The Hawaiian Islands had enjoyed close ties with Britain since the 1790s. But in the five decades that followed, Britain's colonial focus was elsewhere, most notably on India. After all, trade with the islands only amounted to £40,000 a year hardly worth the bother. So the little Polynesian kingdom was allowed to quietly get on with things.
That's not to say foreigners left it alone. Quite the opposite. A bustling multinational community of merchants grew up in Hawaii, with British, French and American traders all eyeing each other with suspicion. But it was a falling out with the locals over land rights that united them.
Buying and leasing land was second nature to the Westerners. But the Hawaiians regarded the land as belonging to the people as a whole, to be administered by the chiefs. Angry land disputes followed.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Meanwhile, the Hawaiian king, Kamehameha III, sent diplomats, first to America, and then to Europe, with the aim of winning recognition of its independence, and courting foreign investment. Britain and France responded favourably.
Then in early 1843, Captain Lord George Paulet, in command of HMS Carysfort, sailed into the Hawaiian capital, Honolulu. The British Consul, Richard Charlton, complained of unfair treatment of the British, and Paulet was ordered by Admiral Richard Thomas to investigate.
To Paulet, that meant issuing Kamehameha an ultimatum. On 25 February, he occupied Honolulu, and placed himself at the head of a provisional government. The Hawaiian flag was hauled down and the Union Jack run up in its place. Kamehameha was still the king, but in name only. Paulet's rule, however, was to be short-lived.
Less than six months later, Admiral Thomas arrived in the islands on HMS Dublin and upbraided Paulet for overstepping his authority. The Hawaiian kingdom was restored, and on 13 November, Britain and France issued a joint declaration recognising Hawaiian independence.
-
Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
-
How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
-
31 August 1957: the Federation of Malaya declares independence from the UKFeatures On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
-
13 April 1960: the first satellite navigation system is launchedFeatures On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
-
9 April 1838: National Gallery opens in Trafalgar SquareFeatures On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
-
3 March 1962: British Antarctic Territory is createdFeatures On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
-
10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
-
9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
-
8 March 1817: the New York Stock Exchange is formedFeatures On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
-
7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.
