The Hawaiian gazette., 1900-11-23
KEEPING THE
GOLD HERE

The problem of keeping the gold here
that would he sent out of the coun-
TRY in payment of customs duties to
the United States Government, is solv
ed partially. The United States treas
, ury has compelled Collector Stackabie
! to forward all the customs receipts to
! the sub-treaSury at San Francisco,
and as all duties must be paid in gold,
. there has been n constant drain Of
gold from Hawaii.
| How to keep the bold here has puZ-
lied merchants and the collector alike.
SO serious did the matter become that
Governor L ole wrote to the treasury
at Washington, and has received the
following reply:
Treasury Department, Division of Public
Moneys, Office of the Secretary, Wash
: ington, November 1, 1900.
Hon Sanford b. Dole, Governor of Ha-
wall Honolulu, Hawaii.
Sir / have the honor to acknowledge
the receipt of your letter Of the 9th in
slant, addressed to the honorable the Sec
rotary of the Interior, in which you state
that there is considerable stringency in
the money market at Honolulu which is
increased by the shipment to San Fran
CISCO Cal, of the Customs receipts.
In reply, you are informed that the law
prohibits the deposits of receipts from
Customs with national bank depoStarieS
and the only way to avoid the shipments
of such receipts to San Francisco is for
importers to cause the amounts to be
paid by them as duties on imports to be
deposited on that account with the AS
sistant Treasurer of the United States at
San Francisco in the name of the Collect
or of Customs at Honolulu. The Assist
ant Treasurer will issue certificates for
such deposits In duplicate and deliver the
duplicate to the agent of the importer and
the Collector will receive 1t in payment
the same as so much money. Such de-
posts may he made in amounts of $1,000
or multiples thereof, and If in excess of
the amount to be paid at one time, the
Collector would pay the excess to the
importer from collections on hand. This
means of paying duties is practiccd at
many ports in the United States and is
convenience to importers as well as
saving to the Government of the ex
pense of transporting moneys to the Sub
Treasury for deposit.
Respectfully.
L. ]. GAGE,
Secretary.
Collector Stackabe said yesterday
that the plan outlined in the letter to
the Governor was already work ng, and
with success The large firms here
which nay out much money in duties
have deposited with the sub-treasury
pay their duties for some future time.
These sums are in the name of the
collector Of customs at Honolulu, to
the credit or the depositors. and the
latter "eceive certificates which are
taken by Collector Stackablc as god.
The RESULT Is considerable gold the
would otherwise be deported, is retain
ed here.
The order under which this plan OPP
crates, Is not a new one, as the follow
ing letter will show:
CIRCULAR CONCERNING PAYMENT
OF DUTIES ON IMPORTS.
Ereasury Department, Department No. s,
Secretary's Office, Washington, ID. c.,
January 2 1879.
To facilitate the payment of duties on
imports, the Treasurer and the several
Assistant Trcasurers of the United States
are hereby authorized to receive deposits
OF gold coin in sums of one hundred dol
lars or multiples thereof, on account of
tificates of deposit therefor in denomlna-
items Of not less than one hundred dol
lars, In the name of the Collector or Sur
veyor of the port at which the duties are
u be paid; and any Collector Or Survey
or. in whose name the certificate Is Issued,
rs hereby authorized to accept ii at par
Tor duties on imports payable at his port,
treating the transaction in his accounts
as II the money had been collected and
deposited by him in the usual manner
JOHN SHERMAN,
Secretary,