The Hawaiian gazette., 1870-05-18
FINANCIAL CONDITION.

The Financial condition Of the Kingdom, together
with the progress made during the last ten years.
shown in the Tables, G to o, inclusive. 1t will be
that there has been a steady increase Of trade
both in Domestic Produce and Foreign Goods; that
business of all kinds has prospered, giving employ
ment to all the capital and labor that able to
command, and that the national wealth has greatly
advanced by the rise in the value of Real Estate and
increase of Personal Property.
Our Exports during the last decade have risen from
SsO7 459.2O to s., ,s5ss3; Imports from ST.,
223, 1895 to 900 O6s.10 The increase has been
more rapid in the Exports than in the Imports. The
balance of trade has always been against until the
present, when, for the first time, the Statistics show
that Exports have exceeded Imports by $780,
29O.73.
This gratifying fact is without doubt, due to the
combined industry and economy of the people. The
increase of Exports is mainly derived from the
development Of agricultural resources, in the cu
tivation of Sugar Rice and Coffee, which are the
chief staples of domestic produce. and must be
our chief dependence for a paying export. The cul-
tivation of these staples has steadily increased des
pite the hindrance of limited and dear capital scarcity
of labor and unsteady prices in the markets abroad
where they have been sent for sale and there is
y in the future. The Export of Sugar has risen
in the last ten years. from 44427l lbs to 1s,3O2,lIO
TBS and Rice from nothing to l,927,s 800 bs, beside
the large amount consumed at home the importation
of Rice having entirely ceased.
BY the establishment of regular Steamers between
Honolulu and San Francisco, the export of pershable
fruits, such Bananas, Oranges Lines, Coeoanuts,
Potatoes, etc., has been stimulated. Though this
trade is at present Of comparatively small value, yet,
by the greater frequency Of Steamers touching at
ports connecting with other countries. it promises
in the future to become very important.
We must look to the soil as our chief reliance for
advance in material prosperity to the cultivation Of
products that will sell readily and proablyin foreign
countries. To encourage agriculturalists and
sist them in their enterprises, has always been the po
Icy Of the Government and the aim Of our Legisla-
tion, and the wisdom Of this course is now proving
ITSELF in the of our Exports Imports.
One of my predecessors, Mr.. Gregg) in his Re-
port of 1850, says " 1t is to the Agricultural and
Planting interests that must chiefly look for get
ting rid of the excess Of Imports No policy
should be adopted 10 fetter them the contrary,
they should receive every encouragement within the
limits Of legislative discretion" This remark is
pertinent to situation to-day, it then. The
of Imports, when this written, amounted
to s624, ,229.47-an excess reversed and carried
to the column Of Exports.
Hitherto, no hindrances have been imposed upon
Agricultural and Planting interests, and if
continue to encourage them, need not fear that
they will decline. They have gained firm footing
soil, and likely with the favofing Of 4
wise legislation, continue to multiply and extend,
bringing with their farther development, decreased
national wealth. Importance and power.
In Table o, will be found a statement Of the av-
erage wages of farm laborers, comparing the rates
paid here with the rates paid in the United States,
England and other countries.
cheapness Of production Of staples is necessary
to enable to export them probably. Our Sugars,
Rice and Coffee must compete with the articles
raised in other countries and which are carried for
sale to the markets where must dispose Of |
The great fertility Of soil must be supplemented
by adequate supply Of farm labor in order to
bic Us to hold our in the disposal Of products
abroad. These considerations should control and
guide our discussions of questions affecting the present
relations Of capital and labor these Islands, The
cultivation Of Sugar and Rice estimated TO give
ployment to So 500 600 Of capital and $500 aborer
The Exports derived from the Grazing interests,
show small increase The profits derived from this
pursuit. as well from the cultivation Of the food
crops Of the country, however, have been enhanced
mainly through the creation Of a home demand.
The Table exhibiting the number and catch Of Ha-
Haan Whalsrs, shows the progress Of business that
~