The Hawaiian gazette., 1893-01-10
Foreign IaSzS.

Of mine, vou kindly published n
your issue q December - lSst- I
wish voa 10 slow me- pl2cs fO- s
few no-s fzc.s. co--oborasIng nv
Own information which I since
found II the l2te Sezttle papers
About 5 vszr zgo, J. r Mac
Donald. President az the Washing
ton Southern RSilway Co. wanted
70 Issue boais IL The purpose Of
giving : large DEVELOPMENT 70 his
ro1dsin the Olympic Peninsula and
Southwestern Washington. 50 IS 10
open thai uch country zn6 connect
II With The various great t-snSco1-
tlnsl-zl Svstsns- Although his
enterprise offered every possible
in6rcensnt 2nd solid guarantees,
be failed 20 obtain the money n
America sn6 wzS consequently
forced 10 20 over 20 Europe. where
he expected 70 plGce one million
dollars OF his bonds IN two months.
But. ewing 70 the crItIczl condition
a 81 tie money markets. resulting
81 inst time from the immense
Barring failure @nd others who tol-
lowed he found everything againSt
him % thst L took Mr-
NscDo1zld ten months 70 plscs his
beads but lie did succeed complete
II. though not sI IN England, IS
Il had anticipated, bu. principally
n Brussels. Ia HsZus and Auster-
dam see02darv money markets,
which ! did not ere1 think OF men
tioninE 81 ST IN ny article Mr..
MsCDolzld confirms nv assertion.
when he reports that # Is s CON-
mon saying zmo1g business uan
thzt they can get money N Auster-
dam when they cant anywhere
else but Amsterdam suffered Sc
verely through the Barring trouble.
Eovevs-- Mr- NacDoaal6 also
noticed the abund2nce Of capital
without adequate opportunities to-
investment 70 which referred, &ld
szys OF this paint that the -Sn0Un.
Of money stored zwzy II those little .
countries Of Holland and Belgium
Is something surprising When I
went there =Ss tod th2t Il on
bonds we've N sE4lle- ds1oninz- .
lions than $500, say $3.50 q $500, 1
they could handle them better, .
ii i the people OF snzu savings
thsv reach Ever uz1 II Holland .
With 5 snzll Pile 70 invest Is
known 70 the bankers
Nov I wish here 70 uzke :
query II private corporation (
like The Washington : E Co IN 4
known outside q that state. zud .
with 10 ofcizT hacking has lust suc- I
eeed=d IN finding. durinz $ uos7
uufavo-able period. one million OF .
dollars n the secondary money 4
markets o. Belgium and Holland
when the money could 20. be 90 R
tzIned N America o. London
would It not have been lust IS easy
-s0d probably much more so-for
s government Ike that OF Hawaii
to raise I o. ) millions On tie
same markets OF the neighboring
ones. for the purpose Of converting
our debt and giving 3 large deve-
lopueat 70 our resources by the
public Improvements We al know
Of roads Ehsrves- landings. water
works. cable. railroad On Hawaii.
etc., Therefore. more strongly
than ever szy that L L 20 Europe
and It's various secondary money
markets not 20 London or Anerics
-shst Hawaii ought to sppezl for
on future loan II Our fnznciers
want 70 serve the country By re
ducing or obligations 10 3 low
and reasonable rate ofinteres1 ; and
1 Do hope that or present Minister
OF Finzles VII hzve patriotism
S1d couno1 sense enough 70 lav
aside. n the Interest Of the eoun-
~ he nov administers al IDEAL
preference CT pzrIzzn feeling Le
my have N fzT0E O Anzrcz q
EnzIznd-
NJ NscDouzid coacIz6ss his
report bF some fzrIher renzrEs
which although 4. bezrinz q
zctly On the szue s1t5ecc- nay pet
Be rad with iHtsrssz b. olr igczI
hnznciers- In dealing E5th lzst-
ness nen ahead c1e finds cut
three things. that Lo1doz ( The
=xseuEvs oEce q tbs Eo-Id :.
present that AEeriez VII rule
he conms-ulzI F1r-d so1e dzv-
md that the izdspe16s-ce b=szeen
al perss q the commercial void
( steadily Increasing / 1z1io1
rznnot I've % Itself even Z Il
wanted To- ! nation sho1IG ct
IL currency upon Z husine=z bzszs
md leave L tbsrs- Ous o. the o.