The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1876-04-29
~ NJ


FhiD8f. AFRIL p, 1876.
MOVEMENTS in shipping have been . little more lively during
the week, the arrivals embracing barks Ka Moi. from London,
rowhattan, from Port Gamble, Orion, from Hamburg. and
lonia and brig w II Allen, from Tahiti, steamer Zsarandis.
from the Colonies and to-day bark selah, from Tahiti.
The departures fr the same period have been the vfBs,,
German war vessel. Gr Honzkong. Orion for the g,zp,.f..5.
and Zeallndia, fr san Francisco, Jbe latter taking c,Bsise,.
be freight valued a. %sl9ssOI7, aud quite a large rs.srngs,
list from THIS port This steamer, the first Of the new boats
built expressly hr the service she Is now engaged il. CANE IA
with nearly all her passenger accommodations occupied. 50
that many Of cur people had TO pay high premiums for ua,e
rooms This Is BY no means a desirable state Of affairs for al,
Oat being a way station, we must be ever az the mercy Ct cir
eanstanoes until cur merchants. planters and shippers will en-
gage N joint stock Company 70 provide a steamer Of oar own.
as was suggested u these columns some tine since.
The arrival Ct the bark Ia aoI places the market in fan
supply fah European staple goods, Of which she brings a large
though light cargo. very little Of which is Of bonded good. and
therefore enters Immediately into stock and consumption.
she IL turning Cut the same in usual fine Condition.
Currency matters stin engage public attention, and partly
but more owing 70 the fact that half = million dollars worth Of
sugar Is locked up here awaiting news Of the treaty-as a re-
suit Of The coalition, the rate Of exchange for the steamer u,
san Francisco ulei As high as 3 per cant in some cases. Will.
drafts on New York and London were more favored.
The Committee ofths Chamber Of Commerce appointed las,
week 10 report on the subject Of the valuation Of gold and silver
coins, has not yet reported,-the Gazette TO the contrary not-
Wi'hstaodiHg- By a notice from the Minister Of Finance f,
viii be seen hat the valuation Of he sovereign has been raised
20 i've dollars, instead Of s. 90.
The question OF cur currency has been much discussed dur
Ns All % ne variety OF Opinions expressed shows That
the subject . one full Of difficulty, and the Chamber OF Com
meree doubtless acted wisely In referring the subject 10 a COM
mitee OF ability TO consider carefully. That a gold basis II
practicable Is desirable, there can be no doubt, bu, In former
times some Inconvenience was felt from a scarcity Of circuIa,.
ing medium, and while silver was at a slight discount, which
about covered the cost Of its introduction and served 10 rua,J
against its hasty expectation, it served our purpose well
Only very large and unusual transactions last at a time when
money was gathered into the Treasury vaults have been sub
iect to any Inconvenience, and our exchanges have been sub
jeet TO slight variations; but II silver is going 10 remain al a
high rate Of discount this favorable condition Of things will be
disturbed, and new arrangements may become necessary.
In the meantime, the action Of the Minister Of Finance In
regard 10 soyereigns seems 10 have been wise and prudent,
though not a measure perhaps which viii have very great re-
suit.
II would perhaps prove wise while raising the sovereign to a
value more nearly approaching its true relation to our legal
standard, Cthe American half dOlar) to fix the value OF the
worst Of our silver currency, such az Peruvian soils, CHILEAN
pesos, &c, nearer their true relation TO the same standard, and
thus take from our currency its more glazing Inconsistencies.
By the time the Legislative Assembly will be called upon to
act on this question, we shall have further information upon
the value OF silver abroad, and this will doubtless govern the
action Of that body In the premises.