The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1870-02-12

SHIP CANAL ACROSS CAPE CoD-WG lesrn that
a party of capitalists OF ample means have organ
lied their resources for the purpose OF constructing
a shin canal across Cape Cod. a project that has
been much discussed, but which has never before
assumed a practical shape. IL is contemplated to
build the canal in nearly "A direct line from Buzz
zard,s Bay to Cape Cod Bay, through "a narrow
neck of land separating those waters. which shall
afford q sufficient depth Of water IT, float the largest
vessels. The canal will be 800 feet wide and deep
enough 10 insure "a feet Of water Mt low tide. 4
company has been formed to carry ont the enter
nrise. the land surveyed. and other preliminary
measures taken, and they now only await charter
from the Legislature for requisite authority TO COM
mence the undertaking. 1t Is stated that the persons
who prOpose to achieve this important work are
fully prepared to carry 1t out. and ASK for no Pc
cnniary aid from the State in iurtberanee OF the
object. The great value OF the proposed canal to
the commercial interests of Massachusetts will mn
doubtedly commend il TO public favor, az the
importance of such a work has often been shown
during the past few years.
The SOUTHERN COoLIE TRADE-Jobn e. Walker,
the gentleman having in charge the Chinese uDder
contract to work on railroads IN Texas, in a cOnL
muuication to the IT. Louis Republican says: n
marked characteristic of the Mongolidn race is sus-
picion and want OF confidence. This tendency can
only be cOmbated through IA stIict adherence 10
truth and compliance with promises made TO them.
There is little prospect at present that John"
will trespass upon the domain OF Sanlbo TO any Sc
rious extent. Those who have held out hopes OF
procuring very cheap labor by importing IL from
the shores OF Eastern Asia, are. i think. mistaken IN
their conclusions. From one end of China TO the
other the value of labor in America, according to
the California standard. is well known and al
though labor in China is very cheap, able-bodied
men will not engage TO eXtirpate themselves for a
series of years, except on condition Of receiving
such high wages as will enable them to return
home in comparative ahIuence. | am confident no
reliance can be placed upon obtaining aud retain
ing Chinese laborcrs for agricultural work except
at the regular wages of the country where the labor
is 10 be performed and particularly is this the
case for railroad labor. Mr.. Walker believes. how
ever. that a considerable number of excellent la
borers can now be found in California at from S26
to S2S per month where they end themselves. or
from $l7 TO $l9 per month where they are found
in provisions.
MRs. SrowE's NEW BoOK.-The SIM reviews Mrs.
Stoves book says the work. should Z" be called
~ Failure TO Vindicatc Mrs. Harriet Beceber
Stowe" and adds: Without reason or motive
she puts in circulation the nastiestl piece Of scandal
that has been heard for years. and now, when
called upon TO prove il. she falls back upon the
original fabrication Of Lady Byron's mind, wcas-
encd by age and distorted by ~brooding npon her
wrongs, as if a repetition OF this fabrication were
triumphant testimony to its intrinsic truth. She
has achieved notoriety. it il tue, but il is u notO-
riety of which no respectable woman should be
proud The Herald scouts the book. and ascribe-
it To the "nastiness of New England materialsm."
The Tribune thinks Mrs. Stowe " has very nearly
made ont her case" The Times thinks Mrs. Stoves
reputation will suffer most by the book. and deeply
regrets that Mrs. Stowe has been willing TO have
her name handed down to pOsterity as the authority
for one OF the most revolving and indecent ISLANDERS
ever concocted against either the living or the
dead" The World remarks that iii would have
been better for Mrs. Stoves reputation had she re-
Trained from writing this book, since il is an un-
conscious confession that she cannot prove the
statements which she made at the start. Charity
may say that she spoke because she believed yet
it will hold her TO account for having obtained no
valid ground for her belief before she spoke."-
". y. Spectator.
NATIONAL FINANCEs-Tbe President puts for
xrnr1 N Mo fna uu.s.Nfn aanas. ~aH.m, sI..N
shock or friction. 1t is briefly this Let Congress
enact that on a specified day, say February ],
1870, the Secretary of the Treasury shall begin re-
deeming greenbacks in gold ut the market rate
ruling at the time-paying. we will suppose, 7s
cents in coin for each legal-teDder dollar presented
at the Treasury. This rate IL 10 hold for sixty
days, without variation. then, on April ], the rate
of redemption will be changed and 10 cents will
be paid for each greenback dollar presented. This
levcling process is TO be continued, the rate OF dis
count diminishing regularly one per cent. every
two months, or six per cent. a year, until gold and
greenbacks come together and are mutually ex-
changeablo at par-and that will be resumption.
Calling grcenbacks worth IS cents in gold to-day
it would take. by the Presidents plan. about forty
four months. or until Nay. 1873, to reach the foot
of this monetary inclined plane and bring about
specie payments. As the National Bank notes
would continue TO be rcdcemable on demand In
legal-tenders. they would Of course follow the
latter in their appreciation 10 the gold standard
and as the legal-tender notes redeemed by the
Treasury would be withheld from circulation un IL
again sold for coin at the established rate. the
effect would be a very marked contraction of tho
currency for the time being.
Down WITH BoARD.-Thc New York COnuner-
ciai thinks it high time that the price Of board
should be reduced. The editor says
1t is now both at hotels and private houses far
out of proportion to the cost Of living. Prior TO
the war, hotel keepers coined money Mt 50. so n
day. Why should they now charge 81. so and
So, not to mention extras, whose number and
price have increased with the price of board
itself. No hotel now certainly ought TO charge
more than $3.50 or 81, including all extras.
Sooner or later the prices have got to come down.
out of the travelling public every year as they
have since 1861.
Keeping bOarders has been n most lucrative
business in New York for ten years, and many
are the richly dressed jewelled women now pointed
out who have made their ducats within that time
by running establishments. Lodgings which,
before the war, commanded So and so weekly,
have since brought $25 and $50, and even higher.
A young married man and wife could before
secure genteel rooms in gentecl quarters for SIG
or $18 per week. They have since paid $50,
$40, $50 or more. Single men before obtained
good board for SIS, and 81 fashionable board" on
Fifth, Madison, Park and Lexington avenues for
SO and so. Now, the most common apart
ments command so weekly, and board in the
90 fashionable " district ranges from Sl8 upward.
With the fall in breadstufs and manufactures,
and almost everything pertaining to board and
board must fall.