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Story
June 2, 1884
The Daily Bulletin
Honolulu, Honolulu County, Hawaii
What is this article about?
Honolulu press unanimously opposes proposed charter for Hawaiian National Bank, fearing expanded monopoly like existing Oceanic steamship control, potential Inter-Island traffic dominance, and deceptive clauses leading to litigation and unequal currency valuation.
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HAWAIIAN NATIONAL BANK AND ITS
CHARTER.
For once it appears that the whole Press of Honolulu is unanimous, at least the Saturday Press and Daily Hawaiian have spoken with no uncertain sound. The BULLETIN is in accord with them. The Daily Advertiser awaits further developments and the Gazette, if it possess or prize the jewel consistency, which we have no reason to doubt, is thoroughly committed to opposition to this proposed Act.
If the native papers represent the native opinion, as expressed on the streets, they too are in accord with their English contemporaries.
We do not reckon the Elele, as that is no more genuine Hawaiian than its master.
The occasion, then. of this wonderful and unwonted unanimity is the dread of the consequences of still further enlarging the borders, and strengthening the hands of this "black monopoly."
Already the community has been deprived of the services of the P. M. S. S. Co., passengers and freight between this and the Coast are bound to the Oceanic monopoly.
What if the Inter-Island traffic come into the ring ?
Monopoly, galling as it is, is only one of the evils to be apprehended if this proposed Charter be granted.
"The Act to incorporate" is very elaborate, and, to a first glance, safe : but to those who read between the lines it is far otherwise. Section 21 for instance, so delightfully explicit in appearance, contains within it the germs of unlimited litigation and wrong-doing.
The mere definition of "lawful money mentioned in this Act, as gold and silver coins of the Hawaiian Kingdom, and the gold and silver coins of the United States " might be paraphrased thus: "Silver coins of Hawaii, worth 76 cts., and gold coins of the United States worth a hundred. may be held to be of equal value in the transactions of the Bank !
When such unanimity prevails amongst those capable of forming an opinion, and that opinion is very fairly put forth by the Press. it must be hoped that the sound sense and general welfare of the public may prevail. In the Legislature there are members who obey "active politicians," who have no right to attempt to influence them : others there are who having no opinion at all on financial or political matters have very clear ideas as to dinners and lunches, their hearts are to be got at through their stomachs.
The struggle has been between the two parties. the issue of the contest will be a brightening future on the one hand, or a fat monopoly and a failing prosperity on the other.
CHARTER.
For once it appears that the whole Press of Honolulu is unanimous, at least the Saturday Press and Daily Hawaiian have spoken with no uncertain sound. The BULLETIN is in accord with them. The Daily Advertiser awaits further developments and the Gazette, if it possess or prize the jewel consistency, which we have no reason to doubt, is thoroughly committed to opposition to this proposed Act.
If the native papers represent the native opinion, as expressed on the streets, they too are in accord with their English contemporaries.
We do not reckon the Elele, as that is no more genuine Hawaiian than its master.
The occasion, then. of this wonderful and unwonted unanimity is the dread of the consequences of still further enlarging the borders, and strengthening the hands of this "black monopoly."
Already the community has been deprived of the services of the P. M. S. S. Co., passengers and freight between this and the Coast are bound to the Oceanic monopoly.
What if the Inter-Island traffic come into the ring ?
Monopoly, galling as it is, is only one of the evils to be apprehended if this proposed Charter be granted.
"The Act to incorporate" is very elaborate, and, to a first glance, safe : but to those who read between the lines it is far otherwise. Section 21 for instance, so delightfully explicit in appearance, contains within it the germs of unlimited litigation and wrong-doing.
The mere definition of "lawful money mentioned in this Act, as gold and silver coins of the Hawaiian Kingdom, and the gold and silver coins of the United States " might be paraphrased thus: "Silver coins of Hawaii, worth 76 cts., and gold coins of the United States worth a hundred. may be held to be of equal value in the transactions of the Bank !
When such unanimity prevails amongst those capable of forming an opinion, and that opinion is very fairly put forth by the Press. it must be hoped that the sound sense and general welfare of the public may prevail. In the Legislature there are members who obey "active politicians," who have no right to attempt to influence them : others there are who having no opinion at all on financial or political matters have very clear ideas as to dinners and lunches, their hearts are to be got at through their stomachs.
The struggle has been between the two parties. the issue of the contest will be a brightening future on the one hand, or a fat monopoly and a failing prosperity on the other.
What sub-type of article is it?
Historical Event
What themes does it cover?
Deception
Justice
Misfortune
What keywords are associated?
Hawaiian National Bank
Charter Opposition
Monopoly Fears
Press Unanimity
Currency Valuation
Legislative Struggle
Where did it happen?
Honolulu
Story Details
Location
Honolulu
Story Details
Press and public in Honolulu oppose the proposed charter for the Hawaiian National Bank due to fears of expanded monopoly, deceptive legal clauses allowing unequal currency valuation, and potential litigation, urging the legislature to reject it for the community's welfare.