The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1890-10-03

IlODS' NcN ndu CdIIltu OuI tneiI
trust so well as TO reduce the debt
to SIG, 46l.l1. The principal credit
ors of the King had assured the
Government that they would release
His Majesty from the interest if the
principal was paid now. Apart
from the secured debt a floating
debt of 5000 had accrued since
the appointment of the trust, which
with the other sum made Sl06, 900,
and this bill provided for loan not
10 exceed $4,000. The trustees
had cash on hand to pay another
dividend of five percent. Under
The bill the Government would not
advance one cent, but lend its guar
antee that the interest would be
paid. The trustees would give
the security of deposit of 100000
n year from the revenue of the
crown lands.
Rep. White moved the indefinite
pastponement of the first section.
The House yesterday rejected bill
that would have increased the re-
venue from the crown lands so that
it would have paid all His Majesty's
debts. Members held crown land
leases themselves. and were afraid
that the bill would bear hard on
themselves, so they defeated it. 1t
would not be right to hypothecate
$4,000 year of the crown land
revenue to pay the present Kings
debts, as his successor might come
on the scene before they were all
paid Suppose the King died and
Billy White was his successor, where
would Billy White be? This bill
was like centipcde-lt had a sting.
The introducer told them that the
amount did not cover interest. He
was surprised to see such n bill come
from the Reform side of the House.
There was something suspicious
about it.
Rep. r. w. Wilcox was in favor
of the first, second, and fourth sec
tions of the bill. He was glad to
see the bill coming from the
side of the House it did. 1t showed
some gratitude of those who bene
fitted chiefly from the reciprocity
treaty negotiated by His Majesty.
Rep. Kanealii was not in favor of
the bill. II was evidently designed
by those who were to benefit chiefly
by it. The creditors of the King
wanted their money secured to them
in this way. He did not believe in
tying up the crown land revenue
for this purpose. The bill was a
disgrace to the House and to the
people who brought it there. He
did not know whether the Ministers
had been consulted or not. The
Ministers might have conferred with
His Maiesty's trustees and made
some arrangement, whereby a por-
ton Of the Crown land revenue and o
portion of the Kings allowance from
the treasury should he used. The
question was when this would come
to an end. Would the passage Of
this bill stop the Kings propensitles
for running into debt? 1t was 9
shame to have the Kings affairs
paraded within the very sight of the
graves of his ancestors who fought
and bled for the country.
Rep. Bush held that the bill con.
fiicted with the established law, thai
secured to the reigning sovereign
the revenue of the crown lands
This bill would deprive His Males
TVS successor, in case of change
before the debt was paid, of his
rightful income from the crown
lands.
Mobiles Widemann and Cornwell-
1t cannot be done. 1t is impossi
BILE.
Rep. Bush maintained that if hi:
bill had passed there would be NJ
need of this one. If crown lan(
leases were put up at auction Their
!, would be surplus ample to pay al
the Kings debts. Why not leav'
the matter with the trustees? The,
had paid some 5000, 900 and brough
the debt down to $40, 900, an,
should be left to do the rest. Mr.
Cartwright and Mr.. Damon were tw
, of the most trusty men in the King
dom, and the business might safel
be left in their hands. How coul
it be told, however, that if this re
, lief was granted the King woul
stop running into debt? A simila
bill was passed once before, but
was only blind, and this might b
the same thing. He often though
l the the King deserved big presen
e for his services to the country, ant
if he was rich enough he would Civ
him large sugar estate.
. Rep. Paehaole supported the bill
e There seemed to be misappreher
s sion about it. The Government wa
r not going TO give any money but
8 guarantee. Some members head
: were still sore about the defeat {
f that other bill yesterday, therefor
they wanted to reject this bill. Thi
G was no way to do the business {
the House.