The Hawaiian gazette., 1885-03-04
The Chamber of Commerce Speaks-No
Body Answers.

The Chamber of Commerce Speaks-No
Body Answers.
The f0lIo-inc Istter has been addressed 10 the
GOyeEuTzsut By Committee Of the Chamber Of
Commerce:
T. II. EEos7lsa1g yeta Y. Kares1. n. HI-
-7rifEs N7iesig-s KfHisfsr ri FiHEHas-SIs: 4.
Your EUcsllelcyis Request We have the honor 70
state the terms Of the proposal placed verbally
before NOur Ercellency this morning. for the
fscltztion Of the maintenance OF financial eluili-
brICm II the Currency Of TIE Kingdom
NeCndsrsiznd that the members Of the Chamber
Of Commerce are prepared TO undertake TO accept
and circulate silver certificates above ten dollars
dissemination equivalent TO gold, If the Govern
Delt sill undertake 70 deposit a margin Of SIX
teen pei cent on all silver COINS held against said
certificates;
PROVIDED. however, that the treasury viii make
due provision for the redemption OF the certificates
IN gold on sorue definite and reasonable terms
II appears 70 u 70 Be al tie very foundation of
any syCtem that the holder Of a certificate should
hsye absolute confidence his ability 10 get gold
II an emergency, for his paper. We therefore
sugCest that the Government undertake. that in
the event Of the gold IN the treasury being e1-
hausted- thsy vii pay, within definite time from
Presentation Say sufficient 70 enable the Govern
ment 70 procure the gold all certificates IN gold
A. d check upon IudiscTIminate withdrawal Of
gold ve would propose that all applications for
redemption Of certificates IN gold De made. 50 far
- practicable, through one OF tEO housss-ssy
Bishop q Co. and W q. IrEin d Co.
Il is further understood that the Government
Elll consent 10 the appointment by the Chamber
Of Commerce Of Committee as Auditors of the
accounts knoEn II the Treasury books a. Ger
ti6cafss Of Deposits and Special Derosits-
and that this COmn:ftee shall have access at al
times % the accounts and the ouiHs represented
By them il i further agreed that any violation
OF the spirit Of this reeuent shall free ali parties
o11csrned from its provisions
We have the honor 70 remain Your E1cellensy's
most ObedTeut servants,
10. C.ETz-
]. HTEAS.
For IHEo II. DAVIES.
THos. X. WELEEE
Committee Of Chamber Of Commerce.
Honolulu February >. lSs5.
To this there has besn No reply but = statement
aIfsiyas,i, has been pabllshed in the Government
Organ which : supposed 10 give some answer 70
II This statement bears 10 signature 1t i mis-
I lezdlne TO the public, and cannot be relied on
by ttose WhO addressed the letter to tne Minister
of FInanee- Ihis method Of replying to 20 res-
polsibls body as the Chamber # Commerce i
more than disrespectfuL The ambiguous reply
rms thus:
NHEAE1s, Il has been represented to His Maies-
tvs Government that much anxiety has been
awakened II the public mind a. 10 the ultimate
resumption Of the Treasury silver certificates
II Unlted States gold COIN
And whereas, the Government has already
PLACID on deposit the sun Of Sz9,7lG.60 fthirty-
nine thousand seven hundred and sixteen dollars
and sixty cents as guarantee FOX the ultimate
redemption OF such certificates zs were represented
/ by silver. IN United States gold coin-
His Ms!s=;y's Ministers, in EisE Of the public
Z interezf- and n order TO assure al holders Of
treasry cefiiasates that proper security has been
provided for the ultimate redemption thereof IN
/ gold coin have non authorized and requested the
Minister OF Finance - place II the special DEPOSIT
IN addition 20 the silver coin therein lying. and
represents the face value OF the outstanding Ger
{ tifcztes not E-UTided for II gold. E1m equal
to sixteen per cent on the auOguf thereof. as Sc
earity for tie cost Of exchanging said silver for
/ gold ooin-
! In accordznce Eith the sid authorization AID
! request. the Minister Of Finance vii Tsy out u
I the funds of the Hawaiian Treasury the sun
neoessary &c provide the said guarantee or mar
gin
And whereas, the destruction cf the Hawaiian
silver coin vii Decesszrily entail serious loss to
the tsI-psying citizens;