No. 201.
Mr. Daggett to Mr. Frelinghuysen.

No. 122.]

Sir: As the legal-tender value of Hawaiian as well as American silver coinage is limited in the Hawaiian Islands, and as Mr. Spreckels, under his contract with the Government, has already put in circulation here $300,000 in half and quarter dollars of Hawaiian mintage, with the probability of adding $700,000 more, partly in silver dollars and partly in subsidiary coinage, the Honolulu Chamber of Commerce has addressed a communication to his excellency the minister of finance, asserting that a greater excess of silver would operate as an embarrassment to business, and asking, in substance, that no further introduction of Hawaiian silver be allowed without a proportionate withdrawal of other silver coins. (Silver coins are legal tender to the extent of 50 per cent, on a hundred dollars, 25 per cent, between a hundred and a thousand dollars, and 15 per cent, on all sums in excess of $1,000.) A committee from the Chamber of Commerce also waited upon the ministry in the same behalf, and received an assurance from the minister of foreign affairs that the matter would be accorded the careful consideration of the cabinet.

I am, &c.,