Mr. Daggett to Mr. Frelinghuysen.
Honolulu , July 24, 1884. (Received August 15.)
Sir: I have the honor to inform you that the bill to establish a United States gold standard in the Hawaiian Kingdom has become a law. It provides that after the 1st day of December next United States and [Page 293] Hawaiian gold and silver coins only shall be legal tender at their nominal value; that all other coins will be received at their bullion value; that the silver certificates of the Government above the denomination of $10 shall be redeemed in gold; and that other than United States and Hawaiian silver coins shall be taken at the treasury at their nominal value and exchanged for United States gold coin. It gives to United States and Hawaiian silver coins a legal-tender capacity to the extent of $10, and provides for the issuance of gold certificates of deposit by the treasury.
Formal notification of the passage and approval of the new currency measure was communicated to me on the 8th instant by his excellency the minister of foreign affairs. A friendly interview with the ministry resulted in the acceptance of the view that the passage and approval of the currency act restored to force, without further action, the cabinet council resolution of May 15 last, providing for the payment of customs duties in gold, and the minister of finance was authorized to instruct the collector-general that from and after the 1st day of August proximo gold coin of the United States would alone be received for customs duties. This instruction has been given, and also a notification to the public, and on and after the 1st proximo customs duties will be collected only in United States gold coin or its equivalent.
Very respectfully, &c.,