The Hawaiian gazette., 1884-04-23
Exchange.

Mn. EDTroR:-There seems to be a good deal of
runipus about the price of exchange am
planter, am sorry to say, and have good deal
less of exchange to sell--or my agent has for me
than l wish had or than 1 expected to have this
year, and that seems to be the case generally. Ny
sugar was worth SIS more ion in San Francisco
on the LIST of January iast-and then IT was low
than it was on the LIST inst falling OF of 10 Der
cent in three months. At the beginning Of the
year the bank paid 2l< per cent premium for my
drafts and now pay five; difference Of only 81
per cent. The importers and consumers of gro
cerles, horses cattle, clothing. lumber silks aces
and iewelry think it very hard to have to pay this
additional % per cent. When / was building my
works had to almost beg for carpenters and ma
sons to work, as well as for lime and some other
material and pay very high wages and high prices
and why! because mechanics and materials want
by me were also wanted by others at the same
time, and were scarce. Just so with horses, mules
oxen, beef-cattle, and mutton sheep; all we're in
demand and the supply was short Did anybody
having labor, material, supplies, animals to SELL
hesitate about charging the highest market pricss
If they did1 did not see them. Now have little
exchange to sell, and | could sell large amount
II had II. IL IS payable in U. 5. gold DIN in San
Francisco, and am paid here for it in silver con
which cost something like s. cents to the dollar in
that city. The silver was allowed to come in free
of duty and cost only about one per cent to import
Somebody's exehange-nOt to say taxes-has gone
to pay for good deal of that COIN and so between
the low price of my prpduce and the payment for
silver, exchange is scarce and high; but is X as
high rs it ought TO be as the circumstances war
rant. Why should l, planter, stand all the risks
and losses, and not take the gain which l have
legitimate right to. Is exchange to be treated on
u different principal from money or anything else
used in businessl If by and by when my crop is
all in and sold, and but little sugar is being ship
ped, should want to use some money in San
Francisco, is il not likely that viii have to pay
more for draft than l am getting for my drafts
now! And surprising that cannot get draft at
all, for am told that not long since Bishop d Co.
absolutely refused to sell, saying that they had al
ready drawn for more than they had remitted,-
what can remit2 On Hawaiian silver, the loss
would be very heavy, because that is not current
there and its bullion value is not superior 70 that
of Mexican dollars. VIII / then be called wise or
stupid-a just man or a "mufF' for having sold
my DRIFTS for less than they were really WORTH
Viii the Minister of Finance give me gold 70
ship away IN exchang for silver Of treasury certi
cate. If be will, think WI find market for all
thai be can furnish, not with me, but with Others
Al ihe rsk Of being tedious, will give ypu
lev items Of my experience, winch viii show
whether OF not do take risks and stand losses
Some Of my cane will have paid taxes twice,
once last year when it was young, and again wEcn
1t viii be nearly ripe this year. In addition to the
value of the land. My buildings AMI machinery,
and everything moyeable are also taxed at full
cash valne part OF my cane which vas taxed
as young crop failed utterly for want Of rain,
few acres were. burned accidently or purposely.
and the ground had been replanted at large eI-
penss. The cost Of lobuf has been extremely high.