The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1893-05-29
PROVISIONAL LEGISLATURE.
Proceedings of the Meeting Held This
Afternoon.

ters Dole (PresidenD, King, Porter
and Smith; Councillors Damon Vice
President), Hatch, Emmeluth, Allen,
Waterhouse, McChesney, Tenney,
Young, Mott, Wilder, Bolte and
Morgan.
Minister Porter read the weekly
statement, as follows:
Cash on hand, May 20, 1893, $780,
260.55.
Receipts, week, sale of bonds,
$1,000.
Receipts, week, general revenue,
Total, S63,546.34.
General expenses for week, S66O4.-
So.
Available cash, May n, 1893, $780,
941.7S.
Outstanding indebtedness:
Treasury notes, S4l 900.
p. M. G. notes, Sl69,0O0.
Total, S210,O0O.
Overdue Indebtedness:
Treasury notes, $4,000.
p. M. G. notes, $4,000.
Total, S139,0OO.
POSTAL SAVINGS BANK MEMO.
Excess of payments over receipts
during this period, S37 ,52l.36
Total notices Withdrawals, P.S.B.,
to date, S43,0S5.
Due depositors this date, $780,
202.9S.
Notices maturing this date, S562S.
Estimated deposits for month of
May, $4,000.
, Excess Withdrawals over deposits
for week, S1S47.56.
Cash on hand, p. S. B., this day,
S3S493S.
GOVERNMENT EXPENSES.
Expenses Provisional Government
to date, S64,S75.53.
Expenses Provisional Government
during week, S677. e
SECTION TWO MEMO.
Paid to date, Section 2, Appropri-
alton Bill, S143,24460.
Outstanding bills, $4,000.
TREASURY CASH MEMO.
Silver in treasury to redeem certi,
ficates, $4,000.
Road Board fund in treasury, $35,
SO3.36.
School Board fund in treasury
1896.
Available cash, as above, S56,941.
rs.
Total cash in treasury, S4O5, ss1.14
The bill to amend the Stamps Act
was read by the Secretary.
Mr.. Allen presented minority re-
port, recommending different provi
sions in part from those of the bill
reported by a majority of the Judi
ciary Committee.
1t was agreed to consider the
minority bill with that of the major
ity. Also, on motion of the At
torney- General, that the original bill
be considered at the same time.
Acknowledgement Smith movet
the adoption of the original bill
When the Stamp Act was intro
duced it met with great deal o
opposition. 1t was purely revenue
measure. In experience the opposi
ton wore away, as the law wa
found to be a source of revenu
without the burden being felt. Fo
the period ending March 81, 1885
the revenue thus derived amounted
to S99,S24.50. Great attention wa
given to the amendment of the Law
by the late Minister of Finance, MI
Widemann, and his successor, MI
Macfarlane. The rate was placed a
81 in the thousand on stock valua
tons. That idea of the tax bein
so burdensome he held to be
fallacy. He thought the idea S
strenuously urged by different mem
bers that they should not go int
unnecessary legislation ought to ap
ply in this case. The bill original
introduced was simply to proven
evasions of the tax in the transfer c
corporation stocks on the book!
With $4,000 or $4,000 a year com
ing from this source, the speake
urged it was not right to abolis
it, just because some people di
not want to pay the tax. 1t was nc
burdensome to anybody. You say
poor woman has to pay the tax on
hundred dollars of stock. She woul
have to pay just 20 cents. Anyon
who made deal of 100000 coul
afford to pay the tax in proportion
Mr.. Emmeluth asked question
eliciting fuller explanations of tn
law from the Acknowledgement.
Mr.. Tenney, introducer of tn
original bill, also gave explanation
Mr.. Allen contended that it W;
not the money so much as the al
noyance which made the tax III
popular
Acknowledgement Smith replied
a running fire of questions and oil
jections, claiming the law was easil
understood and, as useful revenr
measure, ought to stand. In answ'
to Mr.. Emmeluth he said in the ca!
of a secretary selling rs out of
shares, the stamp must be on I'll
sold shares; there was no tax {
shares that did not change owne
ship; the responsibility for havir
the required stamps affixed was Il
secret ary's,