The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-09-01
THE LEGISLATURE.
Continued from page 4.


what was voted in the bill. But |
with bill of So, 100000 and
revenue of S2,50O,0O0 then enter
prises would have to be left alone.
1t would be an independent ques-
tion whether the Ministers had funds
in the Treasury. If they wanted to
promote immigration, that would
certainly be too much to add to the
ordinary revenue. Everyone would
recognize. the importance of this
port in relation TO the commerce of
the Pacific. 1t ought to be one of
the best provided ports in the
Pacific. There ought to be in
creased dockage, and the channel
should be deepened and widened.
Were they to charge themselves
with the burden or let it alone?
But if their credit was good-and
he knew it was--they could borrow
the money to carry out the enter
prise. He was satisfied that the
road tax to be paid in the district
and the unexpended road tax could
be applied TO the roads. All this
class of Improvements ought not to
be charged upon ordinary revenue,
but to the credit of the country to
carry them out. The item for the
tug Eleu was n proper one. With
regard to the first item, every men,
Der would recognize the propriety
of paying off this Indebtedness with
a new issue at 6 percent. With
regard to the D percent commission
mentioned in the section, if the
Minister of Finance placed n por
ton of the loan abroad there would
be need of some allowance. There
would be no need of any at home.
Rep. Thurston said the Minister
of the Interior had been giving an
interesting statement, but had not
shown any necessity for the ) per
cent commission. He had given no
information on that point. He (the
speaker) should expect the p. &.
ADVERTISER to come out and call them
obstructionists. If they passed this
section as it stands they would be
voting 500, 1000 for nothing. The
present Ministry were capable of
doing that, as they had paid Irwin
& Co. 50 head for japanese. The
present Minister of the Interior gave
Mr.. Spreckels the Coinage Act with
out warrant of law. This Minister
of the Interior and his associates
had sucked enough juice out of this
orange. They could borrow without
commission.
Rep. Dickey said that if there was
any faith in thesGovernment there
was plenty money to be had, and no
need of putting loan in the mar
ket, nor any need of a commission.
Rep. Kaulukou asked Rep. Dickey
whether he could negotiate a loan
without commission.
Rep. Dickey said he could easily
do it if they would let him select
the Cabinet.
Rep. Kaulukou said that looked
as if Rep. Dickey would like to be a
Minister. The fact of it was he
(Rep. Dickey) could not manage
his duties as representative, much
less manage loan.
Noble Macfarlane asked the oh.
ject of the hon. Noble Cleghorn' s
motion to strike the per cent com.
mission out.
Noble Cleghorn said the commits
sion was absurd. 1t looked as i:
there was ''nigger in the fence
! If they put in that limit some one
, would get it.
Noble Macfarlane said loar
could not be placed on the Londor
market without a syndicate. Tn,
: latter would put them on par will
| the 6 percent Chinese loan, which
0 was placed at 9S. If those bond
were only received at 80 on tn
!, market the syndicate would get badl,
left.
IL Noble Cleghorn said he had n
t idea of getting money from abroad
r They had two banks here with goo
4 credit. 1t looked as if Noble Mac
> farlane was intimately connecte
: with these gentlemen who wei
e interested in the loan and eXpecte
y to get something.
n Noble Macfarlane said he had M
= arranged to get one single cent, NJ
had he any promise of anything.
. would be benefit to have Englis
d capital here. If they could get I'll
$ money here, all right; if not, the
e they would have to 90 abroad. II
understood it was the intention {
the Government to place a porto
: of the loan on the London marke
II If they do they cannot float it will
l. out they pay 5 percent commissio
l. to the syndicate.
4 Rep. Hayselden said that sug'
agents are paid % percent here an
. p percent in California.
IS Noble Bush-Sometimes 5 pc
'e cent.
Is Rep. Hayselden said he did n
- see why these bonds should NJ
- command a premium. If it W;
Y right to pay commission to sug'
is agents the same argument wou
$. hold good in this case.
I'd A motion to adjourn was lost.