The Hawaiian gazette., 1889-05-28

pended. The various objects for
which the surplus savings deposits
can be used are set forth in Sec
ton 3 of the Act, and aggregate
S615, 14114, nearly or quite all of
which is for permanent improve
ments and public works of various
kinds. As we understand the word
ing of Section 5 of the same Act, the
entire surplus deposits from the
Postal Savings Bank, or so much
thereof as may be required can be
used in meeting said payments,
should the same I've rendered neces-
sary by the failure of the other
sources of revenue mentioned in the
same section. It is because these
other sources of revenue have not
failed, that there has been so little
necessity for using the savings fund.
The surplus portion of this fund
could also be used in taking up our
outstanding bonds, were the credit
of the Government not so good that
the holders refuse to receive their
money at par, the only terms the
Finance Department is authorized
to offer.
Let US suppose that no opportunity
occurs for paying off any portion of
our bonds; that the Government see
fit for any reason to defer, in whole
or in part, the public works men
toned in Section 3, or that the I'M
expected increase in other sources
of revenue renders further resort
to the savings fund unnecessary.
Let us suppose further, that the de-
posts continue to accumulate at the
present, or even an accelerated rate,
and that the Ministry find them
selves at the meeting of the LegisIa-
ture year hence with several hun
bred thousand dollars lying idle on
their hands. What will be the re-
suit?
The answer to this question will
depend upon what kind of a legisla-
ture we get next time. Should we
be so unfortunate as to get body
composed of such material and
dominated by such influences as in
1884 and 1886, we can prepare our
selves for an era of rampant and
reckless, if not unexampled extrava-
gance and corruption. It should
not be lost sight of as an element of
danger in the situation, that the
presence of a large amount of cash
in the Treasury, and the re estab-
lished credit of the Nation with the
consequent increase in its power of
borrowing, will be powerful stimu
liant to the efforts of the corrupt ele-
ments among US to get control of the
Legislature, and through that, of
the executive departments of the
Government.
Fancy the "old crowd" in full
possession of all the Government
machinery, Legislative and executive,
with an overlooking treasury, an
augmented revenue and restored
public credit as basis for opera
tons, and deprived Of even the
slight restraint formerly exercised
by few men of comparatively cool
heads like Gibson, Aholo and others.
It is hard to say what kind of
circus we might not, under such
management, be invited to witness
and afterwards pay for. Such state
of affairs, unless promptly and effect
ually checked by some movement
from within ourselves, would be
simply 'the beginning of the end"
of Hawaii's independent national ex-
istence. This result might be quite
satisfactory to some people, but to
those of us who do not happen to be
annexationists, it would be but poor
consolation
On the other hand, should the
present Ministers remain in Office, or
should they be succeeded by others
of the same general ideas and prin-
ciples, and should the next Legisla-
ture contain a working majority of
intelligent, progressive and practical
men, several large and important
enterprises, essential to the political
and social as well as the industrial
development of the country, will i'm
peratively demand attention and call
for large sums of money. Among
the things we want, and must have, if
we are to fulfil our apparent destiny,
are Geographic communication with
the outside world, the deepening of
our harbor and entrance. more fire.
quent and more conveniently ar