The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-10-06

Tor CT cost in the future production OF
sugar this change OPERATES IS follows:
Tie investment Of capital IN any concern
must always be recEzoxed with a. having
Al earning power. The operators Of any
business in making out their annual
statements must count n a. one OF the
ia MS IN cost Of production fair compen-
satron FOR the capital employed II Is
plain that this item VIII De larger the
capital - exparded- II tire case OF the
VIII Be- five times as large as il would
have been IN the drS- Instance 1t VII not
Dc 70 say that part Of the capital . &c
titious and that II wes-tfe smaller capital
thst earned the profits because great
d al Of his capital sock goes onto the
market and passes into the hands Of bona
ndF purchasers AZ the market value based
uIon its earning power. 50 that N one
r use the capital stock really represents
n. larger amount as an Investment and
must be 50 considered IN the future IA Is
IN stirg the cost Of production
CROP ROTATION.
Another item that i wei worth coassd-
er-ng in this connection 4 the future
rroCucflylty Of the land that IS constant
u employed IN growing z single crop
It's Land has TO be heavily reinforced al
ready ~ the use Of fertilizers II IS q
fveL-kroTn doctrine CT sgricElfurists tia.
iEr6 derersorstes under the constant cUl-
.iy ztion Of q single crop. being called Up
On constantly for the same clements or
plant feed II seems almost z certainty
that these lands viii have 70 be given
lCnger periods Of rest. Or be us@d under
- ne system Of crop rotation which Il
either case would lessen the amount Of
land available for sugar cane ALREADY
ruuors Of this kind are more CT less
prevalent
The lands controlled By these piznta-
- - -
PIE. others are held under long leases.
some Of them for fifty years A consider
able portion OF the land IS so held This
portion either belongs to large estates OF
f. Government or Crown land As the
islands become more populous the value
Of these leased lands viii Increase Much
viii depend On what may De the future
policy with reference 70 the population Of
the islands. and upon this policy depends
the future value Of these leaseholds. and
In my opinion. the future utility Of the
Islands themselves 50 far as they shall
. ar a part in carrying out the function
OF our free American government which
understand i 20 br1ng 10 each individual
as much comfort. intelligence and oppor-
trinity for happy home life as Il f. pos
Slfle for government to accomplish.
Some Of these lsasshol6s will soon az
pire. and. as has been stated, some Of
thtm are On lands under the control Of
tie Government The policy adopted in
the future may be one which VIII bring
u ese lands into the hands Of small hold
srs. who would. as Is the rule In this couo-
IT., be men with families which they ara
trying 20 rear. clothe, feed, protect aud
educate IN the approved American fash
ioc. This If a condition which the Arneri-
cans a. a rule would recognize as ideal.
This condition would bring the most and
best population. the most wealth. peace
- -
pfcple- On the other hand. the policy
adopted may be such that these Lands may
b. again controlled or owned IN large
tracts BY the plantation companies In
this case the citizenship viii BE- largely
limited 40 far as the rural districts are
concerned. 20 hired lsborsrs on the plan
"a tons without families This condition
gar industry. and this Is the principal in
dcEtrv.
MAXIMUM OF SUGAR.
The future maximum production Of the
Islands. among those who have given this
sr5Ject consideration. ranges IN estimate
between 45o.t1o and 5Do 60 tons. A large
portion Of this can be produced az z large
profit When the actual cost Of pumping
water Tor irrigation 20 higher attitudes
shah have been determined. then Il VIII
be possible 20 get at the earning rate Of
the various kinds Of land on the Islands
Probably all the lands estimated for the
future production Of the maximum SO 80
tons MI produce cane AZ profit. provid-
INK there Il no fan IN the sugar market.
but rot over half OF thrse-fffhz OF this
Maximum can be produced al q cost near
b 80 low a. the average cost Of pro6uc-
ton IN the Islands a the present tine
Il has been ny attempt in this discus
s-on on TIE cost Of production OF sugar IN
the Hawaiian Isiands-to give the facts.
Possibilities. ard probabilities The re-
sources Of the Hawaiian Islands for rro-
drclng sugar are wonderful I was ir1-
pfeEsed with the gentIemanly denea1or
ID the business saEacity and tact Of
those representing the sugar interests
there. u has undoubtedly required men
II energy 70 build up this Industry a. Il
has been done IN the last twenty-fhree
years They have been men Of business
integrity They have been able to induce
uiiliOrs Of dollars Of capital 70 invest IN
that country. and this capital has nearly
always been able 20 find its reward. They
have been men who have made a study
OF the best resources. methods and appli-
arces- They have had faith in their en-
erTrisez. and their faith has been re-
varded- They have been specially favor
ed: after many fruitless efforts. they
Fl ally succeeded a establishing reciproc-
is between the Hawaiian Islands and the
United States In 1s76. This was practi-
cally the beginning Of Their prosperity.
az II gave them free market near their
shores for their chief product sugar. and
they had water transportation TO this
market The volume Of trade between the
two countries was very favorable 10 them
a. The imports per aunum from the Unit
ei States would not average in value
over half the amount Of products that we
purchased from them This trade bal
srce with the States IL stiT. and VII be
f~rG -, sfrzF~
ne American people have from the be-
ginning expressed satisfaction in the an
ne1 alton of these islands, and have cheer
iIiiy allowed this advantage in trade As
me sugar Industry is gradually developing
IN The States themselves a desire for In
formation as 10 the amount and cost Of
PRODUCTION in our new possessions and
S.be. iacts incident 20 the sugar Industry
nas Deen quite generally manifested. and
this leSitirnate demand for information IL
nss oeen my effort. within the limits Of
my opportunities, 70 satisfy.