The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1871-12-13

remarks which we have heard from several
persons in connection with some sentences
used by our correspondent writing over
the signature of Inquirer" last week,
have turned our attention to the subject
Of the public debt, and the objects and
reasons which would justify one. We
confess that we are not of those who fear
a public debt, when incurred for reason
able and proper objects, although we
honor, exceedingly, the prudence OF those
who counsel against it and would strongly
condemn rash or ill-adyised expenditure
of any kind
The largest share of the public debt of
most countries is incurred by maintaining
ornaments by land and sea. From such
an expense we arc happily free, and in
this consists the great economy of our
Government. Sometimes we hear people
speaking sneeringiy Of the small force
which is maintained here But such peo-
pie only speak thoughtlessly, forgetting
that they ought to be thankful that there
is no necessity for maintaining such non
F.rod,.oo,s, aud ,uoh excessive consumers
of the public wealth.
Again, we would not counsel any in
crease of the public debt or the creating
one, for any mere speculative good. 1t is
in this view that although we, ourselves,
do not sympathize with the views ex-
pressed by Inquirer regarding the pay
ment of subsidies to foreign steamships,
yet we can see clearly that his views may
be correct, and listen not only with calm
ness but with pleasure to the reasonings
of several public spirited gentlemen whom
we have heard taking ground against
the payment Of the subsidy. Nor would
we counsel the mourning any debt for the
ordinary and usual expenses of govern
ment. The taxes should meet those
expenses, and to incur debt for them
would be as though one having a fixed
salary should constantly transcend his in
come But debt incurred for the perma-
nent Improvement of the country, rests
upon an entirely different basis. 1t is
almost impossible in a new country to tax
the existing generation for the improve
ments which are necessary for the crea-
ton of the facilities of business, and 1T
were possible it would not be just. Our
children will meet in the halls of legisla-
tion-they are built for their uses as well
as our own-and they should take their
subject to its membranes.
They must pay their share as well as we
pay ours, and we, the present holders of
he estate, have a right to pledge it for
he permanent improvements thereon. All
such improvements are additions to the
wealth of the country. If a
public debt is incurred therefor, and the
stock, as 1t is called, is taken up in our
,wn country. it merely means that citizens
- 49,, - sePiNsOnuv'' a.! UuviI
government, are willing to invest part
# their surplus in that property. If the
means are borrowed from abroad, it is so
much of the surplus of another country
dded to our own capital Who viii say
hat the city of Portland, for instance,
id not act wisely in pledging the city
or the means of communication between
Iontreal and that town?
That corruption has sometimes ruled in
ublic councils and reckless expenditure |
zen made, is only n reason for caution
nd for prudence, and is no reason for for
caring altogether from incurring those
abilities for the purpose of giving vitality
D business, or creating conveniences for
/. Some in our community reason in this
-ay; "How many otherwise fair pros
ects of men have been blasted, opportu-
titles for usefulness thwarted, noble
atures perverted and soured, and even
rimes committed, or the man has gone
trough life a stunted and dwarfed indi-
because he carried the bur
en- OF debt. And the same rule will
pply to nations as well as to individuals,
18th of course well understood excep-
ons." What those well understood
may be, there is no possibility
knowing. Certainly, the temper of
lie nation is not perverted and soured,
nd every man and woman in it rendered
,arJey, because there happens to be
ublic Indebtedness. A nation never
ishes to the inebriating bowl on account
its Indebtedness, nor steals to pay its
ebts with. There is no resemblance be-
veen the reasonable indebtedness of
alton and that Indebtedness which pro-
uces despair, or weighs down the weak
inded. And we don't hear of any
ltriotic individual who goes without
eep on account of the liabilities of his
ountry. But even allowing that there is
ny similarity at all, that similitude will
0 with US, for private citizen who has
good estate would not forbear to borrow
oney at reasonable rates of interest to
clip him erect structures thereon, neces-
Try for the establishment or enlargement
his business Nor doas n ,,,o,.obo,,. /