The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1874-09-05

By REFERENCE to advertisements in the papers
it will be seen that the Government is at length
moving forward in the direction of selling some
or the public property in and about the city.
These sales we hold are desirable, on many ac-
counts. Let us take the Court House, for in
stancc[ Several years ago, it appeared to be ne
cessary' to provide a new government building,
and that which was constructed has proved to be
sufficiently spacious to accommodate the Supreme
Court as well the government Offices. Now what
should be done with the old Court House? Is it
worth while to keep 1t merely to look at2 All
buildings are constantly needing repairs, and one
that is not Inhabited especially runs to ruin.
The upset price at which the Court House prop
erty is to be offered is 500, 0OO-and perhaps it
will, as it ought, bring more than that. But we
will suppose that it sells for 100000. Interest
on that sum amounts to 81 800, and the annual
tax will be 800. The average cost Of repairs on
such a building we will estimate at not less than
5000 a year, and it might extend even beyond
that sum Thus there is n clear gain to the gov
eminent by selling this piece of property, of
3d. 100. But if you take into consideration the
probability that the purchaser will erect buildings
on the Fort and Queen street sides of the lot, the
amount of taxable property becomes by so much
increased. 1t will be readily seen therefore, that
if the Court House property should remain urOc-
cupied five years, it would have to bring over
$780, 900 to be in the same position to the public
Treasury as now, in selling at $40 900; whilst by
Its being offered to public competition, every per-
son willing to make that kind Of investment can
be a competitor for the property. 1t amounts
then to this: that government has purchased
what they deemed a desirable lot for q govern
ment building, aud now sell desirable property
for business purposes, to pay for that purchase.
Government should never be a land-holder
that is to say, it is sufficient for Government to
hold Just so much land as is necessary for their
requisite structures or for public purposes. We
have heard some not very philosophical remarks
relative to the security of Treasury Bonds. The
security which a government gives is not it's real
property; it is the ability Of its citizens to bear
taxation. Consequently, industry and activity
are the true bases of any nations credit. No
lender to the United States cares whether the Con-
gress meets in a Capitol that cost many millions of
dollars, or IN Independence Hall, in Philadelphia.
One of the lots to be offered for sale affords a
good illustration Of our subject. We refer TO
that which wns attempted to he made into a
public garden. IL was found that it constantly
cost money TO maintain it the interest in it was
not sustained, and for some cause or other people
did not seem TO care TO 60 there. The lot itself
is valuable as 4 site for private residences, and
the purpose for which 1t was purchased it appears
now will be more than supplied by the spacious
grounds around the new Government building.
Here, attendance is necessary the location is
central; the soil deep and excellent and it may
be expected that rare plants will receive care and
attention. And if an idea which we have heard
mooted shall be eventually carried out,-of put
ting an IRON fence in front Of the Palace grounds
instead of the present dead-wall,-a fine park
will be easily and inexpensiyely made on both
sides Of King street. Why not then sell the
Agricultural Society's Garden, which has become
useless for the purposes for which it was originally
purchased?
The lots on the plain are at present of no use
to any one. They were purchased some years
ago as a site on which to build a Palace; but it
was 4 mistake. Instead however of now blaming
those who made the purchase, let us rather be
thankful that they did not build a Palace there.
Why, then, should not these lots be sold, and the
money which they cost-or as much Of 1t as they
will bring-be paid back into the Treasury? So
also, we should say, with some of the wharf prop
erty. If it can be sold, and people be induced
to put good buildings on it, this would not only
make a larger taxable basis, as we have said be-
fore, but would give opportunities for employ
ment for Iaborers and artisans and improve the APP
pearance Of the city.
We may therefore conclude, that it appears the
part of wisdom to dispose of property not in use,
and thereby give to others the opportunity to put
it to use; and at the same time to procure in the
most legitimate Of all ways the money wherewith
to erect warehouses, and carry on other desirable
public improvements. We venture to express the
opinion that government would be very willing to
take their own bonds in payment for the property
to be sold; certainly no one would question their
wisdom in doing so.