The New York herald., 1874-08-19
n A w A II.
The New Ministry Acting as a Whole
some Check Upon the Assembly.
The Proposed Reciprocity Treaty
with the United States.
THE FINANCES OF THE ISLANDS.


HONOLULU, July 90, 1874.
The topic OF the past month has been the state
OF the country and upon this subject there has
been strange diversity OF opinion. The man who
is involved sees everything in the last stage OF de-
cay, but this is not strangelt is the old story
OF the jaundiced eye. The comparatively well-to-
DO are also decrying everything predicting ruin
unless something IL done, and he thing to be done
no two can agree upon. The government comes
in for fair share OF abuse because it fails to init
ate something, just what one seems to know.
The credit OF the government being sound, the
planters want II to borrow money and loan to
them at low rates OF interest," for they cannot bor-
row just now at any rate.
A grand foreign loan scheme has been hit upon
as the panacea for all the Ills OF the individual and
the public generally This loan idea has rallied
quite respectable following. or perhaps should
say. had until the ''hard up" captured the scheme
and framed the bill Tor the Assembly that It was
veritable Omnibus Bill; every one was to be pro-
vi1ed for but the takers Of the loan paper money
was TO be 'shoved" upon the community and the
assistance OF future Assemblies was rendered un-
necessary by provision that committee OF i've
or six persons were to manage the finances Of the
country.
THE CONSERVATIVE ELEMENT
in the Assembly managed by amendments to put
the bill into better shape by striking out the paper
money feature and providing that the loan shal
be paid In coin as well as the interest; that the
King and Privy Council shall decide as to the dis
position OF the fund, rate of interest at which 1t
shall be loaned, and all else touching the matter.
The weIl-to-dO are not yet satisfied with the bill
The thought OF having the government in posses.
sion OF million dollars to loan to planters,
graziers, or, In fact, to any one who can give
securities the satisfaction of the Privy Council,
at lower than marked rates OF interest, Is not
pleasant one 10 lenders and plantation agents.
The cry is that 'rings win be formed by which all
tractable citizens will be drawn toward the gov
ernment, and that together they will be able to
freeze out the factlous and turbulent. The cooler
headed ana more far-seeing in the community do
not fear the least disturbance in financial matters.
They say Jhat the govern ment VIII not be able to
loan money at any better rates than the bank or
moneyed men generally on good securities, and
to loan at any rate and that If the government Is
pleased TO take up the chan the evil will soon cure
Itself by bringing government to Standstill.
THE NEW GOVERNMENT LOCAL BILL
The Dill to raise loan and to dispose OF IL for
the good OF the country as 1t now stands having
passed ITS second reading. provides ior borrowing
81, 100000 at seven and three tenths per cent In.
terest per ior ten or twenty years. and to use
IL IN promoting immigration, lnterisland steam
navigatlon, q warehouse system, loans upon island
produce and public improvements generally. The
natives opposed TO king kalakana-caled the
QueeDites on account OIL their adherence TO the
Dowager Queen Emma-dO not ike the bill, look
ing upon it as an attempt to rush the country into
to the United States or some other country Will
!oow They have sent m p petition to the the Assem- Assem-
ening riot In case 1t passes
THE NATIONAL DEBT.
The present debt OF tne country Is $355,00O, not
a large one, when we consider the assets OF the
government. The water works, espanade and
wharves would wipe 1t out and leave O handsome
margin. Il the expenses OF the government can
be kept within the revenue receipts there is but
little danger OF an increase OF debt. The Assem-
not understand economy, and the restraint was
soon broken through, and at the close OF the ses-
sion we find them appropriatlng money most
laviahy. The Ministry are not bound to spend all
the Assembly votes. however, and the next report
of the Minister Of Finance win probably report
back quite an amount or "uneXpended balances"
THE PRODUCTS OF THE ISLANDS.
The report OF the Collector General OF Customs
on the exports OF the kingdom is very encourag-
ing. sugar is gaining ground steadily as to guam
tty; but the price obtained IS too small 10 think
OF with perfect equanimlty The first six months
OF 1874 show gain over the same term OF 1878 OF
2l13. 445 pounds sugar, Ga l55 pounds paddy, 1922
goat sklns, sl4e Bldes S9,797 pounds tail0w and
Il, 3O3 pounds wool Small figures perhaps TO the
most OF your readers, but quite pleasant for our
contemplation.
The question of q treaty OF reciprocity with the
United States is again being mooteu. Some OF the
California papers, notably the ALA CALIFORNIA and
the EItetjn OF San Francisco seem to have re-
Tented and talk quite reasonably OF helping us 70
obtain the boon. bill has passed the Assembly
intended to authorize the King and his Ministers
TO effect Such a treaty whenever the opportunity
offers. without reference TO the Legislative AS
sembly. provision OF our constitution makes 1t
necessary tnat any treaty anecting the tarIff shall
be passed upon by the Assembly before 1t can be
binding. The anxiety to have SUCH treaty was
SO great that majority of the Asssfnolymen voted
for the bill, although warned that 1t conGicted
with the constitution. The Ad0eTttser says that
the vote on the bill VIII not lai "to exercise a
moral edect.n Upon which country Is not stated.
VICTORIA CONGRATULATEs KALAKANA.
About the last ray OF hope that the Queenites
clung to-namey, that the Queen OF England would
interfere in behalf OF TIER candidate, has been
rudely dispeled by the publication OF Queen VIC
toria's etter Of CONTAMINATION to His Majesty King
Kalakana. The tardy receipt OF this letter was
source OF much comfort 10 the opponents OF the
King, without which they are rendered despairing.
Rumorcd threats of another riot circulate about
once q month, but the community is becoming SO
familiar with the threat that it Is treated quite
contemporary. so lar as the general pubic Is
concerned the presence OF the United states steam-
ship Bencia may have something TO DO with the
feeling OF security. so far as Queen Emma is con-
cerned it is generally believed that she is living
lie OF quiet and digni1ed retirement, helping to
nurse her estates into healthier condition.
NAVAL NEWS.
VI ships OF war we have a comfortable compile
ment now in our harbor. From seniority OF ar
rival / note first the United States ship Benicia,
now nearly iour months IN port. Her British
Majcsty's ship Cameleon, Captain Kennedy, ar
rived on the 18th INST. rom CaIlao On the same
day His Imperial Russian Majesty's ship Hay
damack, Captain Irtoff, arrived from Valparaiso
The ships give business like look to the harbor.
as they are busiy reftting. The crew spend their
money as Jack proverbially does, seemingly anx-
ious to be rid OF it
FRIENDLY BEHAVIOR OF HIS MAJESTY.
The captains and officers having had an audience
with his Majesty, and the ice being broken, there
is very pleasant interchange OF civilites between
We hear rumors that the British line of steamers,
connecting the Australian and New Zealand ports
with san Francisco, Is TO be discontinued but
hope that they VIII not prove true.
THE I,hTEST wONDER