Evening star., 1895-06-08
many millions have their disadvantages
Let US not covet them too strenously.
Good Story Abolt Spreckels.

the merchants one fine morning to have
Gibson out and their men in before noon.
When afternoon came, Claus was not to be
found. Next day when cornered: Boys,
he said. Its all off-it can't be done" The
way of it this: Gibson had ready
grand scheme for coming million dollars
of silver, with the efiigy of Kalakaua. which
tickled the kings vanity. He promised
Spreckels the job, the latter to keep the
seignorage, amounting to SlJ0,O0o as silver
was then at So per cent, and half the coin
was to be fractional currency. Spreckeis
gobbled the bait, and Gibson reigned five
years longer.
The bright, new coins. minted at the
United States mint poured into the treas
ury for year, and gold rolled out to pay
Spreckeis for them at par. There were
100000 in dollars the like amount in halves
quarters and dimes. Small change has
been plenty here ever since. The govern
ment bought up half million of old silver
in previous circula -five-franc pieces
Spanish quarters and reals. and the like
which they sold for bullion at loss or
$4,000. Mr.. Spreckels pocketed his SloO,OOD
for the seignorage. as a legitimate business
transaction. All this helped to roll up the
wave of popular Indignation and bring in
the new constitution forced up on kala-
kaua in 1887.
Silver Is Liked in Hawaii.
This million of silver currency is rather
more than the country really needs in its
business. There is, however. very large
demand for silver coin. owing to the char
acter of our laboring population. Chinese
and Japanese, especially, must be paid in
silver and nothing else. except gold. which
is not available for the usual small sums
needed. About 100000 of the silver lies
quietly in the treasury vault, represented
in actual circulation by certificates of de-
posit of tine denominations Of 500, $50, $40
and $40. All the coins are in constant cir
cula ton in Honolulu, and even large pay
m
$40 Is the limit of legal tender. Large bags
of silver coin are constantly shipped by the
agents of plan Ia tions to the other islands
for the payment of wages and the retail
storekeepers ship it back to the jobbers in
Honolulu. The amount of silver annually
carried back and forth by the coasting
steamers is about 100000. the freight on
which is 2,2o0 OF course, n far greater
amount is taken from the retailers by the
plantations, and paid for by drafts upon
their agents.
The Honolulu banks give United States
gold for Hawaiian silver at only per cent
premium. United States silver and silver
certificates and greenbacks are at par for
gold. The banks import about $oO,o00 of
geld per month. paid for by sugar exports.
About that amount Is constantly leaving
the country. much of it in coin remittances
by immigrant laborers. From the forego-
ing facts it is evident that a large amount
of silver coin is indispensable to the bust
ness of the islands, not much less than the
$l.000,O0O actually here. Thus far no ser
ious Inconvenience has resulted from the
disparity of the nominal and the bullion
value of the coins, owing, no doubt, to our
ample exports. A lesson may be derived.
how needful a large silver coinage Is in
most countries. A gold monometallist craze
could never have originated here or in
India or Japan.
A New Commander-in-Chief
An important item in the improvement of
the defensive force of the government, is
the employment of competent COM
mander of the forces. Col. r. H. Mclean
arrived May 3. and was Immediately COM
missioned in chief command. He brings
the highest reputation for ability and char
acter. He is quietly Introducing important
changes promotive of discipline and ettic-
iency in the forces. General confidence is
inspired by the knowledge that trained
and experienced soldier is in command.
The cases of Walker and Riclard. claimed
by Lord Kimberley to be British subjects,
are still contested by this government.
Farther search for papers has discovered
for naturalization, although they swore
they had been led to take oaths of al
legiance here in ignorance that they would
thereby forfeit British protection. Other
papers also have been found which COM
plete the identity of their cases with that
of A. NJ. Hewett, whom Lord Kimberley
conceded to be no longer British subject.
If the British claim should be maintained,
the way would then lie open for possible
claims that these men were Illegally con-
victed of treason.
In every case tried by the military COM
mission Neumann, the rebels attorney,
protested against the commission as being
an unconstitutional tribunal. 1t was not
until last week that any farther action was
taken in the matter Neumann has now
filed an appeal to the supreme court to
adjudicate that question in the case of
Prince jonah Kalanianaoie. No doubt is
expressed by the general opinion but what
the supreme court will affirm the validity
of the commission and its convictions. I'm
less this Is SO, the government would be
left nearly defanseless In the exigencies of
rebellion and of martial law. 1t is believed
that martial law carries the other as its
indubitable corollary.
Japnncsc Celebrate Their Nations
Victory.
Tho japanese Of this island have been
expressing their patriotic exul.ation at
the glorious terms of peace with China by
a grand celebration the 11th. In the
procession were men equipped as infantry.
artillery, sailors, cavalry and as soldiers
of the former regime. The uniforms were
brilliant, the horses fine. float was rig
ged in imitation f a steel cruiser. There
was a grand asSemblage at "1ndependence
Park" with imposing exercises and
speeches. attended also by athletic sports
and games. To the credit of these people
excellent order was preserved all day. Spe-
suits to the large Chinese population. The
elation of the japanese is well grounded in
their wonderful, but thoroughly earned sue
cesses in war. All are still waiting to hear
of the result of RusSias severe opposition
to Japanese occupation of Port Arthur and
other points in Manchuria. With our fears
of japanese aggressiveness, We cannot feel
altogether displeased to see Russia call
halt IN her warlike progress. 1t Will do
Japan no harm to feel the necessity for
gong little more slowly.
President Dole has at last summoned the
legislature to meet in special session on
the 18th of June. But for the interruption
and delay caused by the insurrection of
January the session would have been held
much earlier. BY the constitution a lead
ing item of business will be the organiZa-
ticn of a permanent council to take the
place of the present advisory council, but
without the legislative power hitherto in
herring in the latter. This will end the last
element. except the president and cabinet,
holding over from the old provisional gov
ernnent. The legislature will not need to
make appropriations, which are complete
for the present term. The most important
item of business to be brought before this
body will be bill for the proper distribu-
ton of government and crown lands, eSpe-
cially in homestead5 for actual settlers.
This bfl' has received long and careful