The Hawaiian gazette., 1891-01-27

4
heretofore.
While, however, the fall in prices vii
probably not nearly equal the amount Q
pect a considerable reduction, and on,
which will come entirely out OF profits
On the other hand, there will be som,
compensatory advantages. Large pro
fits are but one of the inducements Il
industrial enterprise. Certainty of profit:
is equally essential. 1t is we'll known
that where there is little prospect o.
reaping the fruits of ones labor and
capital there is little inducement to save
and re-invest or make progress in gen.
eral. Such is the case with those who,
like soldiers and seamen. lead lives es-
pecially exposed to dangers, or those
| whose property is liable to be seized by
the hand of despot or whose crops are
especially liable to destruction by storms
| or droughts, or with whom risk is great
| for any cause. These are extreme cases,
but there can be no doubt that, though
we may not realize it, much of our sugar
industry has grown up under the fear OF
a removal OF all or a large portion OF the
profits at any time by removal of duties
or abolition of the treaty, and that
rs a consequence the rate Of in
terest has been high, much capital
has been taken to other countries,
and needed improvements have not been
made. Hereafter planters and others
will know better what to count on. In
dustry will be more settled. 1t is true
this element Of greater certainty will not
be as advantageous as former high pro-
fits, but it will do much TO offset the dis
advantage of lower profits in future.
The effect of the new law upon other
industries will now be briefly noticed.
And in the first place it may be promised
that the existence of an industry in one
country does not depend so much upon
competition with similar industries in
other countries as upon competition with
other industries in the same country. To
illustrate, shortly after the discovery OF
gold in Australia, there were imported
into that country large quantities of but
ter and cheese from Ireland and timber
from the Baltic. 1t was inferred by
many that the people OF Australia could
not successfully compete in these indus
tries with the so-called pauper labor of
Europe. Gradually, however, profits in
gold mining declined, and at the same
time the dairy, timber, sheep and other
industries grew up. 1t was soon found
that for these industries Australia pos
sessed facilities scarcely equaled else
where IN the world. Labor and capital
always seek that which pays best, and
country may be we'll adopted to profit
able industries which do not exist be-
cause of the existence of other industries
which are more profitable. May it not
reasonably be expected that. with the
decline of profits in the sugar industry
an impetus will be given to the creation
and growth OF many other well paying
industries in the Hawaiian Islands? A
long list of such possible industries,
mostly agricultural but many manulac
turing, might easily be made up
In view of such possibilities our reci-
procity treaty with the United States
should, if possible, be extended to cover
all commodities except those that come
within police regulations. An endeayor
should be made to accomplish this as
soon as possible, not only that the advan-
tages may be enjoyed at an earlier date, |
but because present circumstances are !
perhaps especially favorable to success, |
such treaty being in harmony with the |
policy OF the present Secretary of State, |
Congress at the same time feeling in |
some degree under moral obligations to |
remedy the injury done to the Hawaiian |
Islands by failure, through its own act,
Of the chief consideration for the treaty |
On the part of the Islands, and there be-
ing at present apparently little for the |
United States to lose and much to gain,
The stimulus to other industries not yet |
having taken effect.
While speaking of the indirect effects
IF the new sugar tariff on other Hawaii
an industries, it may be well to remark
hat there are other provisions of the
bill which affect these other
Industries directly and in a favorable
way. Indeed, the retaliatory clause itself
provides that in case it shall be carried
,ut there shall be duty OF three cents a
pound on coffee, ten cents on tea, and
ome duty on hides.
Hawaiian industries are on the eve OF
many other boons. The rail-
cad age has just begun. The trans
,acific cable is more than mere project.
Jew lines of steamers are in view. The
Nicaragua canal will soon be opened. 1t |
fOuAd NC AhbCAOotAh5 " oAOShSo eAOOACNIo
t each of these and many other things
n Hawaiian industries, but they do not
all within our subject, even were there
ime
As a general conclusion from the
remises, we may confidently feel that
be outlook for Hawaii nei is by no means
dismal one; that, though the blow that
about to come upon Hawaiian indus
res is undoubtedly serious, yet there is
luch to compensate growing out OF the
low itself; there are special circum-
tances just now by reason OF which the
everity of the blow will be somewhat
Irrigated, and the blow itself more
asily borne. Indeed, aside from the :
remises, it would be strange if bright
lture could not be expected for coun-
y blessed, as ours is, with such perfec- z
on Of climate, fertility of soil favorable !
ess OF location, and enterprise, intelli- 7
n