The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1884-07-02
Bank Charters, Currency and Banks

EDITOR GAzETIE:-We have looked with some
concern on the conflict going on between the peo-
pie and the parties asking of our lawmakers a
charter for banking and other business. l think
the arguments used against the granting of the
charter pertinent as far as they go, but will
prove short in their Representations Of evil if the
charter is ever granted.
To claim that the charter differs but little from
the Uuitsd States National Bank Act, should have
no weight in its favor, but the contrary should
be rejected for that alone as there is one
thing the United States to-day, frausht with SO
much evil TO the Government and people as the
monopoly known as the National Banks Near
ly every argument that has been used against the
Spreckels proposed bank charter, applies with
equal force against the United States National
Banks, and much more could in truth be urged.
They now constitute the most powerful monopoly
known earth, and they are not slow to profit by
their delegated power.
They control both of the great political parties
That is neither party is allowed to say do any
thing against the great monopoly, under penalty
of defeat. Hence as you may have observed, their
platforms unit on finance matters affecting
the national banks. They rule with firm hand
all the great financial mea sures of the nation.
They have turned the government into one of the
largest money loaning institutions in the world,
and have borrowed from it over 500 10000 which
name, National Banks" and the other backing
| they receive from the government in the redemp-
ton of their notes, etc, make them stool pigeons
/ around which the people gather to deposit their
these banks the control of all tue money; so much
so that they, not Congress, FIX the value of money
If these monopoly schemers had not forced the
! government to burn the greenback and issue the
national bank note in its stead. the United States
would practically have been out of debt TODAY
| and the people not burdencd BY this MONOPOLY
yoke. AL the evils suffered by the government
and people of the United States through their ma
tional bank system, will come down upon this little
Kingdom and people with four-fold pressure. If
this asked for charter should be granted by our
lawmakers; and when our necks once in the
yoke II viii be no easy work TO get from under.
serious revolution is anticipated in The United
States when the people attempt to free themselves
from their national bank yoke. And some san
guine individuals claim that il will cost as much
blood and treasure to get nd of it, as it cost to GET
nd Of slavery Let this people take warning and
stand from under all monopohes of like character
cURREScT
Our currency complications are serious or rroun
Use soon TO be not account of the high rates
OF exchange, but on account of currency thinkers
trying to force dswn exchange by artificial LEGAL
means, and injuring thereby the whole producing
force Of these Islands, confusing our business
which Is regulated to short silver Medium,
and all can pay their help with it and buy and sci
without paying discount; but should either of the
bills now beTore the Legislature to regulate The
currency become law, the people will commence
TO dance attendance upon the brokers' shop some
times to sell sometimes 70 buy legal tender so as
to pay their bills the law directs as well as 10
protect their own interests
This middle seems to have been brought about
because exchange is against importers pleasure
seekers, etc. don't think that suficient excuse
to Justify our Law makers TO attempt 4 cur bv
legal means Anything that can be done by Law
to encourage production and thereby increase our
exports would be justihable, as that is the only
way that exchange can be satisfactorily and per-
manently arranged
This Kingdom is none the less prosperous be-
cause feE have TO pay heavy exchange, as the e.
change e rot gd abTDrd, but one citizen paws il
10 another. The importer marks up his goods 10