Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1885-05-02
IUI VII HINh

connccicdwiih promincn, San Francisco
banks, which resulted IN the announce
ncr' 10y the present parties together
With I. i. Low, on January ~, 1894,
that they had formed copannctship
for tho establishing of banking house
here lIui beyond tho issuance OF tho
new Hawaiian ailyct COINS the public
knew little ot nothing, and ctc many
months rolled around the business card
ol the banking hrm was Withdrawn
from the various newspapers of this
! city II " fan to presume that this
new effort 10 establish the new bank
means business, and every detail and
convenience seems arranged Ia iacili
tate it4 work That there is y field for
this new cnlcfptiso few people IN our
midNl qucstion, though all arc by no
means yangunc ui the "lifc" that s 10
come rom this opposition, when We con
slider that an old established house here
IN standing by tho United Sln,ea gold
basis FOR business, and that the new
bank t the issue, and defender of the
Hawaiian silver com, the cause Of nll
our currency muddlc and financial
difficulty We hope We may be mis-
taken, bu, We canrot but look with
some degree oi soliciludc upon the
situation tha, at the outset seems Ia be
inharmOnious
In an article upon the opening Of
Spreckcls x Co.'S new bank IN January
Of las, year. this paper deal, fairly upon
tho promise OF the projcc, to the com.
InunI,y free from bias, OF prejudice, OF
any kind ~ II does now though
there arc unfortunately some readers
who think II impossible for us to differ
from them on currency matters without
being pfcjudiccd. Much of the argu.
mcni presented in the article referred
to is as applicable to the situation to.
day as when II was first published, and
experience has borne out as facts the
threatened silver disturbances Of that
time Bu, there arc lew points that,
will bear repetition and pondering upon,
as the following extracts will show
"opposl,ion Is the life Of trade to
a certain point Clearly there is field
here for opposition in the banking busi
ness always provided the opposition
he an honorable one. If there be an
unlavorable feature among the surface
conditions under which the new bank
is established, 1t is the unfortunate cir.
cumstancc that the head of the firm
appears to be at odds with a portion of
| the community Granted
that there be field for both banks,
there is no good reason why the two
institutions should no, work together
lor the common good and their own
profit The public cannot see why Mr..
Sprcckels should have interests that
honorably conflict with MI. Bishops
intercsts-or p,oc pc,ya, Each is a
planter, each shipping merchant, each
a banker II both are honest, both
desire good government il both are
public spirited, each will do something
to bring the community to unite upon
some reasonable policy--some policy
which shall end this present condition
OF pulseless acquicscencc in bad gov.
ernment or impatient defamation
against il. OF course there are some sci
fish folk whoareperiec,ly willing to stand
by and let Messrs. Spreckcls and Bis
hop fight it out"-hoping thereby
advantage to themselves. But these
people are as short sighted as they are
selfish, A competition of that sort,
that should prove ruinous to either Of
the parties TO the fight, would be in
furious to the public generally, and
would probably drag down many indi-
viduals in the final fall :"
We wish every success to the under
taking, and hope its establishment will
restore confidence by the adoption Of a
liberal, sound policy,and the encourage
ment OF legitimate enterprises in the
further developemcnt Of the CONNER
cial and agricultural interests Of these
islands--based as a matter Of course on
the new currency law,