The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1898-09-14
Change Will Not Involve Loss to
individuals.
GOVERNMENT BEHIND THE ISSUE
viii the Money Disappear or Be
Called In-Cabinet-COmmission.
Dimes-Ouarters.

Some time ago the Cabinet Of tna
Republic of Hawaii voted that the
local Government should assume any
foreseen or likely or natural liability
to individuals that should arise in
transferring the financial department
| here along with the sovereignty. No
announcement or publication of the
vote or action was made at the time.
This is the first of it in print, though
it has quite generally been assumed,
| both without thought or remark that
the credit of the country was behind
the money issue and that there was no
occasion for either calculation or
| worry.
Hawaii has had for her own money,
silver only, though the gold of the
United States had early statutory
recognition and the paper and silver Of
that country have always been COM
monty current. There was coined for
the Government here in the year 1883
$1,000,00 of silver. This is all in cir
culation, either in the coin itself, or
in certificates.
Considerable of the Hawaiian silver
has disappeared. But not so much of
it is gone as the casual reckoner might
venture to say. There is a quite large
amount of American silver in use
here. Its importation for some months |
a year and two years ago was heavy |
One shipment of $4,000 American silver |
HnI Ioys
and there have been several importa- |
tiOns of 500 900 of American silver
The greatest use of silver in the coun- |
try is in the payment of plantation |
hands and other laborers. On account |
Of these demands there has been from |
time to time complaint of scarcity of |
the white coin.
One theory of the future in finances
here is that the Hawaiian silver issue
will just naturally disappear, that it
will be carried away in jewelry and as
This opinion will scarcely
bear dissection, though there is, of
no small weight to it. The dis
of the dimes is a really re-
markable incident and is a strong or
Impressive precedent There were
$4,000 of dimes. Today there are no
limes in circulation and they sell at
-wO-bits each and there are no very
leavy holders of them.
Some of the other denominations
nay go the way of the dimes. Try the
quarters. They are becoming scarce in
rade and are beginning to go into Jew
Try and into collections. But there is
100000 of quarters up in the store
'auIt Of the treasury in the Executive | =,
'uildtng. That means 1000 pieces of
he coin and that number will do for a
'ood many belts, spoons, hat pins and
Dollars and halves are so
entiful as currency that the problem
f their exhaustion is not yet to be
onsidered. The dollar is used not a
title for jewelry. The half will last
Ongest of all.
A few weeks ago a couple of promi- d
ent men organized on a corner down 9
own quick partnership to corner the
uarters. They gave it up when they
earned the amount of coin on hand. .
he question or possibility Of counter =
citing the coins abroad has been tax :
n into account only slightly by the :
peratOrS.
On the question of the finances or
be currency, Mr.. Damon, Minister of
nance, said yesterday, that there was
y possibility OF any Individual losing -
Y having Hawaiian silver on hand or
f gaining by speculating in it as
money He said the Commission had =
cen informed that it was estimated
here still existed, available for calling
4 if it was TO be called in, about $780, Z
90 OF the Hawaiian coin. Some bus
ness men, financial factors and cit
zens will say that the shortage from
million is considerably more, but
his figure Of $3.50, ,0OO has been made
fter careful investigation.
It is supposed, though it is not at all
ettIed, that the Commission will /
commend that the Hawaiian silver Ii
e taken up and coined into American n
honey and that there will of course
e only money Of the United States s
ere. a
There is talk in at least one bank t.
ere of abOlishing the distinct gold /:
nd silver accounts in the near future @
here will be no more of the double g
fair after a settlement with the P
nited States is made and officials of t,
lis one house think it would be P