The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-04-06
7 II e
TUESDAY {;
HAWAIIAN TRADE, TAXATION, AND
CREDIT.

Bradstreet's" journal OF March 18th
has a long and interesting letter on
Hawaiian trade 1t presents the bust
ness outlook in favorable light, ana
demonstrates the soundness OF our ma
tional trade and credit. The writer
estimates the crop OF 1885, when mar
keted, at 100, 900 tons, which we antlcl-
nate is by no means an Overestimate /
from present indications. The grow
ing crop promises well and the only
doubt regarding the future IS In reference
TO the Reciprocity Treaty 1t Is beyond
ouestion Ithe writer addsl that the
sugar interests OF these Islands nave
been developed by the Reciprocity Treaty
with the United States, and its abroga-
ton would give sugar makers serious
set back, as we'll as probably checking
orr direct trade with the Pacific Coast"
Then follows a careful analysis OF the
trading statistics for 1885, as prepared
by Colonel Iaukea, Collector General OF
Customs, which demonstrate the adVan-
tages conferred upon American trace
by the Treaty. Regarding the result OF
respondent n ddifdifgstl5f says: There
has followed an improved business tone
and restored confidence, with an absence
of the reckless or improvident speculation
that followed the rapid expansion IN
duced by the operation of the Treaty Tor
several years. This general conclusion
is sustained by the fact that 87.29 per
cent of the decrease in imports Is
credited TO the first half OF 1885, as
shown by the report of the Collector
General of Customs The excess o.
exports over imports during 1885 was
1928, IA"
The argument in favor of the Treaty
in this correspondence, based upon las
years trade statistics is cogent, AM
cannot fail to have weight with Con
o,ressnen who stop to consider figures
all Some of them, however, do not d'
this. and think that the highest art Of
craftsmanship is to be found IN the
iudicious exercise of patronage IN thei
own electoral districts.
On the subject of revenue and publ
credit the satisfactory condition OF tn
Kingdom is set forth. After shown
the decrease OF customs duties cons(
quent upon the falling off in duti&hI
imports. the letter continues: 1.-The as
sessed taxes for 1885 amounted
1882. $50. The valuation is ON basis
ok Der cent OF the value to sell as a rul'
and the assessment is One-thlrd OF Oh
oer cent. or 70 cents on each 500 upo
this low valuation The taxation OF tt
Kingdom is therefore mere bagatell
It's public debt is 81 ,078, 800; annu
interest, 500, $40 Is. But the Cover
ment derives 1928, 1873 So yearly fro
public property in the shape OF rent
etc. so that at the present time the
terest on the public debt is about pa
double each year by revenue outsN
taxation. The public property In u
harbor improvements, water works al
lands is worth many millions OF dollar
and when properly utilized, as they a
now likely to be, will become very pr
ductive in the near future. Ali poh
hearing high rate of interest will
paid within the next two years, leaVl
about 500 ,O0J SIX per cent JULIUS $50
an average life of twenty-three yea
The annual interest charged per capl
{ is 70 cents. 1t will be seen therefore
the writer continues, 9Th at this III
Kingdom is in an enyiable position tina
cially. 1t has no local taxation,
practically has no public debt, while
resources are as yet undeveloped exec
over a very limited area"
These extracts give "a general idea
this letter on Hawaiian - trade a
finance IN "Brddstreet's." 1t will
apparent that it's purpose has be
to present Tue exact facts rega
ing this country 10 the outside Wor
and let them speak Tor themsely
This is a very different method fr
what has been adopted heretofore
correspondents and sections OF the 10
press, who thought it would prom
local interests, political or otherwise
fabricating and cireu'tta'5 untruths
the most palPable AMI s5regious cfaF'