The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1874-07-25

+ minority EtEAEAs y AAS EtA~ktA NNA4AAtAtN VI A4S
same bill were also read.
Hon. Mr.. Kipi moved to indefinitely postpone.
While discussing. in which Hons. kaai and Mika-
supported the bill Hons. Kipi, Kaukaha and Kaka-
Ii opposed il, the Hon. MIR kaai moved TO refer il
10 a select Committee. which was carried. The
Committee consists Of Hons, Kaai, Kakani. Birch.
Wilder, and kuihelaui.
On suspension Of the rules. Hon. Mr.. Komoikeehu-
ehu presented a minority report on the bill 10 regu-
late the right Of DOVER, recommending that the bill
be amended and pass to be engvoSsei. Tabled.
The bill to regulate the right Of dover was taken
up on its second reading. and was referred again toa
Select Committee, consisting Of the Hon. MeSsrs. ko-
moikeehuehu. Aholo. Kauai, Parker and Nawahi.
The Act 70 facilitate the negotiation Of a treaty or
treaties Of Reciprocity, was taken up again on its
third reading.
Hon. Mr.. Nawahi moved to indefinitely postpone
the bill, because its provisions we're contrary to the
Constitution.
His Ex. the Attorney General stated that the bill
was not contrary 10 the Constitution.
After a short debate the motion to indefinitely post
pone wss put and lost, II to p.
On motion the bill was passed on its final reading;
SO votes cast, ayes "a. noes y.
The bill. to amend Section / Of the law relating to
opium licenses was read q third time, (hKing the up
set price of 5000 for one license and passed -
80 votes cast, ayes p, noes 10.
The Act TO repeal chapter 10 Of the Law relating
to Divorce, and to re-enact the Ac, permitting
Divorced persons to marry again, came up Gu its
third reading and passed.
The Act TO amend Sections 1852 and 1853 Of the
Civil Code lin regard to iHegitimste c~hildren) was
then read 8 third time, and passed.
The Act to specify the place Of assessment and col
lection Of taxes on mortgsged property, was taken up
on its third reading and passed.
The Loan Bill was ordered for the Commilte Of the
Whole tomorrow. Adjourned.
SIxTY-NINTH DAY, Wednesday, July -.
His Ex. the Attorney General from Committed to
whom was referred the bill to facilitate the service Of
writs Of summons in civil cases, reported e~onsidera-
ton Of the same. recommending that the bill be in
definitely postponed.
His Ex. the Attorney General from the Committee
on enrolment reported, that the King has approved
the proposed amendments 10 Articles 81 and 63 Of
the Constitution.
The House proceeded to the special order Of the
day, which was the Loan Bill in the Committed Of
the Whole; Hon. w. Il. Martin in the Chair. The
report of the Special Committee was read; and also.
the petition from Honolulu, praying that the Assem-
bly, do not pass the bill. with the names of the petit
TONERS, (signed by 500 persons or more)
Hon. Mr.. Kaukaha moved when the Committee
rise that the Chairman do report to the House.
that the petition be referred TO a Special Committee.
On motion the bill was considered Section by Sec
ton.
Hon. Mr.. Mikalemi moved TO indefinitely postpone.
Hon. Mr.. Mikslemi opposed the Bill This Government Is
aot Ssy S SsSt Z On ow e.p :; 1 5om It f Ca p , 81 any 3 , sssP Sho0, hi bdtt TSR.
ing from abroad. One million Of doilars-what an immense
sum Where will Il be foundi OF course we must 90 abroad
for such az amount Of money and & we get it, when will It be
repaid Where win The money come from to repay it, and
ever be able 70 repay il, no, never!
bill, was the development of our resources, and the advance
msns Of ,he S country IN Tealih and Prosperity; with the
enterprises could be vastly increased, and those now in danger
be saved from destruction. Properly managed, the introduce
ton Of capital here will in a few years double and treble our
present valuation of property, and all WIN be benefited. from
Hawsirs opportunity; and he urged members 70 show by their
enterprise and enlightened progress.
