The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1885-12-24

THE YEARS TRADE AND TAXES.

We are not disposed to discuss politics
so near 10 the great Christmas festival,
although our Opposition friends never
take rest We have satisfaction,
however, in feeling that the public are
tired of their abuse and Justification for
political effect, and that they would be
pleased to know how the country has
progressed for the year that is about to
close. From advance sheets of 1.-THE
Honolulu Almanac and Directory" pub
lished by the p C. ADVERTISER, we are
enabled to meet this desire somewhat
fully
Taking the first nine months of 1885,
We find that the exports were almost
three times the amount of the imports.
The figures are:
Imports. nine months .-.... 81. 632, 451
Exports, domestic, nine months 1865, ll6
a country in which the balance OF
trade" is so very much in its favor, can
not be going to tine bad so very rapidly
as the Opposition would have people be-
lieye. In the first nine months of the
current year the credit balance ON
merchandise exchange was 50 ,oS2 800 in
favor of Hawaii. In other words, this
is the difference in value between what
the Hawaiian Islands sold abroad and
what they bought in foreign markets
There is an item of 1861 ,033 - specie
import in the nine months trade,
which is to be placed against ex-
ports, and viii therefore reduce the
credit balance above stated by that
amount, for of course it was paid for by
domestic produce, the exchange on tine
amount OF gold import being net gain
to the bank through which the drafts
were negotiated.
1t appears to Us, therefore, that the
time has fully come when depression in
trade should pass away. There is
really no public indebtedness to speak
OF, and private obligations should now
nearly all be liquidated. This is of
course speaking generally, and without
reference to special or private business
details But there is an element in the
case which should not be overlooked,
and that is the "absentees," who are
draining the country of great deal OF
its wealth, without contributing any
equivalent to its internal improvement
or advancement.
"Absenteeism" was the Course of Ire
land . and perhaps if Sir Robert PeePs
idea of imposing a special tax upon
Irish absentees for the benefit of the Irish
people had been carried out, there would
not now be q social and economic revo-
luton in progress in that country, which
is certain to change the tenure of land
in the British Isles and oyerturn their
entire social fabric. "Absenteeism"
likewise ruined the British West Indies
after ''negro emancipation, and it will
ruin the Hawaiian Islands unless nipped
in the bud. In our case, however, the
"absentees" are not men who brought
capital into the country and invested it
in the soil, and who are therefore en-
titled TO full aud fair return on their
investments they are men who came
here penniless. and taking advantage of
Treaty, made such disposition Of their
private affairs as enables them to live
abroad, and spend in luxury in foreign
countries the income derived from these
Islands.
The total assessment upon the prOduc-
tive industries of the country by absen-
tees is to be deducted from the trade
balance at the end of each year. We
cannot possibly state the figures, but
it must aggregate a large sum. When
this, however, has been written off
there should still remain very sub
stantial balance in favor of the home
country.
The assessed taxes of the country i'll
1885, now in course OF collection, are
mere bagatelle in proportion to its fixed
wealth and domestic exports. We an
mex the tax schedule for the information
of the taxpayers at large, because the
assessment has been attacked in the
tGazette" by writer who was ignorant