The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-10-17
t II e
SATURDAY October 18th.
LESSON OF OUR TRADE STATISTICS.

Statistics may be "tiry," but they
are exceedingly instructive if read
Alright. We have heretofore en-
deavored to show from the trade re-
turns furnished by the Collector Cen
eral of Customs. that although
revenue had fallen off trade has
been gradually getting into a
sounder condition. There is an alb
sence OF speculative transactions. and
imports are confined 10 the absolute
requirements of trade. Heavy stocks
Twelve months ago have became
hgnt ones, and in some cases thew
nave run rather low. The in
Terence from this is that the period of
stagnafion is coming to an end,
and that favorable turn NAV be ex-
pected at no distant date. BY this we
DO not mean to say that there will he
any business BOOM" speedily. INIT
That as confidence in the future is
restored, there must be an i'm
proved tone to business, together with
greater activity than has prevailed
Tor the past two years.
This is our reading of the Custom
House statistics recently published.
and we find that our judgment is sus-
tanned by quite a different set of
figures. To show how accurately the
Custom House returns gauge the con-
ditions of trade, we may cite the per
sonai property assessment roll for this
city by way of illustration. The
trade returns show large decrease in
imports and a consequent reduction
IN stocks of merchandise, and the
Tax Assessors books show heavy
reduction in stocks of merchandise
and consequent prospective re-
duction in tax receipts. In other
words, the receipts from customs
duties and personal property tax will
DE considerably less than in the pre-
cedIng year, and from precisely
the same cause. The reduced inn
ports enable merchants to work
OH their old stocks. The ex-
tent to which this process has gone
In Honolulu was explained, in answer
to inquiries, by Mr.. Fred. H. Hay
selden, Tax Assessor for Honolulu.
He states that the assessment of per
sonal property this year in the prin-
cipal business portions of the city, is
in round numbers 100000 less than
1t was last year. The Collector Gen
eraI of Customs shows that the de-
crease in the total value of imports
for the first half of 1885, as compared
with the corresponding period of
1884, was S735, 46S. The almost iden-
tical result obtained from two indie
pendent sources proves conclasiveIy
the accuracy of our reading of the
trade statistics, and justifies the con-
ciusions we have come to regarding
the future outlook of business.
Merchants and the public generally
Will recognize in this statement a
most encouraging sign. 1t may take
some little time before the improved
conditions make themselves gener-
ally felt, because the process will be
OAb A4CACCIOIWdEu we look
only for progress. There is everv-
thing 10 beget and sustain confidence,
and we trust everyone will take a
similar view of the matter. If they
do they will soon witness revival of
business eff gratifying character.
One word, however, i'm conclusion.
Tt will be seen that although the com
mercial and trading interests of the
Kingdom are righting themselves,
the revenue is suffering in the pro-
cess. This is owing to the restricted
sources of revenue. 1t is unfair,
therefore, TO blame The Government
for not spending money in various
directions specified 10y the Legislature,
seeing that it has not got it and that
the revenue gives no promise of
greater elasticity for some time to
come. The personal properly tax is
fixed for twelve months and we
do not apprehend any increase
from Customs duties during the sec
ond half of 1885. a spirit of fair
play, therefore, should induce the