The Hawaiian gazette., 1916-04-14
RODERICK 0. MATHESON. EDITOR
Lack Of Confidence

HONFIDENCE. is the cornerstone Ot the COM
~ merciaI world, the foundation on which all
credits rest and credit is the material backbone
OF finance. Capital Investment alone never made
an industry. Hawaii has the accumulated capital,
experience, and skiliin the production OF market
able commodities, confidence in its own ability to
do but lack OF faith in what the government will
permit it to undertake
The sugar industry stands today like high
powered machine, geared and tuned to enormous
potential capacity, ready to undertake heavier
tasks to carry greater loads but without gov
ernor on the engine and nothing to prevent its
parts racing and racking to pieces il the full
power> is turned on.
Hawaii is a conservative community in business
affairs 1t has inherited, conservatism born OF
bitter experience. This is no new land. although
the youngest OF the American commonwealth.
Its present day commercial and industrial life is
the remainder after much wasted capital has been
subtracted. In the last ninety years many in
dristries have grown, lowered and persisted and
Hawaii has become wise and cautious. Youthful
imagination and daring have passed with the days
OF youth. for even though this community is a
: new one from the American point Of view, it had
reached manhOOd'S full estate long before annex-
alton. Its dreams tempered with that con-
servatism which is sef-reliance and knowledge of
Unborn power. 1t weighs promises and judges in
tenton by results. "a n,
And 50 it comes that wise, DID, conservative
y Hawaii does not accept the dreams that others
imagine for it, except as dreams. Experience has
proved that sugar cannot be produced at living
profit in normal times in direct competition with
other lands having certain advantages denied to
all American communities. Mature Hawaiian
conservatism cannot imagine a successful outcome
/. from such direct competition
Other cane countries have cheaper labor. richer
soils and better transportation facilities the first
two advantages being those which cannot be over
come, The principle involved is economic and is
recognized such.
~ By choice, by BIRTH by traditiors and envir"n-
ment we are Americans, holding to certain tenets
Of having belief as they affect the doctrine OF in
dividual rights. having certain ciyic ideals be
leving in the higher standards OF living, educa-
ton and charity. But with all that experience
has taught us that these higher ideals cannot be
maintained ii the commercial Foundation is lack
4 ing The going industries are what feed the
people and employ them with Proft to themselves
and the community. y
Experience has taught Hawaii that its main in
dustry cannot compete in its entirety with land
having certain advantages impossible for t.
obtain. Some plantations could continue to earn
profits with sugar selling at three cents or less
in~the worlds markets. The majority could not
and conservative ftaWan would not attempt It
Our business men would simply seek some other
field of operations and divert much of their
capital as they could salvage, to other industries
LAS long prices abnormal because OF wal
time conditions the planters will take their profits
They would be foolish not to. Delaying the ina
settlement OF the fundamentals on which the in
. dustry has grown up, another four years, does NO
z conduce to faith in the future of the sugar in
,dustry in Hawaii and does not increase the faitl
OF the people OF Hawaii in the political good
. and acumen OF the administration. The war pro
fits OF the next few years something that the
administration did not give and cannot take
from 1t is inevitable that they will some da,
cease and then the economic principles underlying
the proposition will again Tule the situation. Post
ponement of that solution four years does no
create friends for the political party in prcscn
control OF the administration.