The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1873-03-08

the evils which have dccimstel the Hawaiian people,
or would II increase them ten foldf IL Annexed Ia o
quarter Of q century, you would have 90 hook for .
specimen Of n native Hawaiian among the ancient
burial caves, as ethnologists now look for The mum
mics Of the Guanehes among the caves Of the Canary
Islands
1t is urgel that We arc fast going into bankruptcy
as q nation. This is an assertion without proof
There has been more Improvement in the last i've
years in Honolulu, Wailuku and tho islands generally,
than has ever been in any decade Of the past-than
has ever been since the advent Of the foreigner In tho
same period Buildings have gone up, public and
private. at a rapid rate, and many Of them q a style
that does credit 20 the country. Our whaling hcet
has been augmented in that time, and several indus
trial pursuits have been inauguratef that promise
good results The people have paid their taxes "a
punciually and generally as they ever dad before. II
is true that the loss Of the whaling feet during the
fall Of 1871 and the deficiency in the sugar crop q
the past year, have made some difference in our
export and import trade, and aleo IN the local CON-
mercial business Of Honolulu. But thcso causes of
depression are slight, temporary and in the end not
wholly Instantaneous. IL will teach the people 10
look TO other industrial pursuits, TO other sources Of
revenue, aud probably suggest TO them p lesson In
economy. Commercial disaster was predicted on the
loss of the whaling feet, but It did DOT come. There
were not more bankruptcies aud assignments than
there were IN the years Immediately preceding. The
deficiency in the-sugar crop has not yet caused, nor
will IL cause commercial disaster. Nor will the price
Of sugar always be at as low "A figure as II now Is.
Fluctuations in price, like the deficiencies in the
sugar crop, can never be regulated by annexation or
treaties of any kind. One is the natural result Of
the laws of trade-supply and demand-the other Of
the elements. The present favorable season will re-
place the deficiency in the sugar crop. aud VIC may
reasonably anticipate a higher price in that staple.
There is no extraordinary depression Of business
as compared with the past; no financial crash that
has thrown our people into bankruptcy. Money IL AZ
cheap, II not cheaper in the market than IL ever has
been before. Ten per cent. Is the ordinary rate Of
interest-in rare instances II per cent. per annum.
The legal rate is 9 per cent. when there is no agree
ment for n different rate. The rate Of interest Is
much higher in California and money searcer. Real
estate is higher than IL ever has been and there Is no
diminution In the prize Of goods.
DO the native people complaint Are they not
rs prosperous as they ever have been. We have
not heard them wall over the rapid approach of
their country TO bankruptcy, nor do | anticipate
that we shall hear IL.
The Kildued goes and comes on her intcr-island
trip, crowded with passengers and a fair proportion
OF freight. All our vessels in she ooastins, or inter-
island trade, are doing a fair business. Our vessels
are not rOtting at the wharves, or slowed In ordi-
nary for the want of business. Steamers aud
thai ply between our port and California,
have generally a full amount OF freight aud pas
sengers. Vessels from Oregon and British Column
bia, come loaded with lumber 10 supply our demand
for material for our buildings. Our European
packets come loaded with foreign goods. Cheer
faces of all, except n few oroakcrs OF the Benoni
stamp. who try to look solemn aud cant.
Then why all this cry about drifting into national
bankruptcy
Let us be independent, labor, economics. develop
our own resources and not depend upon outside
gressive, prosperous and the centre OF In
the Pacific ocean.
In my next l will point out some Of the advani-
ages Of INDEPENDENcE.