The Pacific commercial advertiser., 1892-08-25
RESOLUTIONS.
AFTERNOON SESSION.

The House re-assembled at 1:50 PM.
Under suspension of rules, the Min
lister of Finance gave notice of an Act
authorizing the Minister of Finance
to continue paying salaries until Sep
tember 80.
The bill was read by title.
Rep. Smith wanted to know at what
rate these salaries were to be paid-at
the old rate?
Minister Widemann said there was
nothing else to go by.
Rep. Smith was opposed to that.
So was Rep. Kanealii. According
to him, the new Constitution was at
the bottom of the trouble.
Referred to Finance Committee.
Noble Marsden read by title an Act
to exempt certain forest lands from
taxation.
The bill was read a second time by
title, and referred to Committee on
Public Lands, without printing.
Rep. r. w. Wilcox introduced a
resolution requiring the Cabinet to
require he Board of Genealogy to
present to the Government record
of all genealogies collected by them,
and providing for q committee of five
to examine the same, and report to
the Legislature of 1894. Adopted.
Rep. Kamauoha moved that Bill 79
be taken from the select committee
and referred to the Finance Commit
tee. Carried.
At 2 30 P. NJ. the House proceeded
to the
ORDER OF THE DAY.
Second reading of an Act to further
secure Postal SavinSsBank depositors.
The report of the Finance Committee
was read. The bill provides for the
issue of Treasury notes, payable in not
less than three months nor more than
eighteen months, and bearing not
more than per cent. interest; such
notes to be issued only for the purpose
of securing funds to meet withdraw
ais. The bill was considered section
| by section.
Section l was read.
Rep. lZamauoha inquired why the
advertisement was to be in English
only. He moved the words "and
Hawaiian" be inserted.
The section was passed as amended.
Section was read.
Rep. Smith moved to add the words
"and shall be exempt from taxation
Rep. Kamauoha opposed that.
Rep. Smith said there must be no
doubt about their being non-taxable,
or their saleability would be affected.
The interest was low-only per cent,
the same as Government bonds.
Noble Macfarlane explained that
they were really short term bonds.
The ordinary Government bonds are
not taxable.
Noble Baldwin and Minister Wide
mann also supported the motion of
Rep. Smith.
Noble Marsden thought the Trea-
sury notes might be issued for $3.50
and $500; for the benefit of small de-
positors in the postal Savings Bank,
who might take these notes instead of
leaving their money on deposit.
The section was passed, with the
provision that the notes might be
issued in denominations of not less
than $500 nor more than $1,000.
Section was read.
Rep. Smith moved the money raised
on these Treasury notes be made q
special deposit, only to be used for
drafts from the bank, otherwise it
would not operate to secure the de-
positors.
Minister Widemann: Suppose on
the 28th of the month there were
$4,000 withdrawn, which just eX-
hausted the cash in the Treasury. On
the 29th came in $4,000 in Treasury
notes. Shall this money not be used
to meet the immediate demands on
the Treasury?
Noble Macfarlane appreciated the
desirability of making the money a
special deposit, but we were in no
position to do that just now. The
Treasury must be recouped for the
Withdrawals of the past weeks. He
favored passage of the section as it
stood.
Noble Thurston said the Treasury
had already paid out $170,OO0 to meet
Withdrawals. He questioned whether
the Government could borrow any,
thing to recoup itself for this amount.
In order to cover this point he would
offer an amendment providing that
such moneys might be repaid to the
Treasury out of the receipts from such
| notes.
Both amendments and the section
! passed.
Section passed, and the enacting
| clause and the whole bill. Thursday
was set for the third reading.
| Notices of committee meetings were
given.
| At 3:20 the House adjourned.