The Hawaiian gazette., 1902-09-16

|bffU accepted lNi large amounts 10 pay
mcnts boo excess Of its legal tender yrIuc
without discount Upon annexation oi
these Islands no special Act was passc.
boy Congress to lcgalizc the Hawaiian
silver nor was any provision made Tot
It's redemption or rccoinaEe into United
States money but the fun face value OF
Hawaiian silver as "a coin, at par with
United states gold has been MAINTAINED
by the banks and business houses. py
reason Of their 50 accepting II on deposit
and for exchange and all business pur-
poses This the banks have been enabled
tu do by finding an outlet for the silver
.in thu large demands Of plantations and
The outlying districts. The only exception
being that Of a local bank which had a
temporary excess OF silver and offered is
OF / per cent premium for gold.
/ This situation, however. is neither safe
nor satisfactory. As a Territory of the
/ United States our circulating medium
should be uniform with the currency Of
/ the Mainland and should be a United
States legal tender, particularly as no
monetary disturbance would result from
the change; our coins being of the same
denomination, weight and iineness as the
United States coins, and, above stat
ed circulating together with them at par
on the other hand. without United States
legal value behind them. conditions are
the circulation Of our Hawaiian coins and
cause serious financial disturbance. which
would specially affect the laboring classes
of the Territory, who could i'll afford It,
We beg to refer you to the letter of
our postmaster general to his department
at Washington on this subject. AS stated
by him. Hawaiian silver is taken i'm large
amounts by the Island postofiices in pay
ment of money orders, the coin is ship
mo- 20, I,,,,l t,It 4
Government dopository-the First Nation
al Bank. This Hawaiian silver the bank
cannot count as reserve; neither can it be
shipped by anyone to the Mainland and
used for credit in account; for these
reasons 1t might accumulate to such an
extent as to cause serious Inconvenience;
IN fact If from any cause a general de-
mand should be made for United States
legal tender and the Hawaiian silver re-
fused, it would be impossible for the
banks to find an outlet and continue TO
MAINTAIN its parity with gold not that IL
Is not required in circulation, but simply
from not being a legal tender. We would
also call attention to the fact that the
Custom House of this city will not re-
ceiNe the Hawaiian silver in payment of
duties, thus causing inconvenience to the
business community
As remedy for this dangerous and UNI
satisfactory situation we would urge the
prompt passage by Congress of the Act
introduced at the last session, relating to
Hawaiian silver coinage and silver certif-
lcates' . 22io which Is satisfactory and
mvr ,,.r repuireiheh,s OF this TERRITORY
suf,oro1 hrt ti.rn ~ suou uruer ana nave
of transportation and recoinage into Unit
ed states silver would be small to the
Federal Government
We estimate that there Is now left in
q GOO Ooo sa, 5000 nno T., ,',r'I ."'i'ase vi
dimes bovinc o,ti,o,,. 5,So, ",l",, ,o'"' '''e
,ri ms .'''ii'iH unsupported
amount o. r-rt.ol s.. a a,i
T.rritnr,. which o,a,,,' T. ,,'t 'i's
for o,,,, r,c,,ira,,,,t, 10 aui'iclollt
of tho rtowa'an i,ta r ",'U .I
and return ~ ~, CON, r ,,,,,.tI WV,
tr. r. min. i"' VI uI"u"h !"
o,i,, n,,irin,, rs,rt y, -, , "'I" Tyu.u' II,
for silver COIN '''' III al ''''''"Seu uei''""u
V,r,. ros,,,,,r,
80, -, '
riIr, - r. IN 'lS " ~
~, DAMN W hNN Al
D' - M 'ophE'
prsttop . 90 Nashier
Eing,r " ,,,,
"a IoN ~ bNNh' of
All ~ iloNoht ~
10y its PRESIDENT,
,.,,.,,, 1911 bkpWN'
NJ ANA SrhIiE lam
~" IA lMANlSHl'
Manager.
George w smith tber raod tho
staten,ant ~ ,h, ,,a,e,,r..,
to-, ,,.hta, slri Ae'oe'"-
was '"e io''o"lhS'
MERCHANTS MEMORIAL.
u,,..,,,,, !, ~ 1000
IT, ,r. a., S,P' - Nv
pmr,a,, aS H. h,'Ii."' non .: ~
rn,,n,i,,I ,T "a VI, os'er, sun
Cnn,,,,i,,',l ~ ' n' ui'tIu states senate
:, d., va "''''S is'"''us ana ior-
Sirs.NTba ,,,I,.,,,.,
.d,,I,, a,,,i, S''",' "eu, committee
ciatior' re- 49,. ~ 'i'I Ni'Ichahts ASso-
,n,,r ,ii '"',V'u'"' Deg 10 submit LOT
,ioI .,,, ti,, 'He i'II""l"s inei''o-
90 MI I,,,, o,.u''''e anu o'her cohultiohs
w. ,,.r,, ''tI'ot!'
Win ~, .''"V 'i,"' you are c"hNersaIt
- t"'' mat annexation 10 the
,,,'a,,,,t,,',. I'VE, mas icsu''eu III serious
,,',,, |'.ISa! ITSS 70 the Government or ma
H.. VIZ u"tISl'r vi the custom
tI, ISi,,, 49, ,t,i '."' revenue rIceipts !"
wv '''l al 'bNtlUUtnt, ana proceed TO