The Hawaiian gazette., 1880-07-21
me cursvsey-aa ~ Ealsor'. v,e..

ed BY e,hers as the trade may warrant.
rhe carr~aey-Aa tl1 EalEer'. vie.-
IKE reeeus essccssioa Of the eurrency qaes-
ssoa has sahssaed, without apparently reach
ing Gesnits conclusion, or providing for the
adoption Of any practicable plan Of relief;
and without even making it clear to the pub
he what coarse, If adopted, vould pus our
cnrrency CO hestsr bass than row.
The lass previous discussion Of the currency
took plaee ii lS7e, before and during the
session cf the Legislature, when the currency
ACT Of that year was passed. That law did
not sxpgess the sensireuss Of the press nor Of
he ba<Snsss rnen Of Honolsiu, except perhaps
il cns particular, that Il declared gold TO be
the legal standard Of the country, which bas
had beneficial result 50 far as il may have
helped to establish reputation for rs abroad
Of baviDg gvld standard. slsheesa. in reality.
this Is not 50 Otherwise, tie law proved
harmless, because II was neither approved
ucr sustained By the basiusss men of the city,
oy whcr, Il has been boncred more in tie
breach than IN tie 0bssrYaree. The pzpvi-
sicr in Il authorizing the imposition OF ten
per cent. duty 90 certain silver coins when
imported. IS pernlciCGs one. aud can oaly
resGls (when enforced as has lately been done
with standard Mexican 6ollars,l in reactiss z
Gisss-rccsly 20 ear oSIr Interests rs effects
vii scoR become apparent % all
Although by the above law American gold
Is declared 70 De cur legal Standard and the
basis qf al business here, eur currency still
consists, IL Il did when the law was enacted.
wholly of silver coins and silver certificates
the b1siusss Of the metropolis being tran
saczsd chiefly with paper. and thar of the
country with coin So l0Eg is silver eertii-
Gates are issued, IS AZ present, 70 serve a cur
lsaa;i1g currency, It will De impossible for
gold coins 70 circulate freely here. Neither
American Hqr British gold can by any law or
legerdsE,ilir be made u foaE on 4 commercial
stream With Hawaiian silver notes thu latter
beng the less valuable and lighter viii foaE
CT keep IN eircal1-ion, while the more yalg4-
be god sinks cut OF siybE and disappears.
And peoPle wonder why IL should do 80, and
where 1t goes to If we desire permanent
gold currency, we can have It by AZ oncs
.cltE'riciag sis slL7sT CERTIFICATES, aud isSlilny
godt esrssfalss or aQass. At least, it seems
ucre reaSorahls that geld cui1 Will circulate
4Io1g With god notes.
BIZ Z VII be 1Slksd-,- EoE c1r this be done p
El1iaer by The Government or BY the Bunk Il L
cns ci tine GIzies Of 81 C,lverrmsEEs 70 provide /
currency for the google ELv--z Nd mini, the
EIEal-11 CloTerrlen- Cisc Issue gold notes Secu--
81 y eIc cuL1- as II rrsseE1 o. II Z De ceeEsli
REST. Z Gsley11s rs authority 70 the Bank 70
nss1s r1lc c,f,s l--zs; 11l1uEE. say SsAu.lte,
II Ehe denominations q ten sEgnsy, fifty, one
hz1s:-sc AMI EAJ1lsiEzG dollars. seeUrsc- L
1ns currency CT the National Banks II America 1y
Gsrcsl1 cE SI1TeruzEnE bonds u -hs PUBLIC ErssL-
Su-v- ~ -ns sa1e anrlu-r u the CURRENCY issued
rhs BLlk has hecuEe. BY con-lrn ecnasn1. the
clea-rlg house Of the cogrrry, Ensrs al EIrge
-ra-saeSocs CAT be more cunveEler1ly settled taIa
11vEoere else L L, cCrse,, ,1snllF- 4 money
CENTER. and Il vq1lG seem u be the ucst pruper
11su1ulcE We have II present % u1s1srz4las 1hs
issue CT n,sses, ard 20 provide Ard ksep on hand
Ina cs1L1 EecsssarT "a redeem zhs@ f1r shrsFd
fnIncIaI aoill1T and vigilance VII be rsc1rsft &C
manage tins business successfully.
The business CT al the lending nI1icns Is tra1-
sacSst. c11etT WIKI paper. based gold. and llG
WIN the crin rzselt- So here zhe business Of H2-
cs'-1lI done chiefly win rHper-SilTsr csrEIr-
Giles. Es6irs these. and Issue n ttsIF pi4cs gold
n16ss. Inc zne business cf the euurnry becomes
ac11iEly az1 II haSe- CT gold silver SERVING
L subsidiary currency fsr szIaIlsr zfalsacti1nz
d-1ft rrc cuuczrv Use.
