Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-09-26

though the interest paid vas reduced from
6 To a IL per cent, the excess OF deposits
over Withdrawals amounted TO sIf2 1873.
The total amount Of deposits March 81,
1890. was 1856 500. During the period
there was expended upon the public works
specified by iaw from the deposits the sum
Of SIT ,0s2. The uninyested surplus OF
deposits and current revenue 10 the treas
ury March 81, 1890, vas s49l l52, in add
ton to a large amount of special deposits
for roads, schools, &c.
4. The royalist faction came again into
power At the beginning of the period 1890
'J2. Their advent, was signalized by an i'm
mediate shrinkage of deposits, Withdrawals
continuously exceeding deposits until low
water mark was reached June Is last. when
the deposits amounted to only s49o 1868,
since which time, the provisional govern
ment being in power, they are again incfeas-
ing.
In order to repay depositors the royalist
government exhausted the surplus in the
treasury and then borrowed wherever it
could get the money. Among other loans
il obtained s95 900 from you, paying l-2
and per cent. interest therefor. This was
the amount which you suddenly demanded
immediate payment Of from the provisional
government on the 29th of May last, and
which amount WAS forthwith subscribed by
the merchants Of Honolulu when they heard
of your endeavor to embarrass the provi-
sional government.
This was the loan Of which spoke to the
Post reporter. lie confused the govern
ment' with the Queen" and made me say
that the Queen borrowed it. This confusion
is not surprising, as the Queen herself has
had difficulty in discovering the difference
between herself and the government, and
you and other royslist supporters still insist
that the government cannot exist without
the Queen.
M. SprecksIs' Third Question.
Mr.. Thurston says that the most signif
cant sign of the governments stability was
shown in the recent issue of bonds. Will
he please explain to me who bought those
bonds,
| reply that they were sold over the treas
ury counter at par to all corners, and have
been purchased exclusively by residents of
Hawaii, who know their commercial value.
M. sprecksIs' Fourth Question.
He (Thurston) says there is no lack of
confidence among the people. desire 10
have him answer ME why the provisional
government has moved into the palace, pu,
the soldiers in the basement and in the yard,
placed sand-bsgs around for protection, and
stationed guns in front of the palace. Does
he call this stability of government and con-
tidence of the people.
In reply would say that the govern
ment has moved into the palace because
it is public property, and is and always has
been the headquarters Of the executive de-
partment of the government.
1t has put the soldiers in the basement
because that is an appropriate residence for
them, it having been fitted and used for
that purpose for number Of years past
Moreover, they are stationed there, and
other military precautions have been taken,
which, however, are exaggerated by you
to prevent you and other royalist support
ers from carrying out your constantly
reiterated threat of deposing the govern
ment and restoring the ex-tlueen by force.
During the past few months you have
constantly denounced the leaders of the
provisional government as thieves, rob
bsrs." liars, and "murderers; you have
thrown all the influence of your name and
money and devoted all your energies to in
lure and discredit the provisional govern
ment, and to stirring up the dregs of the
population in Honolulu, both native and
white, principally the latter, to insurrection
When. in spite Of all that you and the re-
msinder of the royalist faction could do,
the provisional government has maintained
peace, accumulated a surplus in the treas
ury, established q home market for its
bonds at par to the full amount that it de-
sires to borrow, for the first time in three
years changed the Postal Bank deficit into
a surplus, and, in the face of continued
and vituperative misrepresentation AMI de-
traction. continues to administer the gov
eminent firmly, economically. and equita-
bly think that | am justified in claiming
that it possesses the confidence of the PEG
pie.