The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1894-01-13

tHeu III Improving tneir pOlltlcal ana
social condition. /. e., virtual pro-
tectorate of the other groups.
THE HAWAIIAN COINAGE.
The king was now impatient to
have his 'image and superscriptiop''
on the coinage of the realm, to add to
his dignity as an Independent mon-
arch. AS no appropriation had been
made for this purpose, recourse was
had to the recognized "power behind
the throne" Mr.. Claus Spreckels
purchased the bullion, and arrange
ments were made with the San Fran
cisco mint for the coinage of silver
dollars and fractions of dollar, to the
amount of one million dollars worth,
to be of Identical weight and fineness
with the like coins of the United
States. The intrinsic value of the
silver dollar at that time was about
S4 cents. 1t was intended, however.
to exchange this silver for gold bonds
at par under the Loan Act of 1882. On
the arrival of the first installment of
the coin the matter was brought be-
fore the Supreme Court by Messrs.
Dole, Castle and w. O. Smith. After
a full hearing of the case, the court
decided that these bonds could not
legally be placed except for par value
in gold coin of the United States, and
issued an Injunction to that effect on
the Minister of Finance, December IA,
1888. The Privy Council was then
convened, and declared these coins to
be of the legal value expressed on
their face, subject to the legal tender
act, and they were gradually put into
circulation. A profit of $3.50, 900 is
said to have been made on this trans
action.
THE FIRST RECONSTRUCTION OF THE
GIBSON CABINET, 1883.
Mr.. Gibson's first Cabinet went to
pieces in little over a year. Simon
Kaai was compelled to resign in Feb
ruary, 1888, from "chronic inebriety,u
and was succeeded by j. M. Kapena.
Mr.. Preston resigned the following
May from disgust at the kings per-
sonal intermeddllng with the admin
istration, and in July Mr.. Bush re-
signed in consequence of falling out
with Mr.. Gibson. For some time t'the
secretary stood alone" being at once
Minister of Foreign Affairs, Attorney
General and Minister of the Interior
ad interim; besides being President of
the Board of Health, President of the
Board of Education and member of
the Board of Immigration, with near
ly the whole foreign community op-
posed to him. The price of Govern
ment bonds had fallen to 75 per cent.
with no takers, and the treasury was
nearly empty. at this juncture
august 81, when a change OF Minis
try was looked for, Mr.. e. Z. Gulick
was persuaded to take the portfolio of
the Interior, and a small loan was
obtained from his friends. Then to
the surprise of the public, Colonel
Claus Spreckels decided to support
the Gibson Cabinet, which was soon
after completed by the accession of
Paul Neumann.
THE LEGISLATURE OF 1884.
Since 1882 a considerable reaction
had taken place among the natives,
who resented the cession of Wailuku
to Spreckels, and felt profound dis
trust of Gibson. In spite of the war
cry "Hawaii for Hawaiians," and the
lavish use of Government patronage,
the Palace party was defeated in the
elections generally, although it held
Honolulu, its stronghold. Among the
Messrs. Dole, Rowell, Smith, Hitch
cock, the three brothers, Godfrey,
Cecil and Frank Brown, Kauhane,
Kalua, Nawahi, and the late Pilipo,
of honored memory.
AT the opening of the session the
Reform party elected the speaker of
the house, and controlled the organi-
Zation CT the committees.
The report of the Finance commit
tee was the most damaging exposure
ever made to a Hawaiian Legislature.
A resolution of "want of confidence
was barely defeated June 2S) by the
four Ministers themselves voting
ON IL