The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1898-10-28
4 NATIONAL BANK
QUulion Of Establishment Here
Under Discussion.
Anaio-CsIfornis People In Entsr.
prise-An Unofficial Opinion.
Native Born rs~alians.

WASHINGTON. Oct 1.-THE organ
isstion OF the First National Bank o.
Hawaii. Honolulu. OF which the Anglo.
Californian Bank OF San Francisco Is
n large stockholdar. have wired here to
ascertain what further steps are neces-
sary to perfect the organization Of the
hank. The inquiry Is based on the sup
position that the terms OF the annex
sation of the Islands having to await
the action OF Congress the status of
the Government In Hawaii may be In
doubt. The question has been mooted
no, through any fear as to an ultimate
favorable decision, but Is rather
prompted by natural precautions TAX
en by men engaging In vast business
enterprises. In the absence OF Attor-
aey General Briggs IL will be imp0s-
sibie to secure formal opinion until
next week when he will return TO
Washington. However the Assistant
Attorney General and the Solicitor for
the Department Of Justice have both
passed informally upon the question
III government now in force in Hawaii
II Is held that territorial powers OF the
United States are now extended over
the Islands, and that our Federal laws
are In full force and effect The Sole
itor OF the Department of Justice fur
sher holds that native-born Hawalians
can be directors in the newly organ
ized bank.
WASHINGTON. Oct. l4-So far as
the establishment of national bank
at this time In Hawaii is concerned, it
~ believed that the projectors will not
insist upon immediate action, as there
will be legislation at the hands OF
Congress specifically authorizing the
issuance OF charter for a national
bank by the time the bank could pos
sibly be established and bank no es
printed for circulation.
Acting Attorney General James e.
Boyd, speaking today OF the authority
Of the Comptroller or currency to Is
sue at this time a charter for a ma
tional bank in Hawaii, said:
What ! have TO say on this subject
is, under the circumstances, entirely
unofficial and upon my personal re-
sponsibility.
''It may be that the Hawaiian Islands
have local laws In regard TO the estab.
1ishment Of banks and other local in
stitutions; but this does not interfer r.
with the right OF the Government 10
authorize the organization OF a ma
tiOnal bank in this territory, because
national banking laws are general and
vest authority In the Comptroller OF
Currency to authorize the organization
Of national banks in any part OF the
territory OF the United States. There
Is scarcely a State in the American
Union that does not Eave some local
legislation authorizing the establish.
ment OF local banks, OF State institu,
lions with banking powers: still THU
does not interfere with the genera
power OF the Government to authoriz,
the organization of national banks In
such States. Such condition might ex-
list in any Territory where there is a
Territorial Legislature. The Legisla-
aure might authorize the establishment
0f local banks, ami yet authority "a
organize national binks wU.ld sill
exist.
"After looking over this matter and
considering 1t and the wording Of the
resolution. with the qualifications
avobe indicated, am of the opinion
that the Comptroller OF Currency is as
much authorized to charter national
bank In the Territory Of Hawaii as In
that Of Oklahoma or Alaska. which lat
ter Is undisputed."