The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-01-22
LETTER FROM Mr.. ]. 0. CARTER.

EDITOR BULLETIN:--An editorial
writer in the advertiser of to-day
processes TO have been somewhat at
n loss as to the treatment best suited
for the meeting held in the base
ment of the Kaumakapili Church on
Monday evening last. Whether to
treat it as broad burlesque or
seriously was the question. The
writer elected to treat it seriously,
and in this showed better sense than
is displayed elsewhere in his article.
SO far as am concerned, it seems
better to treat the political situation
of this Kingdom seriously and
earnestly, and in talking with voters
the fact is forcibly impressed upon
me that they, too, are firing of the
mockery of administration Of public
affairs. So far, then, the writer for
the advertiser, the voters and my
self are agreed. My remarks at the
meeting are said to have been errone-
Gus, absurdly crude, disingenuous,
indicate, in bad taste and indica-
tive of ignorance. All this is a
matter of opinion and l am con-
strained to believe is not generally
concurred in by the public who
attended the meeting.
In regard to the financial condi-
ton of the Government, do not
wish to think that the advertiser
writer is willfully ignorant. That
the writer is ignorant is apparent to
the creditors of the Government,
the parties most interested. / have
not said that the interest on the
public debt is unpaid. do not
think that the Ministers are fools,
whatever else l may think of them.
SO long as they are mendicant bor-
rowers they will hardly decline to
pay interest on money already bor-
rowed. TO say that the Government
bonds ,oW be paid as they mature
is misleading. The fact is that they
haze not been paid as they matured.
A considerable sum of the nine per-
cent bonds has been illegally eX-
tended. If the credit of the Gov.
eminent is as sound as the .4aUer-
tiser believes, why with available
assets worth five times the amount
of the present national debt and
other Governments borrowing money
at five percent-why, may ask,
does not the Government sell its
seven percent bonds and take up the
nine percent bonds. This simple
method of reducing the interest on
the national debt would suggest it.
self to the merest novice in finance.
1t must seem strange to the readers
Of the 1duertiser that persons would
) send money out of this Kingdom
, seeking investment at five and six
, percent interest because they could
, not get twelve percent here, and al
( the same time the Government ha:
, hawked its seven percent, free o.
: taxes, bonds about our streets. There
t must be something rotten in the STATE
of Hawaii. Surely all our money
G lenders are not fools.
D Now, as to the question of ba(
| taste in my reference to the affairs
e of the unfortunate Kunuiakea. Tit
i illustration was not made with any
r improper feeling on my part, ant
0 does not seem to others to have
II been so altogether out Of place a
k the advertiser writer deems it to be
!. AS retort i may be permitted Il
/ say that it seems to me, and Il
IS some others, to be in bad taste Il
Q be so repeatedly taking Colone
l. Spreckels by the coat collar ant
e posing him before this communit.
as the only public benefactor W
# benighted islanders have ever had
y The writer for the Advertiser ha
q my thanks for coming new wor,
Is to illustrate what he is pleased +
r. believe was usurious practice. Thi
% bit of wit salts the whole article.
d Seriously, let me say that whe
# the Government will pay its creditor
q with something better than pre-
4 misses or homilies' on their duty q
h patriots the Government credit wi
,e stand better. The Government mu.
J. not think that all its creditors wi
"a follow the example of poor MI
4 Oakley. Some of them, at leas
ar are made of sterner stuff.
8 j. o. CARTER.
. Honolulu Ian "a 1896