The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-09-30
ONE HUNDRED AND FIFTEENTH DAY.
THURSDAY, Sept. 30th.


Kuihelani, Bush, Kaae, Walker
(President), S. Parker; Reps. Hay
seldcn, Keau, Lilikalani, Baker,
Amara, Brown, Kaulia, Kaulukou,
Pahia, Kaunamano, Wight, Nahale,
Nahinu, Kalua, Aholo, Kaukau,
Richardson, Dickey, Kaai, Paehaole,
Kauai and Palohau.
Minutes read and approved.
Rep. Richardson reported sundry
bills engrossed.
Minister Gibson gave notice of
bill to amend the Loan Act, approx
ed Sept. lst.
On suspension of the rules, the
bill was read a first time.
Rep. Brown referred to the reso-
luton of the Attorney-General, by
which the introduction of new busi-
ness was limited to Il certain date.
He had no objection to the reading
of the new bill, but wished it to be
brought forward in Parliamentary
order
Minister Gibson recognized the
force of the last speakers remarks,
and asked the unanimous consent of
of the house. No objection being
made, the bill was read.
Section of the Loan Act is pro-
posed to be amended, as follows:
The sums borrowed under this
act shall be placed in the Treasury
to the credit of the Loan Fund, and
shall be paid out for the following
purposes and no other:
Ito recall and cancel all
Honds at present out
standing. issued under
any act of the Legislature
prior to the date of this
Loan; special Loan and
the interest accrued on
special Loan and out
standing Bonds. ......... 81 ,235 900
2-Encouragement of Immi-
gratiOn.. n.................. loo. 1000
| 3-Inter- Island ables and
Electric Light. Honolulu. 100000
| 4-llonolulu Water Works. 10000
5-Improvemen of the Har-
Dor of Honolulu. and
new wharves. ........... 100000
6-Improvement of the
Streets of Honolulu and
Roadways of the King
dOm... 100000
New Bridges and Land
lngS...... 15,OOO
S-Purchase of Steam Tug
Eleu .................. 10000
9-EXpense of Floating
Loan. etc...... ..... 100000
Total $4,000. 600
Rep. Nahale moved the bill be
read a second time by title. Car
ried.
Rep. Kaulukou moved the bill
pass to engrossment.
Noble Bush wished to have some
explanation or the reasons for this
change. A deprecated silver coin
age had been introduced into the
Kingdom, and payments were spread
over long period. This amend
ment proposed to pay for this coin
age at once.
Rep. Kalua said he had approved
the act passed on the 1st of Septem-
Der. Now, without any reasons
given why this important change
should be made, the house is asked
to pass an important amendment,
inside of one month.
Minister Gibson said when party
goes out to borrow, he must be pre-
pared to satisfy the party of whom
he expects to borrow, as to his ability
to pay. 1t would be nothing in New
York or London to talk of S., 5,000,-
600 loan, but with us, such sum
is beyond our ability, unless we
should mortgage our Custom House
and other estate, when perhaps we
might be able to borrow such a sum.
No security is asked of us in the
form of property. The money will
be borrowed in good faith, simply
on the good name of the country. 1t
was intended formerly to borrow
So, 100000 outside of former in
debtedness. 1t is proposed now to
reduce the amount of Indebtedness
and TO have but one creditor.
Rep. Dole said the desire was ex-
pIcSScu WucH lle lAOdIl ACJ WAS
passed that part of the bonds should
be held by parties in this country.
Now, the Minister says, it is not
desirable that such should be the
case, and if the people of this coun-
try want bonds in future, they can
not get them. The fact is that the
Government is in the hands OF
capitalists, and we are dictated to
as to how we shall pass our loan bill.
Half of this money is to be applied
to the payment of the old loan which
it is not necessary to pay off at pre-
sent, and we are asked to pass the
bill so that the capitalists Can
pocket 3 percent on $2,O00,000.
The member for Molokai was right
when he asked the questions of the
Ministers which Of the two kings
they were referring to. Our Gov
ernment is controlled by an alien
capitalist. He was ashamed of the
degrading position in which the
Government is placed, and he was
not willing to strengthen the riyets
around the Government to-day. He
moved the bill be printed and re-
ferred to committee.
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