Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1884-03-01

sovereign worth B484, has been
brought here by the hundred thousand,
to circulate at SIS each yet even these
will not stay here, but disappear, as
quickly as if our currency we're tainted
with the leprosy There Is solution.
however to the question, and it is safe.
simple and sure, If we will only adopt
it. and firmly adhere to it. The main
points are these:
First The legislature. which meets
lin April among its first acts should
pass a law, making all dsbh O7er ten
a5li1ty bqjdhh in GHiiyd Si0hg CoR
ogiU after certain date, say July rst
Second 10 provide gold coin, the
above law should enact that from Iune
fst % July rst, a certain proportion OF
dutie, payable at the custom house
shall b. paid in gold coin perhaps all
payments under one hundred dollars
m gold, and any excess above that, one
halt 90 gold. ON and after July fst
the law will compel all payments over.
ca dollars tJ be made in gold.
Third Call in the present issue oil
silver notes, and reissue gold notes, as
the wants OF trade may require, but
issue none Of less denomination than
hity dollars, which will create a de
mand for five, ten and twenty dollar
gold coins The redemption of the
present silver notes will have another
advantage, as it will show the loss in
their circulation 1t is thought that
not less than fifteen per cent or forty
thousand dollars in treasury notes have
been lost beyond recovery and will
never be presented for payment
Whatever the amount may be, it can
be covered into the government treas
ury, ON certain conditions.
Fourth Make American gold and
silver, and all Hawaiian silver or gold
coins or notes, legal tender Call in
all coins OF other nations, redceming
them at the treasury at par values, re-
coin the silver into kalakaua's and sell
the gold coins at what they may fetch
at the mint, the public treasury bearing
the loss. Dcmonctize all other except
American and Hawaiian coins, after a
certain date, fixing their value at the
treasury at fair bullion valuation
The loss accompanying any change of
currency should fall on the nation, not
ON individuals. This plan, if adopted,
will secure for Hawaii a permanent
gold currency with a subsidiary silver
currency without arrangement OF
trade, provided that the government
and all classes of business men Co
operate in bringing it about An inn
Iportant point is that ample notice of
mot less than so days be given, of any
proposed changes in the currency.
Exchange will take care of itself, and
Twill rccede to former rates, fuctuating
from one to one and a quarter per
cent premium, which no one can com
plain Of As to the bugbcar of Chinese
Exporting all our gold, Mr. Judd truth
fully remarks: "But, says the mer-
chant, the Cinnamon will box up the
gold and send 1t to China. A China
man is no different from anybody else
If law and rigidly enforced custom
make him pay all of his debts over $40
in amount in gold, he will keep his
gold for this purpose, as will every one
else"
There are some other points to
which we intended to refer, and may
return to the subject hereafter. As
previously stated the only essential
particular in which this paper differs
from the conclusions of Judge Judd is
in regard to the amoHRf of silver to be
made legal tender We think IS is a
sum quite large enough.