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 to 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-
ces, 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. It 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 BRIDESMAIDS 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 on this question. These classes
are located not only in tins country bat in every
other civilized nation: 1st- We have the adToc
aies of the gold standard ID. The advocates of
bimetallic currency; and third, we also have
nondescript class, who claim that they are bime-
tallists when they are the worst kind Of monome-
talists- These are largely TO be found in the
United States.
We have the gold monometallisss, comprised in
part Of and controlled by the British statesmen
The contest Is between the gold monometallists
and the bifnetalists- The former claim that there
is no srch thing 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 alternate standard Of gold and silver At
one time or another one viii dominate TO greater
or less extent WHISTLER that dominate at a given
time or place wiD be 50 great Hs TO cause any
serious disturbances may be questioned Buf there
Is the fact that class great IN inf1ence and
powerful II intellect are nov arrayed against
silver, becauss scientific question there Is no
the two metals On the other side are the blme-
tallists, Represented by France and other nations
and lly classtof not insignificant people in this
country. While they believe that the circulation
VIII not be absolutely concurrent, that the alter
nations viii not be great as to cause any ser0us
inconvenielce, they believe that silver Z one Of
the money metals OF the world; that as II has al
ways been used as money, II may safely be con-
hnued 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
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 10 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 bimstallists-buf silver instead
y Of gold, monometa1iisss