The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1880-08-14

ment. bind the Archipelago closer. and add to
our prosperity. Let us also look at the bill for
an ocean cable. He knew nothing about the or
igin 7of tue bill, and be discussed this subject
only IN reference to its merits. He thought
We measure in some shape should receive consid-
Grafton from the Assembly at this time. He un-
oerstood the cost to be about 81 900 a mile, say
Sz,OOO 700 altogether 10 connect with the Amer
lean continent. II accomplished by some reas-
enable assistance on our part, it would rebound
TO the credit Of this Assembly. The subject of
railroads and steamships should also have our
consideration. lie would say cordially of the
Msaister OF the Interior, whatever his position in
the country. that sach enterprises as these could
not be placed 10 better hands. And now a great
point 20 be considered 10 the reduction Of the
rate OF interest in this country. There can be
no prosperity where the rate of interest is as
high as>l2 or IL per cent. When he spoke to an
eminent English gentleman about our rate of IN
terest, this gentleman pronounced it as black
ruin. de did not believe there was any indust-
ries 10 any country which could warrant such
rates OF interest. 1t was said that before we got
the treaty with America that we were going to
ruin and we are still struggling with its help.
Now there is Manila and Mauritius can send
their sugar ad~yantageously to the same market
as We do Notwithstanding our remission of duty.
The reason why we seemed to have no advan-
tage was the high rate of interest as well as diff
culties about labor bearing down on the planter.
~ ON1CA ACooOuor uCu do C4lId-
vagance Of living and want Of economical man
agement Of labor. Let US now consider the bill
itself which Is before the Assembly. He knew
nothing about its authority, and did not want to
know. Our province is to consider the measure.
In the minority report on this bill it is stated
that it might be proper to consider the subject
Of one, two or three million loan or whatever
sum might meet with the approval Of this Assem-
bly,. He never advocated a ten, eight, or five
million loan. 1t may be possible that we have
appropriated more than our revenue will come
to. and may need more money on that account,
but he hoped not. He felt we have appropriate
ed for good measures. He thought the subject
OF coinage ought to be separated from any such
bill. He would move that the bill and reports
be ~recommitted to consider If there were not
grounds for a special loan for certain works of
internal improvements to be determined by an in
~telligent and experienced commission.
Mr.. Castle said the debts, if once contracted,
could not be repudiated. From what he had
learned, SO, 900 900 would be nearly one-half of
the value of property in this country. Large
debts will not always shield weak communities.
Where a strong nation might be able to repudi-
ate, q weak one could not. He was OF opinion
that loans should be confined to those things that
will add to the comfort and happiness of the peo-
pie. As il WIS late in the session, he thought it
better to discuss t and dispose of it, rather than
refer to a special committee, a measure which he
would have supported at an earlier stage.
Mr.. Gibson said it was idle to talk about a
ten million loan nobody advocated such a loan.
The ayes and noes were taken on the indefinite
postponement Of the bill with the following re-
suit
Arys-Messrs. Wilder, Kapena, S L Khai. Preston, Do
minis, Kanoa, KAhAnu. CleghOrn, Moanauli, Castle,
Rhodes. Judd. KunuiAkes, Ksulukou. Nawahi. Woods, S
W Kaai. PilipO. Khpahu. MAhOe, G n Wilcox, Kupihea,
Keau-23.
HoEs-Messrs Bush. Kuihelani, Martin, LiIikalani,
Baker. KAIama, Kahulu, Kaanaana, Gibson, NahAku, Ka-
Iua. II W wilcox, Glendon, HAnuna, Wshine, RAuns-
mano, Kuapuu, Kakins, Beckley.-l9.
The House adjourned at 4 p. m.