E1s L may bs lsasG-- Eg= are We zQirG d
keep these notes cI-cuIall1Z, as every cns WISHING
70 remit money asrcId. vii Demand the gold c1il
11: Z VII dram - f1rsIzn countries p Ler Il
f-,rir- UllI the SzrsaE1 6l,-s Izz level L VII be
1,e husI1esS q zil,Ee E11 Issue E.e cErlca-Es q
rrras, a FrvT1te and 7ssP sIt-I=1cy et cu1- "a
bEsi11ess u the n1erc-il5 ErgE1ii and kzep gc
hanG alIEie SIrpl-ss To E1eeH the El11s Of k-s
CUSTOMERS. Let the z1iG <gsaErr 1ncs be INT y
crerazlcn--isz the -cl,. srrsau onse oeEr1 ID flow
Int Z VII fIir IA as we'd Is oGE- lie orsiusss q
ziis euCoEry VII zi,en have changed IL currsrcJ
oasls 4l-1ls1 EIFErrEFthty- a1G L vii De 1hf
I11Erssz CT 5iis Government. aut Of the suzrs c7
u11l17- :, an II Sustaining L On Irs new aaSIz
us1saG cr =esk-1g % cErI-Is CT crInp Il. And
NAY De -1a- these geld MITES EgE1 ErrlEe lhCEr IL
GlEfIl f1r traTalsrS and ctlers z3 EaKz Abroad Il
lsasz &c >a-- ErI1risC1, z.E ui1rs nulky cI-ls
=EpecIal-v z zrers Wis IL understanding Wi
lfsH;-lg houses banzS z1Ers rscsTEe ard 6l.s
Et,se of Ei1efa - rsr1rr-nz ErIEeizrs.
As L Seems r1s. al that Il u1E ret.Il-s L -i1t
azI-1,-r-zF Il a1v be ueet5e) a EIz1lraE z-s Ger
E-ica1zs 1fw II cI-;EIidziCn al. Eha a--1CrItF "a
ISSUE =1E1 SErEs. secu-ec d1g=E sT1zges1e6- ol
N s1E1E cG1Er WIZ diaz vii uzsu-E the rri3l1i
a--a1-s5 AZ prEEieis h,EE. 10 zi-s should :,
aG.-ac 1,s - cE--zrerI-lCn Gz1G determination
the BUSINESS of EI5rCta4I MAKE the chang
s1rcEss. This SEEMS ss ne - De zfe 6es5 4 10
zie gIly EzT ID uEruclI:e gold cIrEuIa1Iaz
z1sGz11I- f hs,,rst ggies- 8rEs cIT-aLEn
Frssfg Ttfh sigs- rs-rl fc;I1ss. 11Tpgrrtg 10 De o.
s4ffGE raiits- 5IIf rRflly Jf lsss TEiiis.
Ike aEer VII tiien zIks cara CT i5seiE- Al III
Auerra1 ami crilar srarGar1 SILVER cnf--E los
here. IL Eelt al 11az 1lTF be hrru--ls. VII b.
cetsEI-=si- as 1zE- f1r srrfEIlls the Gi7uuzrT 5r
a1r 5lH--Eazi1n Walls a1I-- EaliE gold VII oe
eHnls acFiaIIE- L u INV GnIY uGI-lzlsIIF- GU
,sgaI 5zIrsr- zlEer VII ssrTE Ii ErTlTzr Gz-1y
s11si--TrF :szil- Dasasei silver elln c, aIEaFs b
FtI1 CUE CT c1-rHa11f,n y zfzEzr--l-1en1 1nrlce
II rsH1HzlE WIN Fuu- gs1riEI11er a7IzI1r-IF, :
zHF hgE sDGn TINS clal-zEe silHl be u1lE;e- II zer
&c 11E II lie Fui'lle srzHssIrT S3ii.lfl 0f q :
zrlt cuu- rzpGrr.=c "a E;iH Legislature bF III
tlnH1cs Committees tlie ei,a1GE a a geld EasI
CHI IL znaefac 'rt5ilsi aEIIstJ fFs. and as IzsE
zs-[1urrzTz -II91raaE- EsI-.er unnnEE zIa5 lIs
os Ii Elnd Is cnI1- tus 81 IGug We n a1
ustss haEe IL ami 70 nnlz az e perf1rTuE al N
6u1EEia1n CT EGnez- q rsnE 5safiey- HE chang
cI7nHlEEs u leGia-uZ zte EzGe Gf the 1ntss :
eirrFIla-lf-E- Efdf EfsJ Dn.fr1lg q ma
-gsi- l1EEzaG 1f sIlFzr, and n grsVlr1zng 51 NEE
szlish F-ls1G ctr1a-1l1- and kEEIzI1.r II.
zucliF zi1az III 1Ts Elerz 11sE5 1s LARK of csu
CT cf uEras- IhEr- and net III zi1sI1- VII
rzugT be zDrG sa--fiLr-4 ba.sls zai.Gi and a
zIETEzrlE AZ zlas IN WHICH Old England: -lE-la
1 lcuurzs- .sI.rsI-rz rssss. NJ NErI1-.