The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1892-12-15
THE LEGISLATURE.
147TH DAY.
THURSDAY, Dec. Is, 1892.
Morning Session.

The Assembly convened at 9 a. M,
prayer by the Hon, j. NJ. Tosepa, act
ing as Chaplain, Roll call and read
ing of minutes of previous meeting
approved.
Rep. White offered resolution
that the Assembly adjourn at IL
o'clock in honor of the memory of j.
W. Kalua, Esq, late member of the
Legislature. Adopted.
A letter was read from the Homo
lulu Chamber of Commerce, pre-
senting the following resolution to
the favorable notice of the Assem-
bly,, viz:
Resolved, that in the opinion of
this Chamber the passage of such an
Act is most undesirable for the in
terests of commerce and the public
credit Sgd j. B. ArHERroN,
Secretary Honolulu Chamber of
Commerce.
Rep. r. w. Wilcox said that he
was sorry that the resolution and
letter had been presented. 1t look
ed as if the Chamber of Commerce
considered that we do not know how
to transact our business and wanted
to give us advice.
Several voices-It looks very much
like that way.
Rep. Wilcox Continuing, said
that if it was not for hurting the
feelings of the gentlemen composing
the body he would move the in
definite postponement of the resolu-
ton.
Rep. Kamauoha moved, and it was
carried, that the resolution be re-
ceived and considered with the bill
At 9.2S the Assembly resolved into
Committee of the Whole for the
consideration of Horner's Banking
Bill, Rep. Waipuilani in the chair.
The Attorney General moved that
the committee rise and recommend
that the Assembly adopt the major
ity report of the committee on the
bill ii. e., to table,
Noble j. M. Homer moved the
bill be considered section by section.
The report mentioned, by the At
torney-General, was written by in
telligent men whom he much respect
ed, but he begged to differ from
them. He presumed that he was
schooled in the same system of cur
rency as many of these gentlemen;
but he had now arrived at the age of
three score and ten, and past, and
had seen many ups and downs, occa-
stoned by a.false financial system. He
at one time literally been knocked
down by one of those systems even
as Paul was, on his way to Damascus,
but, when he rose up, the scales had
fallen from his eyes. He had pro-
missed himself a good many years
ago that he would give those false
systems dig under the fifth rib on
every opportunity. He defed any
argument to show that this bill will
not cure any money panics in any
country that adopts this bill Why!
Because this bill contains the seeds
of business life-blood. To satisfy
the prejudices the original bill has
been amended so as to limit the
issue. The Ministers will tell you
that the Government is in a financial
pilihia; by this bill they can get
100000 and the people can borrow
100000 more. Now, that we are in
trouble, is good time to try this be-
cause all that the Government issues
of this money they will take good
security. He related the incident of
a railroad smashup, and after the
wreck had been cleared there was
doubt about the trial of certain
onward movement the engineer and
superintendent disputed, the passen-
gers all waiting until at last the
superintendent said, "Oh hell! try it
try it.' and try it they did and the
train rolled over the Instructions
and went on it's way. This is a case
in point, here is a measure offered
that should be tried. Almost the
whole world is now affected with the
sickness of financial depression and
these Islands are troubled that way
too. He favored going over the bill
section by section. 1t has had three
days discussion now, in general
way, but he considered the time
could not be better spent if they
discussed it for day or two more
even if the bill was finally rejected
The discussion would school them
in one OF the great questions of the
day.
Noble Williams supported the mo-
ton that the report of the majority
of the committee be adopted. TC
consider section by section was tc
admit that the principle of the bill
was correct; he did not so admit. He
had every confidence in the rectitude
and integrity of the introducer, but
he believed that the gentleman wa,
mistaken The speaker desired tc
relate an instance of late occurrences
to show the liability of the intro
ducer to be mistaken.
Noble j. M. Horner-I wish tn,
bill to stand on its merits, not OF
my merits.
Noble Williams said that it wa
proposed by this bill to rectify The
false financial systems of the worlc
and especially those of the United
States. He desired to know tn,
wrong existing in the financial sys
tenn of the U. S., with its treasur,
loaded with millions of gold, or ii
that of France which, after the terri
BILE ordeal of the Franco PrussiaI
war, produced and paid out billion
of francs. He did not consider tina
the 'pant lnman could nray,o tbaI n;