The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1889-12-18
Supplement 10 tho Daily BuBn, Wednesday, DsCsmbsr 49, $780,
0UR:AMERICAN BUDGET.
TCONCLuDED.l


Philadelphia refinery will begin to
make sugar tomorrow, the 9TH in
slant, the machinery having been
thoroughly tested in every part.
The men and women under indict-
: ,nent at New York for the electric
sugar fraud have pleaded guilty and
await sentence. This was the most
transparent fraud that has been at
tempted Of late years, yet 1T was
successful in kondon and New
York az we'll. 1t il right to state,
however, that New Workers did not
bite until English capitalists had
bought the so-called secret and or
sanizsd a company to refine sugar
by electricity. The swindlers pro-
cured screenings from q sugar re-
tinery, and exhibited these amor
phous specimens Of sugar as the re-
suit of crystalization by the electric
process.
Following is the Geographic re-
port of the New York sugar market,
Dec. 9Th: Raw sugaris very strong;
centrifugal, 96 test, Ct to 81. Re-
fined is quiet but firm.
JEFF. Davis, President of the Con-
tederate States, died at l2:45 a. IN.
to-day at the residence of his friend,
J. U. Payne, New Orleans. The
immediate cause of death was con-
sestive chill, which seized him the
evening before his death. History
will doubtless do that justice to his
memory, which the passion and pre-
judice Of his contemporaries deny.
With his death the last vestige of
the "lost cause" disappears.
Although the President declared
against silver coinage, in spirit if
not in words, this question is likely
to overshadow all others in the pre-
sent Congress. The majority of
Congress fayors free and uDrestrict-
ed silver coinage, and they are forti-
fed by the declaration of Mr.. Co
uEhen, Mr.. Balfour and other Brit
ish statesmen in favor of bimetal-
ism The truth is, the more this
question is discussed the weaker ap-
pears the case of the gold standard
men. Their policy is shaped solely
and entirely in the interest of usury,
as represented by men and organ
lzations which control credits; and
by virtue of their position in the
monetary world, they are able to
compel debtors to settle in gold or
its equivalent, although these credit
institutions themselves do not pos
sess and could not possibly raise, if
called to q sudden and general ac-
counting, fifty per cent of their Own
liabilities in gold coin or gold bull
lion, for the simple reason that it is
not in existence. The producing
and commercial world is becoming
tired of the gold-sweating process,
and will insist upon double stand
ard, or bimetalism, on fixed ratio
of weight between gold and silver.
This will establish an equilibrium
of value and give the death-blow to
usury in its varied ramifications and
extortions.
Another scandal around the ma
tional capitol. c. f. Silcott, cashier
Of the Sergeant-at-Arms Of the
House of Representatives, drew
SIS 900 at the Treasury on account
of his Office last Saturday and de-
camped. He is probably in Canada,
OF may be on the briny on his way
to England. He is a Democrat, hut
that is not the cause of his stealing.
The love of money, and the social
triuInphs which money secures, no
matter how disreputably or dis
honestly acquired, are destroying
the consciousness of honor and
honesty in the States. And this
tendency of modern society is not
confined to America. 1t is becoming
universal, SO much so that ultimate
ly the Confucian doctrine, sit is
better to steal than to remain poor"
will be accepted as the standard of
honesty among prefessedly Chris