The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1900-08-22
COLLECTOR sTACKABLEs HEAVY
SHIPMENTS.
c. M. Cooke Submits to Washington
a New Plan for Keeping the Gold in
Hawaii-Customs Duties.


ritory of Hawaii is a steady exporter Of
gold to the mainland. Since June IA, d
period of about two months, collector
general Stackable alone has sent to San
Francisco nearly a quarter Of 8 million
dollars. The internal revenue depart
ment and private shipments bring the
total up to about 100000. There are no
apparent importations, ana flnanciers
are discussing the outflow IF coin with
a good deal of interest.
The importation of $7J0,000 by Colonel
Macfarlane, for the payment of the
Postal Bank depositors, relieved the
situation for the present, Out that vas
an unusual event The shipments ty
the collector of customs and internal
revenue will continue steadily. These
will necessitate heavy and costly i'm
portations.
G. M. Cooke, who is now in the
States, has submitted to the treasury
department at Washington a plan
whereby the drain might be in meas
ure relieved. The plan is now being con-
sidered by the government. Collector
General Stackable declines to say any
thing on the subject until the depart
ment makes it's decision, but it is
known that Mr.. Cooke and others have
discussed the plan with him.
1t is proposed to place on deposit
with the treasury department at San
Francisco a. sufficient sum to pay what
ever may be due the government from
H)awaii's customs receipts. Hawaii al
ways has money due from the main
land, for cargOes sent there. The banks
here, it is understood, would back Col
1ector Stackable at San Francisco for
whatever sum might be deemed neces-
Sary
Under this system Collector Stack
able would send to the assistant treas
urer at San Francisco his accounts and
vouchers and an order on the fund
placed at his command for the sum
shown to be due the government. Then,
instead of sending to San Francisco the
coin he had collected here for the
months customs duties, he would pay
such money over here, to the banks
which had backed him. The fund at
San Francisco would be constantly re-
plenished by cash due to Hawaii for
cargoes.
This plan would save all the expenses
of large monthly shipments of money
to and fro. Hawaii has no money eX-
cept what comes from the mainland.
Under the present circumstances the
territory will have to import steady
stream OF cash, only to see it go back
to the mainland in gold shipments, sent
by the collector to the assistant treas
urer at San Francisco.
BY the Australia on July 10 Stackable
sent 53,419.47; by the Australia on
August Z, $97 95S.9I, and by the Mari
posa on August II, $64362.S5, an aver
age of over 100000 a month, in gold
sent from Hawaii for customs duties
1t is evident to the financiers that this
will mean heavy importations of gold
or else result in severe stringency. The
total of the collectors expectations is
$215, 1929.
The Australia OH July 10, took $4,-
E22.80 sent by Internal Revenue ColleC'
tor Frick. Since then, in two ship
ments Collector Haywood has sent S1S,'
53023. This is a much less important
drain than the other, though it amounts
to about $4,000 a month, and viii
probably increase. The firm of BishoI
and company exported $5O,OOO in golC
On August Z.
The total of all exports of gold dur
ing the two months, or in fact since
July 10, amounts to $288, 1882. During
the same period there are no records O.
importations, with the exception of thu
money which was brought here by Col
Macfarlane. This was large enough
sum to make the balance still in Ha
waits favor but it was a dose that will
not be repeated. 1t is therefore mat
ter which the bankers are considering
how to arrange to meet the new condi
4 tions. 1t is expected that word will b
received from Washington in the nea
future, regarding the plan OF MI
Cooke.
Among the cargoes of the incoming
steamers many shipments are noted o
cases sent by express, contents not o.
the manifest. The cases might haV
contained coin but large shipments O
money are usually noted as such.