The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1866-06-16

the matter gravclv, it was brought before tins
House with the consent of His Majesty and Cabl-
net Council He thought the petitioners had con
sidered the matter seriously. and were competent
Judges. but hoped the Assembly could convince
them that they not quite So sound. II clerk
signs the name of firm he gives the undivided
opinion of both parties but perhaps these mer-
chants had instructed their clerks that such was
their opinion if such paper came ronnd. As he
came the House this morning he fell in with a
most respectable man who was one oi the petition
ers. who told him that he had regretted very much
that he had signed the petition; and was asked by
the Minister of Finance why he signed II. and was
told that he did not have time to consider the mat
ter The Minister said that he wanted the petition
to have its full weight upon the Assembly as lar
the indiy iyiduas were concerned. but not the
operating parties. He believed that il he could
have talk with some of the leading petitioners.
such MesSrs Janion, Green n Co. Mechers *
Co. Brewer \ Co. and Hackfeld Co, be could
convince them of the bills merits. and that they
would be its strongest advocates. in talking with
another of the petitioners he said that he had given
the bill due reflection after signing, ana now
believed IL 10 be good measure-lt IL, therelore'
to be inferred that arguments would convince more
of them. \ couple of days after his departure
he bis name attached as one of the pet-
TONERS. Talking with another of the petitioners
(who of importance) he said that he was
opposed the petition but signed because he was asked to-
Aud His iIishness Prince William had moved
for doing He and his colleagues had kept Their
wide open regarding this affair." and would be happy To
they wish know He had remarked that the Assembly
ought not to force thing upon an unwilling party o"s s
to be the whole community who were against It. he would
PROFOUND the Assembly that if such bill were to pass
would not be any benefit him individuality but as natural
Consequence it labor himself No argument
community the petitoners) and he could not see why lac
should Withdraw THIS oil from inc Assembly, A s ns
be relieved than Minister Of Finance, and asked
there point against the 1 that should be
stated approved rejected by the Assembly As he was the
mover of the bill he should make the concluding enaks with
Before proceeding he would state that ,e haI spohe wiz
all respect of the signers of the petition but when person
afterwards He stated further that This bill put upon the
public by the but by the advice of some o the petit
PAPER He believed in the chest would be found
petition om one of the sieners Of peop) the issue
of money, and in favor of bank Issuing
towards which he leaned at frst but was aiter
The first petition introduced by Messrs r. Coady and j.
Calhoun and the second was from Chas Dana and ne wSa
say to the Assembly that the government had reees @ S
from some of the leading banking houses that hey won
this bill is defeated before this House, the Ministers OF s
MAJESTY will not feel at all but simply that & the wh
not afraid of becomes such question as
thought the latter best Among those who are
willing to issue paper are different minds some WISH 10 Of h
government Some parties think proper that the %
ana y 50 DONG te government gets the prons that
to reduce the taxes and benefit the people Others say % @
disastrous to the people and hold that no such thing as sra @
could be possible If thing advantageous to ,he gov
ernment it could only be the the people Would
war with the people be advantageous to the g f me
government what security have they when the govern.
him the family nations The notes
the Treasury will be good god but some have SAID .e
be there He would that we have never
found that difficulty yet; and the next point against US Is @
become H ass as % what face can govern
approach its constituents with money to back their
issues of paper money If there not some
and councillors by Section Of the Act
and if the Hawaiian Government has not sufficient guarantee,
then indeed we are in very poor condition ne was @ AZ
to find why such fear was entertained against the o h
the people need not take bills unless they want and hey
oon want them he could not see where '1e n a.. nm
stated that he would like to into the advantages of e PM
did not trepass upon the time of the House, ana san @
generally Of profit IL done for the advantage Of the people.
In rude state of society things AS money whe
others won't, generally the medium OF exchange an
when country grows larger 70 carry on the
exchanges He large proportion of business done
in this town. is done by notes given by private parties % % @
for reasonable would be refused by single gentle
that be given away and
people with their schemes and want money hey
this world that had who did not do very
if such schemes prospered in other countries that there
was wisdom enough in the Assembly to make II pro,Per
here and wished to impress the minds OF the members
that the issue OF money would save the interest 9 @ @
ordered some houses to be built and If the parties
Will take this paper money IN payment it will he so uc
Some one said that we do nor need borrow II such is the case
he certain there would be issue and il this government
great borrower the people would see how dcu was 0
those borrow smaller the issue of these bills
would tend to decrease the rate of interest and the low @
Of interest beneficial those who want to borrow
hundred thousand dollars build themselves Ont against
the interest of the capitalist He said that he was mnGn
hs remarks and hoped that the members would not listen 10
the motion Of lis Higness W C. Lunaio, and IL this bill
deserved II, 1t ought to be referred Select Conlntee
Mr. Heqck said that he had listened with attention 70 the re-
marks Of the last speaker and glad that the members had
a explanation from of the bin He
in favor Of fair discussion As for himself lac was
opposed the bi which carefully He
duce the rate Of interest the Kingdom and yet he was not
opposed to the issue Of but when issued ne
would like 1t Issued sound, bus nesske basis i ~
claimed that if this bill passed will reduce the rate OF IN
was $500 600 to 81 600 in crcuan n this Kingdom 1t
may perfectly everybody have faith in IT,
but there God controls Governments as well
private individuals and something happen this Gov
be deprecated make engagement and some
thing might happen prevent fulfilling it. Is he 10
blame, is he dishonest The present holders o the
debt Of sl80OOo have full faith the Government and might
have full faith for times that Why this debt
brought Because the Government wished 20 owe it, No
But because Of emergency said that il blessing to
England that she has large national deb because IL O"eu
principally in the Kingdom. The with the nited states
1t may argument which console nations for
thelr dents but not recomnendabe Tor nation 70 grt o
debt To that large debt strengthening agency Is IN
opinion mistake. There necessity for putting faith
III government 10 Issue paper "hen IL Is io '''!
and when there is exgency for putting forth SUCH
If there $4,000 issued in and the $4,000 IN gold
laying IN the Ireisury az specie reserve "ere t
saved There difference in exchange in dollar in metal
be rhed with it is like the oath given to man. and ham
died frequently will receive the respect sg
gold deposit issued The
holder Of the will then have something to fall back on IN
Mill the sudden issue Of su that such
issue would drive the circulating gold other country
the country them IS to be lelt to the
Executive how much shall he issued Perhaps they
margin, which would necessarily throw heavy responsibility
House would be giving the Ministers too much
them We all mortas and all Liable to mistakes 1t has
been said that if it is needed Is will not be issued But
what the Of passing law that he dead let
br n.r i tSrob % dit 6arsies This Is Serv different
civ ny