The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1893-05-30

and those who were able to make
100000 deals could easily stand it.
Dir. Emmeluth illustrated an Oh
lection to Mr. Smiths argument, and
asked that it be explained.
Minister Smith explained that
there would be no stamp needed in
the case supposed by Mr.. Emmeluth.
MIR. Tenney explained that lack of
a stamp Gid not vitiate the certificate
of stock. As introducer, he favored
the passage of the amended bill.
Mr.. Wilder raised point as to re
dating certificates.
MIR. Tenney read a clause Of the
bill covering the objection.
Mr.. Allen said it was not SO much
the amount Of the tax that was OBJ
jected to but the annoyance which
it was thought would work a hard.
ship to poor people.
Minister Smith explained that the
objections offered by the minority
did not apply. The bill was neither
annoying nor inconvenient. In the
past it has proved the most simple
and easy, besides being a source of
large revenue.
Mr.. Emmeluth said there should
be some way of determining what
certificates were re issue; the certi-
fcates themselves should show this.
Minister Smith explained the sell
Ter must see his certificates were
stamped or they would be refused.
Mr.. Morgan thought it would be
unjust to tax one man and let another
escape, no matter what the amount.
He agreed with Minister Smith, and
saw no trouble In carrying out the
bill.
Mr. Wilder was opposed to the
bill providing 81 tax on each certi-
ficate. He believed in a revenue
measure, which that was not. He
agreed with Minister Smith.
Mr. Young stated that after care
full consideration, he would support
the original bill.
Minister Smith moved the indef.
mite postponement of the minority
bill. Carried.
Mr.. Wilder moved the indefinite
postponement of the majority bill.
Carried.
Mr.. Hatch offered slight amend
ment to the original bill to make it
clear, which was accepted by Minis
ter Smith and the bill passed to sec
ond reading.
Minister Porter arose and stated it
was his intention to withdraw from
the finance department today and
thought it would be as well that Mr..
Damon be officially appointed to sue
coed him at once. 1t wac his inten-
ton to leave for the Coast By the
Gaelic if he could get accommoda-
tions. In leaving he wished TO ex-
press the keen sense Of regret he felt
In parting from his colleagues.
AS long as he had held Office he had
entire confidence in them and he
would say here that he had never
seen a more harmonious body OF
men.
Minister Smith moved the accept
ance of the resignation at once. He
did this knowing the circumstances
of Mr.. Porter's acceptance of the
Office. The executive council highly
appreciated Mr.. Porter's work while
in office. It had been most satisfac-
tory; he had left the finances of the
government in a far better condition
than they had ever been in before.
The finances of a nation are of vital
importance, and their present splen-
did condition are due to the indie
fatigable labors of Ministers Porter
and Jones. It is with the deepest re
greet the executive council parts with
MIR. Porter.
The resignation was accepted.
Mr.. Damon was then unanimously
elected tc be minister of finance.
President Dole stated Minister
Damon's commission would be made
out today.
At 800 the councils went into ex-
ecutive session.