The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1865-02-25
An ACT

TO RELIEVE THE ROYAL DOMAIN FROM
ENCUMBRANCES, AND TO RENDER THE
SAME INALlENABLE.
WHEREAS, by the Act entitled An Act
relating TO the lnds Of His Majesty the
King, and Of the Government passed on
the 7th lay Of June, A. D. lS4S-it
appears by the Preamble, that His Most
Gracious Majesty Kamehameha Ill. the
King. after reserving certain lands 10 him.
self as his own private property, TO sur
render and make over unto his chiefs and
people, the greater portion OF his Royal
Domain. And whereas. by the same Act
It was declared that certain and therein
named. shall be the private lands of ka-
mehameha III. to have and to hold to
himself, his heirs and successors forever;
and that the said lands shall be regulated
and disposed of according to his royal
viii and pleasure, subject only TO the rights
Of tenants. And whereas, by the proper
construction of the said statute the words
Heirs and Successors means the heirs
and successors 70 the Royal Office. And
whereas, the history of said lands shows
that they were vested in the King Tor the
purpose of maintaining the Royal State
and Dignity. And it Is therefore diSad-
vantageous to the public interest. that the
said lands should be aiiena:ed, or the said
Royal Domain diminished. And whereas
further, during the TWO late reigns, the
said Royal Domain has been greatly d.
unfinished, and IS now charged with mort
cages 10 secure considerable sums OF
money. Now, therefore,
Be IT ENACTED, by the King and the Legis-
lauve Assembly of the Hawaiian Islands,
IN the Legislature OF the Kingdom assem-
bled:
SECTION /. The Minister of Finance is
hereby authorized to issue Exchequer Bonds
with coupons attached, to the amount of not
more than thirty thousand dollars, said bonds
to bear interest, at not more than twelve per
cent. per annum payable half yearly, and TO
be redeemable at such times within the next
twenty years, as the said Minister of Finance
shall deem expedient, which said bonds shall
be issued whatsoever necessary 10 the Com
missioneTs Of Crown Lands hereinafter pro-
vided for, 70 be used to e~xtinguish those mort
cages which may remain unSatisied after the
Administrator Of his Iate AIaiestY's Estate
mas exhausted all the Estate belonging TO his
late Majesty, in q private capacity, which the
said Administrator may be legally entitled 70
Use for the paymentof the debts of the Estate.
SEC. ,. Full authority is hereby given
TO such Commissioners, Jointly with the
Minister Of Finance, TO negotiate for the
redemption of the mortgages in the preced-
ing section referred 10, and dispose of the
said Exchequer Bonds for that purpose. in
such manner rs may be most advantageous
TO the public interest.
SEC. 3. Il IS further enacted, that so
many of the lands which by the Statute
enacted on tue 7th OF June. 1SiS, are de-
clared TO be the private lands of His Majesty
hamehameha ILL.,, 10 have and 70 hold 70
hiv,SaIF hi Jafre ,,I s,,-,o--c-- Eo-ay.- %
may be at this time iualienated, and have
descended to His Majesty kamehameha V,
shall be henceforth inalienable, and shall
10 the heirs and successors Of the
Hawaiian Crown forever, and 1t Is further
that it shall not be lawful hereafter
to execute any lease or leases of the said
lands, for any term OF years TO exceed thirty.
SEC. /. The Commissioners OF the Crown
Lands shall have full power and authority to
good and valid leases Of the said lands
for any number Of years not exceeding thirty.
But in no case shall 1t be lawful TO collect
the rents on the anne for more than one year
in advance, or 70 receive anything IN the
nature Of a bonus for signing the said lease,
ana all the rents, profits and emOlumentS
derived from the said lands. after deducting
necessary and proper expenses Of manag-
ing. the same shall be for the use and benefit
d me INtiSLlng sovereign. ana pdyap.c oE
he said Commissioner 10 the order of the
king, except when the hIng shall be a minor.
md then they shall Be invested for the bene-
ii Of the said minor King, as the Legislature
may direct, until. the said minor shall have
arrived at the age Of majority, and excepting
.urtner IS IN the succeeding section set forth.
SEC. .. There shall be set apar- by the
AID commissioners 0ne-fouTlh part Of the
annual revenue Of the said Estate. which
hall D. paid into the Public Treasury. and
e devoted first to the payment of the in,erez;
N the ~EXchequer Bonds herein above pro-
for. and so much OF the said fourth
of the said income as may be in excess
1t the said interest on the said bonds. shall ("