Hon. Mr.. Nawahi opposed the Bill in a speech OF ~eOnsiderA-
Ole He Lsn said and Ee0l TeGSe,Ion Of expenditure, so ,n., they shall
be less than the receipts, is the only wise course for a Govern
ment to pursue and had this Government followed that policy |
In the past, we should not to-day witness the spectacle of a
A. present l believe that we are able TO pay the national
The loan authorized by the Act Of 1872 is not all taken up vet.
perhaps q hundred thousand more can be borrowed under that
Act. II may be said that we pay higher interest by borrow
ing at home than the money could be got for abroad. believe
myself it will be better TO borrow money at home, paying
rates. If we borrow al home, we know all about Il, and can
how much it is, nor how the loan is managed. We shall be
in the dark and the frs; thing we know, there win come a
cause Of great pHikias for this nation and may result in dis
sur6ances among the people.
Hon. Mr.. Naukana supported the Bill. He referred TO the
petition from Honolulu against the passage Of the Bill which
had been read, and which he characterized as an impudent
one, for 1t threatened another riot 4. the Assembly should dare
cred his duty to his constituents and to the country at large,
me s : 0t wan rs q g g one or HT Tbs ob berson rs . II re g Ge veSoD , as
resources, and that was what this country needs at present,
more than any thiug else. Some Honorable members spoke
alarningiy Of our present public debt. What did IL amount TOT
And were there mot ample means TO pay It, in the properties
cumberedl He did not share in the fears expressed by the
million we should never he able to repay it. The Introduction
o. ina. amount u hnI o. CO capital INTO me country would Increase our
such a degree that the debt would be no morea burden than Ia |
sure, and that was this-if some such measure as this Bills
not passed, our sugar and rice and other enterprises will I'm,
and we shall all so back TO the fashion OF old times-to the
malO.
proposed TO borrow, would, if properly managed, be a vast
benefit to the country at large. If We borrow a million, at the
rate OF seven and three-tenths per cent, that will be S73 600
per annum for interest. And at the end of twenty years, that
will amount to SI,46O.Ooo, which, added to the principal,
makes the sum Of $2,46O,000. And II we pay seven and three
tenths per cent. interest on the million, and loan that sum out
would be a surplus in the Treasury of $4,000. This might
be the result If the loan was wisely managed.
the country, for prosperity or the opposite, was now in the
dividual, in the matter Of incurinr a debt. for n was frequently
the wisest Of policies for a Government TO borrow, and borrow
as is proposed in this case, and theincurring of a debt viii be a
step in advance. He stated some interesting facts In the his
That was an island not much larger than Oahu, but there are
T 2 RI Of sugar, md $1,000 3 w SnqSS. OF rd ProoA But zen 1h isI sreas
height of productiveness had not been reached without largely
our production and our general wealth and prosperity by the
proper negotiation and careful management Of an adequate
His Elk. the Minister of the Interior was 10 favor of the gen.
it was wise to fix the amount Of the loan at a million.
Hon. Mr.. Bishop opposed the bill, because he believed it was
incur a debt Of the magnitude proposed, bot he might vote for
one Of s2O0O 900. ltis not the part Of wisdom to incur a large
debt, beyond what is actually needed for present emergencies.
There was much that had been said about our plantations
being sunk by high interest That was not 50. The difhcul-
ties with us are, the lack Of labor and population. II we have
it was thought that we could borrow money abroad cheapiy
t sonJ. pa III sn Z, sISb Sp fr CO. - as Pspst in > IN ~ hnl our
Of go cents on the dollar. But there Is no necessity Of going
abroad for money sufficient for our needs-ig can be got here
At halEpast i P. N. the Committee rose, and obtained leave
to 81. again tomorrow, whereEPon the House adjourned.
SEVENTEEN DAY, Thursday, July %. |
His Ex. the Attorney General read first time an
Act to codify and revise the laws Of the Kingdom;
passed to a second reading under the rules.
The same gentleman gave notice Of intention 10
;r.roIuco ap Act D aprapI ~ "a IL IL. |