The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1871-11-18
oMMERCIAL.
rRIpAK IL. 1s.1.

FRIDAY, Il, ISL
b. IS suIjseJ q remark amongst all classes that goin CON
f. ae-oming very scarce in this community, and various con-
IRE aaoat in reference TO the diminished supply.
rrss Il has not been wirhdra~n through the ordinary channels
al change. To such an extent as to account for the prevailing
tearh Is evident and the question as TO where il IS becomes
enc Z some local interest. We have known what II Is Tor
--ns Ct our wouId-be financial sirategsis to try TO make a
Ger in gold at about this season OF the year when, ordina-
the whaIemeu are getting their bills cashed, but that in
-.asre i wanting unfortunately with Us now There have
ben some heavy transfers Of coin made during the week be-
a cur dealers ia exchange; but IS far as we can learn
r movements have not raised the price Of foreign bills If
ere possible for any one house TO absorb and retain the
a. Il gold coin used here, we should be Inclined to think
rra some such operation was being undertaken, but as "ihe
asIaoee 81 power" amongst our dnanciers is only 10 be dis
ta4bsd by a eoubinaiion, even the fortuitOus circumstances
ult are possessed BY one, will be more than overcome by tie
d-ct ed antsgOnism of the other.
It has been suggested that II the Government wished to
flrcs their silver certificates" Tor paper money-the terms
are sonveribeJ upon the public, they eoud do so by boarding
tas gold eoin and Oaer the aiternative-cat loads Of mixed
.tfger coin or certificates By means Of a couPaeent LegiSla-
r.r. the issue Of th-se CERTIFICATES could be IegaliZsd OF
~o.rse thev woult be used TO cancel all money obligations in
c.red By the Government; and would only cease to be money
van IL was necessary TO procure foreign exchange With The
.-E Of the aoh coin 10 its vaults the Treasury Department
-a-id be ale to dictate its selling rates, were il not for the
tar- that individual Resources here can be brought into action
% 'sstOre the equilibrium. Our market has always been sub
Issl 20 fluctuations, more or less marked, in the supply Of
glI coin in circulation, but az no time has the amount avail
-ie been 90 small, without apparent reason, as at present.
mat the issue Of &" certificates" has had much to DO with this
state Of things IS, we think, evident. Though at the first
lance IL might be thought that these certificates were issued
sn clnsequenoe Of the large amount Of com On hand and for
-5Ivenience simply, yet we think that their tendency has been
ro hive gold out Of the market. As Ing as we had TO choose
bltsaeen goEi ami silver alone, al. large sams at least changed
Eauds in the former shape upon the Introduction Of the certi-
Icates their portability recommended Itself Immediately to
sslEy one. Every dollar that they represented served by just
- mach 10 diminisL. the demand for gold, the imports Of that
melam fen Oh in exact ratio with TIE issue Of certificates,
sBi now it is safe to say that a very large proportion Of the
h5e-vaiue Of the certificates in circulation. represents so much
rld that has sought a market else where in consequence Of
Their introduction.
T question as to fixing the values at which coin shall be
rec we'd here is one that, in the opinion Of some, demands
bE alive action Whatever might be the action taken by
aay ieIberatfve body in this matter, the United States stand
ard , the only one that commercial transactions will accom-
modste themselves to- From oar geographical position, aud
more particularly from the nature of the laws that must al
vayn govern the direction and importance Of our foreign trade,
il IS inevitable that the adoption of any Osher coinage than
hal Of the United states, Is our standard, would embarrass
o.. As regards the fixing of the value Of the fve-franc piece,
re less we tinker with it the better. II it is deprecated twill
ds-sppear from the market if enhanced in value by the
6auaI action Of our law makers, we may expect it TO be
clad amongst our speculative articles Of import, and thus
-4-u.uaHy find its way into the auction room! Besides if we
raise thehve-franc piece to the value of one dollar by Iegisha-
live action, we would be compelled to accept Of its fractional
,ar;s uhe One-frauc and ten-sOus pieces) ranking them with
quarters and dimes The English sovereign had better as
Z value with us here equal to S4S5. Its present value
RELY too Iow, and it is notorious that the margin left be-
tween ITS current rates here and in Australia admits Of its be-
iEg bought for purely speculative purposes. Assume ii to be
worth 81 IS, and it would enter largely into our circulation,
any undue increase being checked by Its being available in
making remittances without the loss now Incurred in cOnse-
elence Of its depreciation to s475. These considerations re-
csi@s Increased weight from the present and prospective in
crease Of commerce between ourselves and the colonies.
Dr. the Chamber Of Commerce the currency question was
daeassed, without arriving At any decided conclusion in the
natter.
IN domestic trade We have but little to report. The dis
faraed state OF the weather on the other islands has in many :
cases interfered with the grinding of cane, and the balance of
thls seasons crop is retarded.
The dizziness Of business consequent upon the loss Of the
alahng feet continues. The demands upon the United States
Icusulate for supplies for the destitute seamen landed here,
ave made him a large buyer of clothing and bread-stuf, and
s. disbursements have amounted TO a large sum which, in
Up our estimate OF the fall seasons loss to this commu-
must be placed to our credit, and diminish the esti-
mate previously made.
Auetion sales Of scrub lots are frequent, and are mainly
up Of stock from small dealers going out Of business.
5 realized are ri IiculousIy low, and country dealers have
D. lance 20 I'LL mp their shelves with the thOusand-and-one
things seqairsd, adyanI1seously.
Nv, Saturday at nOon-
Ta Ioss of some Of our coasting feet has been followed by
ie all fully kept open
the Feuada arrived last evening, we have adyices from
s- sy to Oct g. The market for sugars in all the Colonies
-pr-lrs 20 be OyerstOcked, and prices ruled low with no pros
'.l u a rise we quote from sydney report, !" rations, EFT TO
yellow Crystals, ESS white crystals. E3S TO f3e los;
lulu, no quotations."
-rcKLASD, Nov 3-SUcAR The supply is only moderate,
.i he demand good. At auction recently, Company's Nc. i,
- Irr ID, in bond, std per lib. duty paid white Manntius
~ ais, 3fd TO sd in bond. Holders quote White /
~ ais, std fine yellow counter, AID TO I'D; Honolulu,
ga 10 4d nominal English crushed, Sd to Sid; Dutch,
t1 . Sid Upon these figures there IL very little profit
H piesale dealers, but retailers buying at auction prevent
"a reasonable prodt being obtained by Wholesale houses upon
-
ulring the week we note the arrival at this port Of home
lucts, viz:
49, india aap;cs h.O. ooo
oVhice- bags--.-----.-- 80
Dos.--- - sugar, kegs---.------- 1906
~iiys b3Bs---------- 100 bags.--..-....- 25
FiTewOod and other native freight.
PORT OF HoMoLuLu- h l.