The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-07-02

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was painful to listen to it. The hon.
member was well-informed, and the
Minister had n high respect for his
intelligence, but considered he al
lowed himself to be little imposed
upon in this instance. He asked him
to Just reflect little. The gen
tlcman in question thought proper
to purchase bonds of this Govern
ment to the amount of half mil
lion dollars at six percent. All that
he was given for his money, his hard
coin, which he placed in their trea-
sury, was q simple piece of paper,
promise, nothing more than the Min
istry's word. He could not get any
other security for his money than
that piece cf paper. During the
previous period there was an open
account with that gentleman, or
rather with his firm, and at one
time the Indebtedness of the Gov
ernment to that firm ran up, he
thought, to over 100000, and he
(Mr. Spreckels) never thought of
such thing-hc was sure he never
hinted at it--that the Government
of country regularly exporting
products worth eight or nine million
dollars per annum should give such
pledges as those mentioned in this
resolution. The new Indebtedness
that was now accured, that is, the
debt on open account, was in the
same position, without suggestion,
without hint, of any security, eX-
cepting the bonds, in any form
whatever. SO sensible gentleman
as Mr.. Spreckets would not for one
moment, for the paltry SUN of
S17O,OOO, think of asking mort
gage on the Water Works worth n
thalf million, on the Custom House
with its annual revenue, and on the
wharves. 1t was absurd TO think
of such thing. The house had
Just asked the Ministers for precise
statements of the Governments IN
debtedness, which would be faith
fully given without any reservation
whatever He thought the hon.
gentleman should be satisfied with
this statement, that the fullest aC-
count would be given, covering the
whole matter and every enquiry and
suspicion, and it would be worth
while for the hon. gentleman TO
Withdraw his resolution.
Rep. Dole saw no want of inteli-
gence on the part of the hon. mcnl-
Der for Lahaina. The only point on
which he was not quite satisfied was
that the resolution did not cover the
ground. They had reason TO be-
lieve that the Ministry bad mort
gagged the taxes to Mr.. Spreckels OF
some others on more than one occa,
sion, as security for loans. If tina,
was so, why not mortgage the Gus
tom House revenues, or the Water
Works, or the wharves? He did moi
wish to make any statement of this
kind without giving the Ministry al
opportunity of denying it, and he
now asked the Minister of Interior
if they had not mortgaged the taxes
on one or more occasions for loans
Minister Gibson said he would an.
swer the hon. gentleman that there
had been nothing in the shape of {
mortgage, but simply a promise tha
when the revenue was in hand The
debt would be paid:
Rep. Dole said the very fact thai
the taxes were guaranteed--he wa
sure they were guaranteed in writin,
by Ministers, and this was don
in 1883 when moneys were borrow
ed from Mr.. John Wright through
Mr.. Fred. Wundenberg, and Til
taxes were guaranteed as security
gave color to the rumors that tn
town was now full of, as stated b
the member for Lahaina, about th
sale or lease of the harbor of Hone
lulu to Mr.. Spreckels. The Mir
lister few days ago thought it wa
eminently proper to bring before til
, house resolution asking for inform
+ alton in regard to the rumored leas
of Pearl Harbor.
Minister Gibson asked for the ho1
E members authority for the stat
p ment that the Ministry had cause
the introduction of that resolution
i, Rep. Dole said his statement ";
that the Minister had thought
eminently proper.
Minister Gibson thought the hol
= gentleman would be willing TO gi,
+ him credit for willingness to answ'
] at any time.
Rep. Dole said he did not mea
4 anything personal. He did hear th
that resolution was in the ham
~ writing of Mr.. Gibson, but m;
have been mistaken.
II Minister Gibson said he was mi
taken, and if he was not mistaken
II, was not true.
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