The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1890-05-13
AMERICAN NOTES.
The situation Oh the Tnrif ga
changed.
Correspondence of the BrLLEriN. I

SAN FRANCISCO. Nav I'd.
There has been no new develop
mcnt on the sugar schedule, the
energy Of Congress, being ccntcred
on the Silver bill. 1t is probable
that u compromise measure will be
passed. The gold ring do not safely
relinqui>h their hold. and rs they
control the Administration it follows
that the Silver men have all uphill
fight from start TO finish. But silver
will win the end. Silver is the pco-
pies money, and far more of it is
produced than OF gold. The Direc-
tor of the United States Mint states
last years product of the precious
metal at--gold, S32, 500, GOO; silver,
bullion value, $1,000. 900. coinage
value, S6i. GAG, Aga. The difference
between the bullion and coinage
value of silver, or 1896, AGA, is
about the measure of the annual adj
vantage gold has over silver under
the existing coinage laws of the
United States. II there were free
silver coinage rs there is free gold
coinage, silver would be on par
with gold, and values OF all eX-
cbangeablc commodities would be-
come settled on higher basis TO the
advantage Of all classes except
money lenders and manipulators Of
credits. 1t is The constant iluctua-
ton of gold which dcprcsscs indus
try, cripples manufactures and
trade, and unsettlcs values gener-
ally.
The coinage law compcls the
Einting Of S2,0OO,O 900 silver per
month, or S2i, 100000 yearly, but
the Government enjoys the profit
on this coinage, rs silver bullion is
bought for the mint at market rates.
Free coinage would give the advan-
tagc to the silver producer, and put
the money into circulation. 1t is
contcnded, and with reason, that
the coin IN circulation does not suf-
flee for the legitimate needs of bnsi-
ness, which condition is to the eX-
elusive benefit OF the credit nstitu-
tons. Fhc banking interest of
course fights the proposal to in
crease the coinage of silver, hence
the absorbing interest taken in it by
Congress.
The preliminary skirmish on the
Tariff was fought on the classified
ton OF wool; but as this proposal
was embodied in separate bill the
Speaker shut off discussion OF the
general measure. a free wool
schedule will be proposed. There
is far more reason in free wool than
in free sugar. The latter would
damage domestic industries, the
former wonll help them. This is
how the Chronicle, in recent issue,
alluded TO the Hawaiian sugar inter
| C>ts:
"A morning contemporary says
that the Chronicle stands alone in its
position on the sugar question
among the papers of this city, either
Republican or Democratic. And
still we do not feel lonesome. The
fact that the Republican majority OF
the Ways and Means Committee
occupies precisely the same position
on the question as the Chronicle
and the reflection that the Other
papers Of the city are making the
fight Of the local sugar ring and tho
Hawaiian planters against the Am
erican people, helps us to bear ON
isolation with perfect equanimity.'
And yet the Chronicle is fighting
the battle of the Sugar Trust in San
Francisco, with which so many Ha
waiian planters have identified
themselves. Its course on the sugar
tariff shows how little consideration
they may expect from the Trus
should it get the upper hand and b,
able to dictate terms. When it was
at the height of its dishonest pros
perity it gave out false quotations
of prices to cheat its Hawaiian as
sociates. 1t does not stop ut triflcs
A sense Of honorable obligation i;
wanting, while according to its owl
contention it has no legal RESPONSE
bility attaching to it. The recen
suit brought against the Trust il
New York to hold its members re
sponsiblc as corporation, will ties
the latter point. Ii the Trust il
without legal responsibility, how
ever, the interest of Hawaiian Ger
titicatc holders in the assets whcl
the final cleanup comes, will no
amount to the value of a kalakau
dollar, because only lawful con
tract will bind them. '1Iono
among thieves" has been discounted
by the Sugar Trust ring in thei
manipulation of trust certificates il
Wall street and among its members
The steel screw steamer Claudinc
$50 tons burden, built to the orde
of Mr.. Claus Spreckels, for tn
inter.island trade, was Launched
March 2nd, according to the Gas
gov Herald. She will be an addi
ton to the Wilder Steamship Com
pany's fleet. The Claudinc ha
been constructed TO the highest elias
of Bureau Neritas, has long poop
monkey forecastle, and large deck
house forward and aft of machincr
Snacp, with shade deck overhead