The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1891-07-14

1891 account ACCOUNT. account aOan Balance lance
April $346 534 81 $151 ,O46 80 $40, 581 II
June 30. 236,899 Is 86,319 25 323,218 40
Decr'se.$1O9, 635 % 5 64.727 So STA, 1862 II
There has been an increase in
the public debt of $4,000, offset
in part by Postal Savings Bank
Withdrawals of $780, leaving a
net increase of debt of S28,1O 1t
is difficult to see why it became
necessary to borrow $91, 900 under
the Loan Act of 1886. Nothing
appears about it in the statement.
$4,000 is credited to the Postal
Savings Bank Loan Act, which is, If
the terms of the advertisement have
been followed, merely an exchange
OF four per cent debt on open &C
count for SO much bonded debt at
five per cent. The receipts on loan
account at the Postal Savings Bank
have been $500. ct is a little
singular that the figures show even
hundreds) The Withdrawals are
$82, 100, or less the amount con-
verified into bonds, $58,40O. This
shows large Withdrawals for other
investments, or a lack of confidence;
probably some of both. $73,80O
has been paid out for roads, part
at least of which was for old &C.
counts, over $1,000 for road damage,
and $12,325 of which is for mac
adamizing roads in Honolulu. The
new market has taken $3,254, and
$4,000 for fire-proof vaults in the
Government Building. It will now
require the expenditure of several
thousands probably to make por-
tions of the building burglar proof.
Yet the pay of police amounts to
nearly $4,000 for the quarter, and
it costs $1,000 to support the pris-
oners, but they have earned 1929.
1t will be in order very soon to
have an inquiry as to what the
police have earned, if Honolulu
continues to be the burglars para
disc. The cost of education in the
Government schools has been S42,-
$50. The St. Louis School has
taken $4,000. The Reform School
has cost a surprisingly small
amount, $745. The guard at the
Palace appears to be called the
Kings guard yet and cost SOP.
A year ago, at the close of the
Thurston Ministry, the balances
were, on current account, $137,-
$500; loan fund, 268,934.76;
Postal Saving Bank receipts, s45,-
O9s.16; Withdrawals, $57,661.46.
The amounts paid out for public
improvements were at the same
time heavier than during the
last quarter, and there was no in
crease of the public debt. The
present quarter, however, shows a
good increase in the same lines of
current receipts, as from the Post
Office, sale of stamps, water works,
etc. But on the whole it appears
as if current expenses are
in excess of current receipts.
Of course this cannot go on. The
next two quarters will however
cover the period when the taxes
are collected and it is to be hoped
will show a different result.
One of the most important mat
ters provided for by the last Legis-
lature was the deepening of the
entrance to Honolulu harbor.
Nearly year has passed and very
little appears, although much pre-
liminary work has been done. This
statement shows an expenditure of
S996.80 charged to that account.
But the question arises, how is it
proposed to pay for and carry on
the work; the balance remaining
unexpended under Section 3 of the
Appropriation Bill will not do it.
Upon the whole the statement
will repay careful perusal and
affords much food for thought.