The Hawaiian gazette., 1888-03-13
OUR CURRENCY.

EDITOR GAzETTE:-The closing of
an article on Our National Currency
in the last Planters Monthly reads:
eve trust that the whole subject of
our national currency will receive the
attention of the Government, and that
some plan may be adopted to secure
the best and safest currency adapted to
the necessities of our country and re-
tain to the public treasury whatever
profit may arise from it.n
The above suggestion would be a
wise course for governments to pursue,
as nothing but the morals of man so
badly wants reforming as the national
currencies of the world.
Although a currency supply is so
essential to the healthy development
and business prosperity of all cOUn-
tries, Governments seem to treat the
matter lightly as though it was of but
little Importance, and the comforts
and happiness of the people were not
depending upon it.
Yet when seriously considered its
magnitude is seen to be so great that it
would justify the Government of this
KingdOm-as small as it is-in APP
pointing a committee of able men
to examine systems of currency and
search for system of national cur
rency that would work without the
evils inherent in all systems now in
use. A reward should be offered large
enough to engage the attention of the
ablest minds of the age, and the offer
should be wOrded about as follows:
ga reward of ......... dollars will be
paid by the Hawaiian Government to
any person or persons who will pro-
duce practical system for national
currency adapted to the use of the Gov
eminent and people of this Kingdom.
"The system must embOdy the fol-
lowing advantages, if adopted
"First-The currency coined and is
sued under the system must be regu-
lated to gold Standard
"Second-Under the system, gold,
silver and paper must be the material
out of which the currency shall be
made.
''Third-Every dollar in circulation
must be worth 100 cents for all pur-
poses of domestic exchange-none be-
low or above par.
Fourth-The system must be APP
plicable to the currency requirements
of this Kingdom, and co-eXistent with
the life of the State
Fifth-The profits must go to the
public treasury.
"SiXth-The circulation of this cur
rency must be such as to increase and
decrease in quantity, so as to conform
to industrial demand-never a surplus
or deficiency"
This Government could afford to
pay largely for a system of currency
that would produce the above results,
and great nations like the United
States or Great Britain could pay
scores of thousands for such system,
and yet make tens of millions out of it
yearly, and their people would be still
more largely benefited than the Gov
eminent itself. 1t must be conceded
that such a system is not now, or never
has been used among the nations, and
to say that it can't be produced is to
doubt or limit the powers of the human
mind. 1t is simply matter of inven-
ton, like producing a new machine or
plan for a costly or an important
building.
1t will no doubt require a concen-
trated, intelligent, penetrating, deep
thought to produce such a system. No
surface examination will ever do it, as
its foundation must he laid deep and
solid, so as not to be shaken by money
panics or financial gales, that shake if
they do not destroy all finance and
currency systems now used. 1t can be
produced and become civilizing agent
of great power among men. Our
present systems-if they are entitled
to that name-belOng to past ages.
There has been no improvement in
Government finance and currency for
several generations.
JOHN NJ. HORNER.
Hamakua, March Sth.