The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1886-08-14

THE LEGISLATURE.

There was calm" in yesterdays
proceedings of the Legislative Assembly,
the result probably of the agitation Of
the day previous. Be this as it may, the
result was the same. The proceedings
Were not marred by any impertinent in
terruptions or unseemly personalities.
This, at last, was an advantage, and the
business before the Legislature was con-
Quoted with decorum.
The estimates of expenditure were
considered in Committee of the Whole,
and as the Assembly appeared to be in
giving mood votes for roads and bridges
throughout the Islands passed without
much discussion. Every member seemed
to have something to accomplish for his
own district, and this feeling being
mutual OF course matters moved along
pleasantly up to the adjournment.
The only point of interest in yester-
days proceedings was the brief state
ment by His Excellency Mr.. Gibson re-
garding a loan. His remarks will be
found in our report Of the days doings
in the Legislature. The Government
did not want a loan for any object at
present contemplated, the available re-
sources of the country being sufficient
for all necessary purposes, but Min
listers were not afraid to test the credit
of the country if the Legislative Assem-
bly, resolved to adopt policy of national
improvement works. This was for
a., 7 ofriSIot,ra bo1Ua1-ar to datarD,iDa
Should such policy be adopted,
it might be desirable to consider
the Loan bill now before the
Assembly Meantime, as matters stood,
the Government did not think it desir-
able to go beyond the means which were
available within the Kingdom itself.
The only danger lay in excessive appro-
priation by the Assembly, although he
believed the income of the country
would be sufficient as far as had been
voted.
This statement was made in relation
to the report by committee appointed
to consider the general appropriation for
roads and bridges, which recommended
a large sum for that object. 1t was a
timely caution to the Assembly, which
proceeded without delay to appropriate
the amount recommended by the
select Committee, and to make liberal
additions besides. If the Ministerial
programme be carried out the revenue
and realizations OF the Government will
be sufficient; if the House ''overruns the
constable" as it were, then there may
be necessity for borrowing.
Our own opinion is that it would be
prudent to abstain from borrowing at the
present time, and by careful and intel
Ii .ent administration to place the
finances of the country upon such
basis that when it goes into the money
market to borrow for works of public
utility it can do so upon the most adj
yantageous terms. We are satisfied that
this result will be accomplished by the
present Administration if it pursues the
policy laid down by it since its instaIla
ton in office Doubtless it would be
gratifying if a comprehensive scheme OF
public works could be inaugurated at
once upon favorable terms, but it is
sometimes better to wait upon events
than to force them No doubt the credit
OF the country is sound, and loan could
be floated; but it is equally true that
two years hence, with Hawaiian bonds
at premium, money could be raised
upon far more favorable terms than now.