The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1866-07-07
fIfIY-FioHTH Day, July ?.

The Assembly, met al the usual hour.
( Ait"r ths opening proceedings the bill TO legal
. We th' issue oi paper money was called uu and
Iihlsier ''arrIs said / resided in New England
HHt'i J. had passed uie age of maturity. aud do
n'' thiIN any other View Euglauder ever saw q
I'VE uDIdF GOLD piece passed over the c.uufrr Of e,
merchant The ordinary way Of tran,;,cfir., busi-
n'-7 was with Jgt J,GpeF, and If ever IL goes be-
!Cre Committee. will guarantee that no Ncq,
England man can 90 before il and saw upou his
Lol'r anything To the contrary. some have sai,
mat u Is a sign of poverty but if it j. such I
HoPs tHlt tbe same poverty may br raiurd Gl,on
ms favored country. have said 20 much ,o .lf-
Isiy this body that in this paper money system
There j. nothing To hr feared. that countries who
nave adopted the system have not Oulv E.lucd
themselves bHt been able to help others. / viii
now meet the objection that il will drive ont OF
Ibis country the foreign capital. 7 have talked
me matter over with eminent ~iguer of the be-
iiiion against this bill. and bc pleased 10 ac
knowledge that | had convinced him in favor of
the bill. aud stated Ia others
IHc member from Honolulu (Mr. HeUck) has
siid that Foreign lenders would withdraw their
capital " interest tell. There. i no doubt but that
Great Britain opened the ports of Chin, to tl.
trad; Of the world. and commenced trade with
those ports. but American cotton drove English
c"ttnn- out Of the market. because the American
could iurni>h them cheaper. while Great Britain
drove the American w0ocns ont Of the sane mar
hrt Tor the same reason. No man should buv
goods from man paying more than he could ort
tAe sam" goods Tor from another. 20 hold that
no man should pay twelve per cent. Tor money ii
he can get it for less. ! hold. in answer to th..
foreign II
u hugnctr thar must disappear as YOU approach it.
lhry talk about our issuing millions Of dollars
1t't'0"s-whcn all the bill asks for Is Il couple Of
hundred. OF thousands. [Nlr. II. said he had not
S.i'u miIlipns-J We do not propose 10 issue mil
lions, or 10 make il legal tender. | sneak with
great dtidcnce lie ore whom | am satisfied
iI"t lHn u i'Ti sr,atrT eNIrrirnce My friend 'r
Hi,n-y enough dne ou e California BULL Francisco.
y bl sTst, @ L C5,ig5G has noi mory snog fr her
have f-.led tLa Fs s,,rl. % 49, S - a'' i @n'n n ~ eeiacHS
great a. I
a"d doubt tie rness q breaking my arru
reu 10y introducing arguments wien have # / chose
the oIuE debate answer an points they nav
nrns up VIII, as much force ns answering their OH
meit lie then quotei from Mil. l72, vol another
th"r,iy Ai'm smith sad that gold.
I,sTea,l anil - - - % " set ''e slt o ''is sroini
wanted Us to issue it safely That +. u.t what g wt t
do hut he does show his try e to
indefinitely postpone the first section Of
M "oFi pass as want to save the nation at least $4,000 in
the next two in interest alone. say
are right according to rules and poor
I - ma % S IS E"t ss +" currency ana would lay IN
y 70 li IeiiIH l'n5 ti' money was h""inr III all the
er paper VIII not take the rlce of ga in .ri,nge non
tat point do understand hc say
uat with cur paper We cannot pay our foreign debts he Is
very Correct But in my view he saIprhcnd the Il
TSs.n2- anil he may perhaps teach me sometime about it,
OF course We cannot pay our debts IN America or EUROPE in
Bank Of England believe is said to be pretty sound
institution We're Aessrs Janiou Green Co, who "f
the first petitioners against the bill from Mr.. Jao.
