The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1899-07-18
TRUEPROPERTY. .NOTBOOM
CHANCE TALK OF TWO HAWAIIAN
FINANCIERS.
Good Work Done on Plantations-Why
Successful-Hard Worked Capital.

When | talked with the bankers and
moneyed men of San Francisco" said
Mr.. Damon this morning, they all said
You have a boom on down at your ISL
ands' Now we have nothing of the
kind, and | told them so. If they would
only come down to the Islands, l could
show them where we get our wealth
out of the ground. We are not like their
beet growers who put crop into the
ground, let it grow, harvest ii and then
sit down quietly and allow the ground
to lie fallow for a year or two.
ION Hawaii there is hustle, the days
of putting off to tomorrow are past. We
not only have lands naturally fertile,
but we get the very best out of our
fertile lands. We employ chemists who
study the lands, and are capable of ap-
plying to the land fertilizers, not eN-
perimentally, but scientifically. We
| have the most careful methods of culti-
| walton, the most elaborate means of ir-
riga tion and we employ the best ma
| chinery, improved by our own me-
chanics. Instead of getting only three
| tons per acre, we are getting ten, and
| this, not by any accident, but by maxi
| ing the best use of our natural advan-
| tages.
"These are facts, and they are facts
| which should be drummed into the ears
| of the capitalists abroad, till they real
| ize that the prosperity of Hawaii ia
built upon no ephemeral basis, but rests
upon the fertility of its soil and the
trained skill of those who work it.
| 1T is capital that is needed. Every
dollar of local capital is invested, and
used over and over again. There Is
probably no country in the world where
| the bank accounts are so numerous. In
proportion to the population and the
balances are so small. What does this
show? why that the investors, as soon
| hAfT Oh
way renvest. I will venture to say that
for every $1,000 invested in California,
the same amount of money does three
times the work here
Yes" said Mr. Dillingham;, who hap
pened along and had been listening to
Mr.. Damon's remarks. here those who
have money have confidence. The trou-
BILE in California is that every one is
afraid of the other, and wondering
whether this or that one is not trying To
get the better of the deal. Here we are
honestly engaged in developing the
country
What we want" continued Mr.. Da.
mon. lis to have our condition thor
oughly understood by the solid capital
lists our people here should understand
that we have not touched them yet. The
San Francisco purchases of our stock
have, up to the present been almost
purely speculative. We need to be or
a much better basis than we are yet
But the idea that our ventures are
'booms' is erroneous. There are no bet
ter nor more solid investments than th'
Island sugar securities. Even under
adverse circumstances they will pay &
diVidened"
And Mr.. Dillingham; went off con
sidering the best scheme for bringlnL
) our securities before the mOneyed ner
of the East. And knowing Mr.. Dilling
ham, it is likely he will succeed, while
Mr.. Damon is evidently very mucf
alive to the financial needs of the coun
try, which he has perfect faith in.