causes than the 10 per cent.
tariff" Among the causes he thinks are these
lst.-There are no princely merchants among
Us to purchase goods to be held for speculative
purposes.
III who have acquired fortunes here,
have retired from our shores while others have
invested their means in the soil. But we will
quote the Ministers language;
We are centrally situated in the Pacific, and the reason Why
our ports are nt chosen as the dePots Of goods held for rSPorta-
ton, must b. sought in other Causes than the 10 per cent tariff
W. hAve no pnneeiy merchants among U; TO purchase goods t
q1ired fortunes have TO some extent retired from our shores,
Embarrassing .A=ir capital others have invested their means in
look for the acquisition Of wealth. and prosperity.
We have ever contended for such freedom in
our foreign commerce, as may entice hither the
transient commerce of the Pacific. 1t is no argu-
ment that we have here no princely mer-
chants" to engage in this commerce. 1t is the
capital of Europe, England and America that
floats the mercantile navies of the Pacific. 1t is
the "princely merchants of those countries,
who, from their contingencies in London, Bre-
men, New York or Boston, direct ichere their ships
shall go to unlaie their cargoes. 1t is not neces-
sary for princely merchants to reside here. Sim
ply an agent or factor is all that they require, to
store their merchandise, watch the Course of
trade, and take advantage of the rise and decline
Of markets. An apt illustration of this is afford
ed in Victoria where free trade is the rule, which
port, as the Minister truthfully admits in the
following, has damaged our transit trade, and
which, though enjoying natural facilities far in
feriOr to Honolulu, has outstripped her the
annual imports of Victoria now amounting to
nearly three millions
The market opened in British Columbia with the
Mother Country has, undoubtedly, had n large inlu-
ence, aside from the diminution Of our own commerce,
in lessening the supplies held here in bond. The
amount of British goods from that quarter landed
here in 1861, was but Saba SO, against S7O,299 l6
in 1860.
"Those who have acquired fortunes here
have indeed left our shores or withdrawn their
ventures hither but why is it? Simply because
of our restrictive policy and our declining COM
merce. We shut up the highways of trade by
heavy taxation, and then complain that our mer-
chants leave. This is one of the strongest argu-
ment against the present high tariff.
Finding commercial statistics and comparative
statements bearing heavy against his policy, the
Minister ignores them, and says, he does not
place any high degree of Importance on them.
1t is true that our position is peculiar. and our
condition an anomalous one, but it has always
been SO, and from the nature of circumstances
always will be. All agree that "a revenue for
the support of the government must be raised
from some source and in a measure from
duties but we contend that Il larger revenue
may be derived from a duty not exceeding 3 or 6
per cent. than from the present 10 per cent,
while the increase in trade will add life, %buoyancy
and activity TO every branch of industry. The
desired revenue will be ultimately raised from
high duties, but only at the expense of the gene
raj prosperity and commerce of the kingdom.
The Minister has some very pertinent remarks
concerning foreign whalers, and says, the policy
of this kingdom in regard to the interests of the
whale-fsheries has been, and is, - most liberal -
This is true to some extent, inasmuch as we allow
to them some exemptions. But it must be borne
in mind that whatever bonus we do grant them,
is partially. if not wholly. offset by the increased
duty on the imported supplies which they must '
purchase when they reft. In reality, our libe- I
raj 1plicy'' amounts to a nullity. How much |
90 ever the foreign whaling fisheries may be re- L
rived in future years, or after the war is termin- I
lted, our ports will never participate as in former
years in the recruiting of them, while our tariff /
-emains as ut present. Why is it, when a hun a
lred whaleships-sperm and right whalers-are o
.ruising in the Pacific and Indian oceans, why is d
t that our ports are sealed to their visits? Is it "
lot attributable in part to the embargo on our a
Why is it that our domestic whaling II
ieet, which in 1859, numbered eighteen vessels, C
,alued at 1852, 900 has dwindled down to four, '
by foreign capital, and these likely to be p
before another year? Is it not in k
because the expense attending the fitting P
,ut of whalers here has been increased by the Il
present tariff, rendering the risk attending the f
business too great? Our Ministry should look "
t these facts with both eyes open and not with t!
me shut. y partial remedy is suggested in the +
eport, by admitting casks and copper free of IL
Iuty. but this is only Il drop in the bucket. Our ,
policy has already dealt a severe blow U
o our Furnishing mercantile commerce, and to ii
ur foreign and domestic whaling trade, from t,
Thich it will take years to recover. Understand
$, we do not ascribe all the decline in our com- d
lerce to the tariff, but it should be made to bear !"
IS share, whatever that may be. 81
We are glad to learn from the Report that C,
the Government Exchequer Bills or Stocks have
ever been in a single instance dishonored as to 3
he payment of interest or principal but we h.
as much could be said regarding salaries
nd other debts due at the end of the fiscal term Ii
1vered by the Report. al
The Minister gives as his opinion that no tn
aterial change of the Tariff is deemed advis- it
be-" and doubtless the public will coincide
it'll him, that no change should be attempted
ntil there is first a change in the Ministry for,
assign a task to those who are directly op-
to its performance, would be impolitic. &c
the present commercial policy is unwise, as ne
generally admitted to be the case, there can ~
no remedy until 4 change of Ministry. 80