The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1872-05-25

the other day by the Finance Minister To zSl,OOO
chlckens-quiie n respectable poultry ~yard-these
sums give us the very modest debt 81 S6OO.O00. nc
the ci0sr VI the nrNt Lscal tern. March SlSs 1874.
The next paragraph tells us that the credit Of The
that is while We have owed but little. and that
latterly. whils we have owed more. money has
been had " on very favorable terms"
The Inference being that as the public debt adj
vances To . respectable amount mouey lenders are
more willing 70 advance monies and nj n better
rate of interest. And now We CONS % The crcaea
% the report we arr told that 40 long as reasona-
BILE appropriations are made. and for proper pnr-
poses-just what may be proper. RePreseptatiyes
may or may not be competent 20 decidf1ANd
the revenue + maintained AZ a Squire sufficient TO
pay such overwhelmingly southland 10 pay
the interest on the debt TO meet which we borrow
more-And We can sreate a reserve towards The
payment OF the deb. within a reasonable time,
and 80 long as Eothing is done by legislation "
otherwise 20 damage the principal Industrial inter
ests OF the eountry-a slur upon the wisdom OF
our egislatiOR-th credit oi the country will b"
maintained. just 80. This amounts 10 just this
and nothing more. That iE-apd if--snd ii-ah
will be- we'll.
Next we are told thatit Is quite easy 10 injure the
public credit oy reckless apprOpradOns-for In
stance government buildings 30 cost Slsc 600.
aud a palacc 90 stand alone az n model OF
lecture. which will be occupied and nssd Rhf
much aud as often as the present one is;-"eTI
igant expendituresr-like the unauthorized, Butcher.
$4,000 for a grand hotel -" reduction OF y. arr pre-
Of which there Is little chance-and other All sssrs
vised legislation" All this 4 am free To adnss '"'S"~
injure our credit And now comes the sapi-
ms,k that we osnno, expect TO make iHkKT.
Palace. Water-works. and the like, without
ing the public debt. This Is very evident whwckstAhls
take into consideration that the revenue mLSo II
country Is but 1882 .000. and OF that sum t.
nance Minister asks for $4,000 for salaries.
ing Tor public improvements the sum OF s39Oa
mark the difference In the amount for salaut
and The amount for public improveme0s-aDdH
We propose 10 go on aud build as Contemplated by
the Appropriation Bill. we must borrow S21s,OOe.
This Is far from encouraging, and ! claim that thls
disproportion of expenditure Is not warranted BY
the present outlook upon oar failure.
The next paragraph assures those Representa-
tives who have already complained that appropria.
tons for improvements In their districts have not
been spent, that the chances ate that such appro-
priations voted this session will also remain IN thn
Treasury.
The Committee are Of opinion that the gross rev.
enue Of the Kingdom will equal the estimate made
by the Minister. l am confident that merchants DO
not anticipate so large a revenue from the Customa
as the report expects.
The Chairman Of the Committee has aaid that they
did not say more relating 90 the Hotel Bonds be-
cause the Minister n not deHniH In bis report con-
corning IL. Now | beg 60 differ, IL Is quite positive,
for il says This large risk has been assumed IN
the full confidence that you will Justify II, and will
authorize His Majesty's Government 90 issuespecial
bonds" TO meet the expenditure. Now The, conh-
dence expressed might be fatterng did II not con
yey also a confidence that Is not complimentary.
The proposed 10 repeal existing loan acts is n
sound one. When we consider that n crisis h upon
US, it is only right that this Legislature should have
a voice In passing upon the new act contemplated.
And now. Representatives. let me ask You 90
consider every item Of the appropriation Bnl care
fully, least we prepare a debt OF $1,000 0 for the
consideration of the members of the pext Assembly,.
A debt that threatens the very Independence and
stability of this Nation and it's Government.
Hon. Mr.. Bishop did not think that the reportof
the Committee lacked anything that would have
been of any use. They might have gone through
with the Appropriation Bill, itemsby item, but their
reductions would not have availed anything, The
expenses OF the government did look large, ana
doubtless they could aud ought TO be reduced, but
there were some items that must be increased, even
at the expense Of a debt, though he confessed TO a
constitutional a~ntipatby TO the idea OF debt either
public or private. The policy recommended OF
merging all acts authorizing loans into one, was
plainly a proper one.
Hon. Mr.. Komoikehuehu deprecated the idea of
increasing the public debt. IL would be ruinous
and would cripple the government. The people
must eventually bear the burden. IL the debt was
hard to pay while small, how could IL be paid
when it grew larger? The best thing the House
can do now is TO find out how they can pay the
debt already incur red, and pay IL, and have no
debt. There are many petitions now before the
House praying that the goyernm mt lands may be
sold to the people II may be well 20 sell some Of
this land and create a revenue.
Hon. Mr.. Mikalemi. remarked that II had been
said that If the House adopted the report OF tho
Finance Committee. it would not be binding upon
the future action Of the House; but be was afraid
that il they done so it would be opening the door
for the adoption Of the Appropriation Bill. As
each Legislature has gone on approprizting more
Nlbht Nbhh VIM w bt ~ ~ VIII uuDUtu III
If we follow their example, The debt will soon
amount to a half q million dollars. This burden.
will rest on the representatives and people. He
thought that the proper plan would bo 10 pay the
national debt, and then appropriate.
Hon. A. +. Judd called attention 10 the fact That
while the calculated income was something over
$500, 900, the salaries were over 500. 900, that In
$3.50 for every man, woman and child In the king
dom. The New York Ring was probably the most
corrupt in The word ia squandering on public
buildings, &c, enormous sums Of money, but they
did not place In their pockets ~fftyfour per cent.
Of the income OF the city. IL may be that our In
como may not be $500 900. we may have dr0uths,
&c, but the salaries are sure 10 be drawn. / do
not think that any Of the salaries can be reduced
but | do think that some Of the Offices can DE abol-
isbed. Our debt at the end Of 1874 will be over
100000. .I ...aH 4ItJ
Hon. Mr.. Aholo advocated the adoption OF the
Ommitte Report.
His Elk. c. g. Harris stated that IL was not the
intention OF His Majesty's government TO reply to-
day to any Of the remarks made. He moved that
the report Of the Committe be laid on the table 10
be considered from time TO time with the Appno-
~priation Bill.
Appropriation Bill read for the 1rst time.
The House then adjourned.