The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1870-01-01

JANUARY L. 1870.
The .eady decline in the premium of gold, as reporter by
late ne s-the last quotation having been IBIS n nAui"'
result the vigorous and economical administration Z" A"ei
can f1. lces by Secretary Boutwell, There can d no 4u'
taoa Do. that the dec Inc will steadily continue, WIN PeiHAr0
aor-a. al temporary advances, until United states ouieH
H.-f Of the same value as gold, and American oo"'S "".
vlu. even than gold. This decline in the premium % s"u
gI X temporarily against the merchants OF the racine
stat nd of these Islands, who depend on American supPheS-'
f.a-ms, h as their trade and profit have been based largely on
ta s5 renee in the currencies. For instance, hose II" P"'
chase. heir supplies in currency at 1S5 on credit, and have 10
s-ttl- ". gold AT nearly par, would lose largely. Inc ony
safe W.. 10 guard aeaius: loss is to buy tor cash only, and
avoid much as possible credits based on American cur
reney. In this way alone can our importers avoid losing by
Tn d. ne in the premium on gold.
l7.. celebrated =. charcoal case" in which the san Fran
cs Gnery undertook to enter 1900 bags OF No. IL sugar
i,., Francisco as Of lower grade, by mixing charcoal with
Tic ST. Il 50 as 10 make it appear OF a darker or miefl gIAue'
Eas o n decided against the company and III iaVor Oh
Aa.e. IN Government. At the time it occurred we denouhc-
ei "a. tttempt to defraud the Government as one OF the most
...-r-d M d;shonorahle sviudles ever brought TO light/
which % honorable men could countenance or ccnnive at p
IS rem ed that the refinery company viii appeal from the
ss,f.st# of the lower Court TO the Supreme Court oil the United
States N the ground that Judge Hoffman,, who gave the de-
CIR r. vas not legally qualified to try the case! A suit that
,t.,-4a on such a weak and untenabIe support, might as well
be ,sa ldoned. The amount involved is about sl24oo one
halfoT which, after expenses are deducted, goes to the Govern
nsrt easury, and the rest among those who gave the informa-
dion % lich NAV amount 10 eight or ten thousand to each.
fr has been introduced into Congress 10 materially re-
6rge e heavy duties on tea, coffee, salt, iron, &c The
chm proposed are to reduce the duty on tea from 20 ts2o
cass pound coffee, from 5 to 2 cents ) pig iron, from SO TO
s1a T., &c. An effort is also being made to reduce the duty
o. ss 7 and molasses about twenty per cent. Of the present
rate
The competition between the Overland Railroad and the
parsr a steam line continues, and results in further redue
tf1.-. II Is reported that wool VIII be taken through from SaIL
Tra-cs SEQ to New York by rail at 81 cents in currency per
fgl-.. though general merchandise pays 8 cents a pound from
New vork to saHArancisco. The steamers have been charg-
fus ,Ht same in gold, but have probably reduced to correspond
uEa tte railroad charges.
The Commercial Herald, Of San Francisco. has an account
fsau u 'eye Witness" which does not speak LvOrably of the
CEjGe5s as sailors He states that in the storm which overlook
The O. ldsn Age on her recent voyage 10 Japan, the Chinese
arera e abandoned the frerooms, obiging the engineers to at
tcra 81, that duty others refused to cut away the hurricane
Ieti Wien ordered, and they could not he trusted for any eff
fee-.e service at the pumps. The ship was thrown on her
u-t-a nds, the fires were put cut in her furnaces, and it was
rl.er 4 wonder she was ever heard from again.