L,nfon, London bank notes they might pass
note j. w, valuable Ia article iiTe the minister unIcrtonE
some length to explain the matter Of eScHnEe II have
made views regarding exchange that wealth
fool IN enough consisted h- and
Of the country will say that the capital Of any coulry its
.rct. which are brought out bv the bone ana snew Of t-
people There1Tr from these data come To this conclusion
th1t our small issue of Hills i"prec fe it - because the
pie caunry worth nothirg and help But
ihey depreate unless Ioan all that have 10 oan
and when there Is nothing leii It = about a' vel II 1t dd de-
rrgcatr. To continue argument II the nation paul out
IN y 10 II l m IN n mn "a iii ' q I'm,
he in Arueri
Hawaiian bills Hi be worth everything
debts here and American sreubacks pay
TIE interests this country sacrificed for the
Of t'o three Fo deal in eSei. - hey loard
en and twenty-five cent profit The los
j. mo-; fI y parties whole For instance
buy horse from Mr. & hundred dollars and sell il I"
three q nothing IS lost as the money is among
They say population woul not tske paper
money. would harm them Tn! argument i very Ia
r hos i man 10 receive harm from paper money
Will not take IT, The- gentlemen say ihtt yon VIII
gong t. H',i ~ S, Su lS ~ IN " =, " m s-io, if i-
are he people = Auo-r says that sixty six cents
on yey % 40 2alr 1y I @ u @ r. s1 The statutes Of Connect
i-u require the state shall keep f1r
dollar Issued, cents in gold mean to say That the iIa-
aiau Government is a. good a. any private gentleman l,5
900 OOO and reserve had only f9oO00Oo
aud everybody thought It pretty safe and therefore will lay
Shu4ett. statutes say ror the of 100000 de-
i In a ban;y t9t bank can issue ss25oJ) Massaclu-
20 h. MT I,lHkr1pt get may 100000
placed there in No Il Is IN bonds Of suiHcsut guaran-
have been requested the advantages Of This bill II
against the OH ctipuS AMI then VII
- f5rSh ts aIvaut=es has been said by John
n Calhoun any nation debt on its shoulders
- br, say IL . poiic 10 incur great enerEen
- are near a. han and polite make debt fr the
purpose building roads and bridges AMI dsrs ont ths mar
,gI. v.as built a; great expense taxed
r, '5T tI m Ti Tl wv Whlr Is ,i an IN This Assembly,
so would move sell e-panad- for fur times its cost
!, ever cost offered f5r jos; twice hat it
80. Scrzlen Who wouId like &" 1ny ~
We are staining ~ tiis house fr e' "nl
hey houses hul;. the hartur dIenrd, the h0Tse-N r.
hey say GoI's cake d"n DO that They eSrenl-
Mr. smith moved that tie Committee rise Put to vote and
yI Kbo. said he was ve-v glad some light had been thrown
on the matter but not a. much he should Ae to See aud
reaEer an thoroughly handled great many
have some H',ie f'ut 10 md with the Nohss Mr.
uy thing the h and, after asking the Minister of p
lie mind mu., have ransceai-utaI.
Sa2' l ,zr. ,T Tsa i ~ vo 5, 1 am no. %f IN
'vor of the G5yTuiet going INTO any such mater 10"
-u the Ei,h credit of the Govern L
Iss unanimous is cuIIcuce loyalty
dG-r such matter irota ministers and u
sue paper rnou-y auI in execution goes o.
g Nv attention vas mostly drawn 10 the fnh section of
be bl as il j. contrary country
o. the WIZ the hi is Incomplete Although am
favor o the Government issuing paper yet ii
oud fIvor bH fHa wel!tiy private parties where they Ii
project people losses II the Govern u
certain of raPer In course of time II
paper mag WON, counterfeit bills passed, then the C,
would have cI in I'll their bills aEi issue
d., which might prove z,rous whereas. H
parties issue! tire Is1Iey the Government r0u easily m
mmlad t,m O. call them a the money would f- n tie
-ury % rs.eu them. TIE 10000 for Government o.
something against, j. specially needed
G -1uI spent roads bridges which
uci needed consider improper % enter into sr-cuia L
with G0vrrumeut money Il may look very well upon
execution woull l'S different This
s sole objection issuing PAPER ~
t-sIrI this % would usAe the VI
immunity vsry hard towards them Bot III
i--c private parties nothing do ith the
concerning shogII such step, y
llI bring car the country C'
sr Rarai, ralve that tie Committee til