The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-05-25


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 a further resort
to the savings fund unnecessary.
Let US suppose further, that the de-
posits continue to accumulate at the
present, or even an accelerated rate,
and that the Ministry find them
selves at the meeting of the Legisla-
ture a year hence with several hun
dred thousand dollars lying idle on .
their hands. What will be the re-
suit?
The answer to this question will |
depend upon what kind of legisla-
ture we get next time. Should we |
be so unfortunate as to get a 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. 1t 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 a 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 a 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"
hof Hawaii's independent national ex-
9 - T,SS result might be quite
: satisfactory to some people, but {
r those of us who do not happen to b
annexationists, it would be but boo
consolation
C On the other hand, should tn
r present Ministers remain in office, O
Il should they be succeeded by other
d of the same general ideas and prin
i ciples, and should the next Legisla
# ture contain working majority O
x intelligent, progressive and practica
70 men, several large and importan
} enterprises, essential to the politica
4. and social as we'll as the industrial
% development of the country, will i'm
II peratively demand attention and cal
&c for large sums of money. Anon:
"a the things we want,and must have, i
we are to fulfil our apparent destiny
3 are telegraphic communication Will
70 the outside world, the deepening o
n our harbor and entrance. more fire.
= quent and more conveniently ar
= ranged steam communication with
: various points, more and better roads
O bridges, wharves and landings, tc
e say nothing of several other minor
$ matters.
: All these things are of the nature
y of permanent improvements and
q public works, intended for the
f development of the country, the
= rendering available of its natural
}. resources, the growth of it's agricul-
@ ture and commerce, the increase OF
t its wealth, the augmenting of It's
: public revenue, and the promotion OF
g the prosperity, convenience and
general we'll being of its inhabitants
= They cannot possibly be provided
S for out of the present current re-
d ceipts. The money must be obtained
g by borrowing. We are not going
c into the question of the propriety of
judicious borrowing for such pur-
}, poses. The experience of other
4 countries may be accepted as con-
: elusive on that point. In speaking
r of borrowing as judicious, we mean
5 having due regard to the population,
natural resources, and probable
3 future development of the country.
f The borrowing of money subject to
such limitations, and its honest and
economical expenditure upon useful