The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1862-10-09

THURSDAY, October 9, Isas.


srycs our last issue, we have hal tao arrivals from San
Francisco, but no mail. Bo;h the vessels were IN route for
China, AMI each left but a single copy q san Francisco daily
paper, q the 1sth and 2O;h- From these papers, very little
news = obtainabt-, either relating to the war o. commercial
matters Sales q : l. sugars are noted at B!c, molasses al
19c- and rice at auction in bots q IS to so bags, al &c. to lO!c.
No quotation Of the premium on gold in New York was given,
and the rate probably remained without change from the last
previous advice. which was Is "a 20 Per cent.
The ~haTkeBtne Jenny Ford cane in on Sunday afternoon,
with 4 large cargo Of lumber. which will BE- fund advertised
ELSEWHERE She viii meet with dispatch for Victoria, sailing on
Saturday or Monday.
Tie whale bark Coral, Sisson. arrived on Saturday from the
Arctic Ocean, with 1000 bril-. oil and 1900 fbs. bone the season
She ~intered in that ocean, but Capt Sis-on inform. Us that
owing to the severity q the winter, or rather tire large quantity
Office, nothing was gainei by il the first whales in the spring
not appearing TIL the ice broke up and the ships made their
appearance The officers and crew, being well protected, met
no Inconvenience from the protracted winter season. The bark
Is now on her fourth season out, and bound hone from this port.
The schooner Ohria also arrived on Saturday from the Arctic.
Her report will be found elsewhere.
The back SPssdveH sails To-day unIer command Of our
tOwHsman, Capt. Hodsworh, who has for many years been
harhOr-master. She i bound 10 Hongkong, where she will take
a cargo and sail for London.
At Lahaina, bark couiHgton, jerks, arrived Oct. 3, from a
cruise on the Line, having $50 brs. sperm oil, 100 Of which was
AIKEN the past season.
In our Eastern papers, we fad frequent discussions regarding
the high premium on gold, the general opinion being that it IS
caused solely by the great issue Of paper money by the Govern
mert. IL appears to Us attributable to no other cause, and il
this 81 it, the rate Of premium on gold, or i'm other words, the
difference in value between paper currency and gold must in
crease in proportion to the increase Of paper currency. The
acts Of Congress have authorized the United States Government
to issue the following:
Mr.. Chase's legal tender not :, by act OF February,
Nj cha;es legal tender notes. by act Of June. 1862 5000 goo goo
Legal tender postage stamp bill by act OF July IL.
Bank note circulation before The passage Of the act
Probable irepea:c since then, upon the depo.i; Of 'O"O'"VO
legal tender 5oOOoOOO
$3.50 oo COO
The following remarks from n. !. HOrId, referring to the rise
In the value Of gold, sustain US in our views Of the cause Of the
disturbance in the currency;
"These facts are significant Of financial troubles. They
are the result Of excessive issues Of paper money. They
are the result of nothing else The attempt to seek their cause
political disasters cause gold to advance, Why did GOLD not ad-
vance last year when Washington and the Federal Government
were alike defenseless and threatened by the rebels! Why did
goFi not advance to a premium after Bull Run Excessive
at u per cent. premuim. or in otbsT worIs. e5 he vaise y ~
legal tender dollar note being 50 cents. Government skies
banks bought at about 90. Jul
These are the Re suEts Of using as money about $50, 100000 7
Of the slOoOOo.OOo already eng1Gred by Government
We have no word Of fault to find. We simply ask what
Chase expects to be our financial condition as commercial
nation, when SSOOI0OoOco are issued, or over three times the
figures are startling enough to make the most infatuated believer
IN paper money pause and reflect. We suggest to Mr.. Chase
-peese basis which all past experience has demonstrated to be
tile easiest in PRACTICAL AMI the most profitable in its results"
The CorroS Trouble England IS soreIy troubled respect
ing the future q the cotton supply. At last accounts there was
po6iing date last year. Were the mills to run on full time /.
every pound Of cotton in England would be used up in four L
weeks. What adds To the prevalent distress is the fact that |
India, 50 much relied upon. has failed utterly to meet the public
that she would supply, partially at least. the def
cIeney Occasioned by the loss % American cotton. Instead Of
sending more than usual to market, there was ahGat, at last
accounts, % India cotton only IS 900 bales against 10000 last
anil $4,000 in 1sGo- Hence the excitement in the Liver
pool cotton market, AMI the distress. present and prospective,
" the manufacturing districts The past year was. on the
whole, n prosperous one for Great Britain, a. the profits on
the French and Italian accounts made up for the loss on exports
10 America The coming year will witness the effect Of cotton
anime in England. for it Is now clear that no American cotton
can possibly be made available for the commerce Of the world
before midWinteT, II even then-V. +. HOTd.
Cotton cloth Is selling In y. Y. at prices which the present
never before experienced. Tie heaviest grade Of
1otton Shooting, which used 10 sell for s cents, has advanced to
3 cents per yard BY the bale tckings have advanced To 10
per yard by the bale. During the last war with England
alco sod 10 Massachusetts Tor % cents pr yard.