The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1893-02-11
ONE EXPLANATION.
General Wiley Tells How the Finan-
ciers Wrecked the Crown.

ciers Wrecked the Crown.
l had occasion to visit the Sand
witch Islands at the same time your
representative, T. T. Williams, was
there for the purpose of looking into
the affairs of that Government with
view to discovering whether the
sentiment of the people was favor
able to annexation or not. My in
designations independent of those of
Mr.. Williams caused me to reach the
conclusion that Queen Liliuokalani
was completely under the influence
of the controllers of finance of -Ho-
nolulu. Further investigation de-
monstrated that this was fact, and
it appears to have been brought
about in this way, apparently by de-
sign. 1t appears that the affairs of
government were proceeding very
smoothly and very little trouble was
anticipated after the country had
recovered from the shock caused by
the death of King Kalakaua.
Those financiers to whom l refer
were the originators and promoters
of the organization in Honolulu of
what is known as the Postal Savings
Bank, an institution which was form
ed for the purpose of getting to-
gether the savings of the native
population in Government institu-
ton, the money to be invested in
public improvements. 1t can readily
be seen that lack of experience in
such matters would cause the con-
trollers of such an enterprise to in
vest this money about as rapidly as
it came in. This offered splendid
opportunity for these fnanciers to
obtain control of the administration
of the affairs of government. As l
am informed, after having protected
themselves by withdrawal of such
capital as they may have deposited
in the institution, they quietly sug-
gested to small depositors the pro-
priety of looking into the affairs of
the bank. Investigation soon de-
veloped the fact that the funds were
paid out for public improvements
about as rapidly as they were paid
in. Thereupon all the depositors
were clamorous for the restitution
of their money, which, not being OBJ
tainable, destroyed the credit Of the
Government with the people.
The Queen was greatly distressed
because of her inability to obtain
funds wherewith to pay her house
hold troops, the police and other
expenses. This created the golden
opportunity that the fnanciers re-
ferred to had been seeking. The
Queen was reduced to the necessity
of obtaining money from them or
not at all, and the price of the pro-
curement of this capital was the
surrender of the control of the gov
eminent to the financiers through
the medium of the ministry to be
named by them. The selection of
this ministry appears to have
brought about the most amicable
relations between the Queen and the
money-lenders, and when left there
it was with the impression that there
would be no further trouble. Had
the Queen been content to submit
to this control there would bave been
no crisis: 1t appears, however, that
being DESTROYS of freeing herself
from the control which was so dis
agreeable and oppressive, she was
willing to encourage the lottery bill
and the bill licensing the sale of
opium. The revenues resulting would
have paid the interest upon the bond
ed Indebtedness of her government,
and large proportion of the other
expenses of the government, leaving
the revenue from customs, water
works and so on as fund which
could have been utilized to pay the
interest on the new issue of bonds, if
such were deemed necessary, but
which could have been used for in
ternal Improvements of considerable
magnitude. Perceiving that the
Queen would secure complete eman-
cipation from their control the fl
nanciers, it is my opinion, have taken
advantage of her hesitancy and
brought about the present state of
affairs. So long as control of the
affairs of government seemed to be
to the advantage of these persons
they were the most enthusiastic and
humble subjects of the Queen. The
moment they discovered there was a
likelihood of the power passing
from their hands they were ready to
wreck the ship rather than lose the
power. 1t is highly improbable that
the Queen would look with favor
upon such measures as the lottery
and opium bills did she not believe
them to be the only means whereby
she could secure speedy relief from
the oppression she was under from
the fnanciers.-San Francisco En-
/ a M ialo,.