The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-08-30

full of "loan;' mentioning next the
announcement of the first Minister
that a loan was not necessary, and,
lastly, the revival of the loan bill.
He had heard from not one, but
many people, an explanation of this
very changeful policy. 1t was that
Mr.. Spreckels had declared that a
loan was unnecessary, but now the
hands of the Ministry were forced
from another quarter: hence the
sudden change of tune.
Minister Gibson said the hon.
member for Molokai had once made
q calculation that their time cost
over $50 an hour, and he was just
wondering how much the hon. mem
Der had cost during the last ninety
days. The hon. member often spoke
about innuendo and statements not
based on fact. What business, then,
had he to bring in here street talk.
He ranted and raved on matters
about which he had no information.
In reply to Noble Cleghorn, he said
he had not changed his mind on this
subject. If he had done so he
should have moved the withdrawal
of the bill. But the bill had been
allowed to come up in its regular
order. Early in the session the
Ministry were very earnest in con-
sidering certain local Improvements.
Then period of reflection came, a
cry of retrenchment arose, not alone
among the Ministers but also other
people. The country was represented
to be staggering under load of
debt. That was the description of
their condition, Notwithstanding that
one item of their assets-the water
wordsworth bring in the market
sufficient to pay off all the debt.
There was a message from the King
recommending retrenchment, and
for time the Assembly was in a
very economical mood. Under the
influence of this prevailing mood he
had written to their agent in Japan,
telling him that the Legisla-
ture seemed to be opposed to
bringing in more immigrants, and
advising him to wait awhile until
the mind of the Assembly was more
definitely expressed. The speaker
believed that the Assembly would
be disposed to vote more for imini-
grafton now than they were then, or
even six weeks ago; that, instead of
the small appropriation for bringing
in one shipload, they might, on
third reading, be disposed to pro-
vide for three or four shiploads.
The course of the Government was
not due to the dictation of the
gentleman-the good friend of this
Countrywide had been referred to.
Mr.. Spreckels had told him, about
the time he introduced this bill, that
he thought it was advisable for the
Government to borrow money, and
he believed that the whole amount
could be obtained in San Francisco.
The Government was now ready to
proceed with the consideration of
this, their own, bill, than which no
other loan bill had been introduced.
He moved to amend the first section
by making the denomination of
bonds 500 instead of $500.
Rep. Thurston, in reply to the
Minister of Interiors reference to
his waste of time, said he would be
willing to put the amount lost by
the waste of time by the Minister on
top of what was lost by himself, and
the Minister could take pick and
shovel and would not get at the
speakers pile if he dug for week.
Rep. Dole asked the Minister if
he favored this loan bill now.
Minister Gibson said he did, with
amendments that he desired-more
amendments probably than he would
have allowed two months ago.
Rep. Dole considered the ques-
ton to have been fair one, as he
distinctly understood the Minister
to say few days ago that the Gov
eminent considered a loan unneces-
sary, looking to other sources for
the means of public improvements.
There was no matter in which it was
more important for the Government
to have policy than that of bor-
rowing.
Rep. Thurston thought this was
the proper time for the Assembly to
discuss whether it was desirable to
effect a loan or not. Until this
moment they were not aware whether
the Government was in favor of a
loan or not. He was opposed to
borrowing money, except for the
purpose of paying off the debt, on
part of which nine percent was
charged. Proceeding to discuss
the present debt and interest, he
was interrupted by Minister Gibson,
who said that the loan was to pay
off the debt, also that the Govern
ment might not want to borrow more
than three-quarters of million. In
reply to this, he said they could
depend on it that this Government
would borrow every dollar it could
get anybody to lend it. He be-
lieved the statement of the Minister
the other day was true, that they
did not need a loan. For the past
few years the revenue was larger
than ever before, and the Gov