The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1884-12-17

NOTHING shows more clearly the Grass
Ignorance OF our Cabinet than the way in
which they have managed our finances,
not only with regard to our expenditures
which might be met, but with regard to
our currency which is hard 10 meet indeed.
II is very evident that the Government
has flooded the country with silver, has dis
covered what mess has been Of our finan
ccs and is unable to cope with the
question, if it understand it at all 1t
may fairly be acknowledged the Minister
of Finance is totally ignorant of IT. II is
further doubted if the Minister of Foreign
Affairs knows anything of the subject, and
that granted he may have made some study
recently. whether he has the slightest
mathematical ability, or common sense
enough TO understand IT,
Some light on the vexed question of sill
yer coinage may be gained from the re
marks Of Mr.. George A. Butler, cashier Of
the Tradesmans Bank at New Haven, who
spoke before the American Banking Asso-
citation. This gentleman said;
There are two classes which are arrayed in
hostile conditions this question. These classes
art located not only in thus country, but in every
other civilized nation: lst- We have the advoc
aios of the gold standard. ID. The advocates of
bimetallic currency; and third. we also have
nundoscrIpt class, who claim that they are bime-
talists whcu they are the worst kind of monome-
tallists- These are largely TO be found in the
United States.
We have the gold monometallists, comprised in
part Of and controlled by the British statesmen.
Ihe contest Is between the gold mOnOaetallists
and the bimetalliss. The former claim that there
is no such thing a concurrent circulation of the
two metals; that under no conditions can there be
an absolute concurrent circulation Of gold and
silver: that at the best il can be nothing more
than IN alternate standard Of gold aud silver. At
one time or another one will dominate to greater
or less extent. Whether that dominate at a given
time or place viii be so great Hs to cause any
serious disturbances may be questioned. But there
Il the. fact that n class great in influence and
powerful in intellect are nov arrayed against
silver, because n scientific question there is no
the two metals On the other side are the blme-
tailists represented by France and other nations,
and by a classaof not insignificant people in this
country. While they believe that the circulation
will not be absolutely concurrent, that the alter.
nations will not be great 20 cause Any serious
Inconvenience. they believe that silver Is one OF
the money metals OF the world; that as it has al
Ways been used as money, 1t may safely be con-
tinued in used by the establishment Of a common
ratio between it and gold: that they may be held
together by the legislative action and the current
customs Of the leading nations; that the two
metals, silver and gold, may be 50 closely allied To
each other that there shall not be any serious dis
turbance from the alterations that may take
place from time TO time. The third class are
those who claim that they also are bimetallists.
and who are to-day forcing silver upon this couu-
try. They are not bimetallists-but silver instead
of gold, monometallists.