The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1892-12-16
THE LEGISLATURE.
14STH DAY.
FRIDAY, Dec. Is, 1892,
Morning Session.

The Assembly came to order at 8
o'clock for prayer. Roll call and
reading of minutes of previous meet
ing. A slight change was made in
the minutes, as read, and then APP
proved.
Noble Williams, from the Printing
Committee, reported certain bills
printed.
Noble Hoapili, from special com
mittee having the consideration of a
bill to provide for the appointment
of school teachers, for primary
schools, presented a minority report
and an amended bill which they
recommend pass. Tabled to await
majority report.
At 1923, on motion, the Unfinished
Business came up, bringing Horner's
Banking Bill again before the House
for consideration. The Assembly re-
solved into Committee of the Whole,
Re-. y lipuilani in the chair. On
mo,lon the majority and minority
reports were read. The majority
favor indefinite postponement, the
minority that the bill pass.
Noble j. NJ. Homer said that too
much stress should not be placed on
the majority report; it came from a
biased committee appointed by the
President. When the Temperance
Committee was formed no strong
advocates were allowed to serve
thereon. But on the Bank Bill the
President put on six known oppon-
ents of the bill, and they are the
ones who signed the majority re-
port. Again the report touched up
on Bill 7S and not on the Bill 125,
now before the Assembly.
Minister Brown said that the
President had acted fairly, as he
thought, and surely only within his
rights. He believed that the bill
is unconstitutional, and drew his
statements from Article IA of the
Constitution.
Rep. Smith believed enough had
been said on the matter and would
therefore resume his motion that
the Committee rise and recommend
the House to accept the report OF
the majority of the committee.
Rep. Ashford hoped that the bill
would be considered section by sec
ton. The bill had certain merits
which should be discussed at length
Many of the Objectionable feature:
of Bill rs had been eliminated in the
new bill. The member spoke al
considerable length on the probable
| benefits which would be conferred
on the public by the establishment
of this bank The bill, even if pass
ed, could not well go into operation
before April next; that would leav,
only ID months before another Legis
lature would convene, which coulC
stop any mischief which might b,
likely to result from this expert
ment.
Minister p. G. Jones shove,
up many of the fallacies in the pro
posed measure. The very notice O
the introduction of the bill ha,
caused the withdrawal of $4,000
in gold from the Postal Saving
Bank and had thus crippled tn
Government He did not conside
that it was necessary to discuss tn
question at great length, but h
would draw counter illustration t
the incident quoted by Noble Hol
ner wherein he yesterday ha
spoken of the energy of railroa
superintendent in overcoming eel
tain obstacles, by ordering his ell
gineer to try it, pull ahead" l
that case the attempt was to get on
of the difficulty, in this the advice
given by those in favor of this bill
to get in one.
Noble j. NJ. Horner spoke /;
considerable length in favor {
his measure and stated that, viii
he was opposed to the ban
as proposed by Mr.. Spreckels,
it was because it was corpor
ton measure and the benefits woul
accrue to the banker. In this til
benefits would accrue to the Cover
ment. In answer to question {
Rep. Smith he said that there W;
J no promise to redeem these not
in gold because that promise to p;
in gold was the seed of death whio
: had entered into the notes made !
other banks. His idea was to secu
!, the notes by gold values and to r
deem by gold values. This propose
bank would enable the poor man
borrow money at the same rate
the richest because the rates we
fixed by law.
Noble Marsden says this princip
of cheap money had nearly alwa
failed disastrously. There was
, cheap money experiment in Rho
, Island at the close of the Revol
tionary war. They issued pap
; money backed with land, the Leg
= lature passed forcing acts, but
one would take the money. Al
> that would be the effect with IL
: money, if we should pass this bi
the people will not take it. J
paper money ever issued was of a
account unless redeemable in co
either silver or gold. Noble Horn
had said that this bank had the see
of a life-blood within it, and tn
the American banks had the seed
! death as shown by their failur
!, but, he (the speaker would say I'll
- - every one of the notes of those ban
u were redeemed, He instanced [
=, depreciation in value that wol
q follow and the high prices viii
y would be charged for articles of fo
and wear if this measure passed,