The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1888-07-24
the INTENT OF THE FApER
CURRENCY BILL.

COluulelCl pdHel US u circulating ]
medium" has reported to the House
its opinion of that measure. recon-
mending the adoption of the bill with
certain amendments proposed by
it. After laying down the pro-
position that "the subject of cur
rency is a very important one and
should have the close attention of
the Government, proposition
which nobody is disposed to dispute,
the committee presents the bill
amended to read as follows: "Any
person, corporation, or company of
persons who shall issue any note,
bill (other than foreign bills of ex-
changc), order, check, or certificate
of deposit, in any sum of money
with intent that the same shall be
circulated as currency, shall he
guilty Of misdemeanor, and shall
for every offence be punished by u
fine of fifty dollars
The committee stops at very i'm
portant point; just like the average
preacher, who, after leading you
with polished and elegant sentences
up through discussion on some
profound subject, passes over the
point on which the whole argument
turns with some such sentence as
this: 81 am aware that sceptics and
worldly minded men, indeed, say so
and so; but, my beloved brethren,
Holy Scripture is so very plain on
this point, that it is unnecessary for
me to detain you by" etc. The
committee makes no attempt to de.
fine the meaning of ''with the intent
that the same shall be circulated as
currency" probably, like the par
son, thinking it quite unnecessary,
the bill being so plain, etc. Now,
it seems to the ordinary mind that
"intent" is a very important point
for the purposes of this projected
Act. Will not the Court hold, in
the absence of definition, that the
fact of an order, check, etc., being
circulated as currency is evidence
that such was the intent Of the
issuer! If not, cannot q person
accused of issuing paper which is
circulated as currency escape the
penalty sought to be imposed, by
swearing that it was not his intent
that it should have so circulated?
Whatever may have been the in
tent of the introducer of the original
bill, or whatever may be the intent
of the committee in the amended
measure, if that measure becomes
law it is calculated to cause incon-
venience and work mischief. The
custom of plantation managers has
long been, and still is, to issue
orders on their agents in Honolulu,
with the knowledge that these orders
will be circulated as currency, if not
definitely with that intent. Others
in the country districts do the same.
To be able to do so is very conven-
lent. 1t is a fact that these orders
often circulate as currency, and pass
through many hands before they
reach the persons on whom they are
drawn. For instance, n mechanic
does work for plantation; he is
paid by order on an agent in Homo
lulu; the mechanic buys horse and
gives the same order in payment
the seller of the horse passes it OF
to store keeper in exchange fol
goods, etc. Is anybody injured by
this order circulating as currency
Is it not convenience to be able t
use it in that way?
And yet the Finance Committe,
recommends measure which ren
ders the issuance of all such order
illegal. That is, illegal if the fac
of circulation is to be taken as proc
of intent to that effect on the par
of the issuer. And if not, then
for anything to the contrary in th
bill, any person, firm, or corporation
can issue /. o. U.'s which may, i
the public do not object to so using
them, circulate as currency withou
limit. The issuer lfas simply tC
say "This is not money, but merely
an acknowledgment that l owe yOu
the amount on its face, which | will
pay you on the presentation of this
piece of paper. If you like to pass
it around as currency, and people
are willing to receive it as such, tina
is none of my business, and that i
not my intent?"