The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1894-01-16
THE LONDON LOAN.

practice ''native medicine"
THE LONDON LOAN.
The King had been convinced that,
for the present, he must forego his pet
scheme of ten-million loan. A two
million loan bill, however, was
brought in early in the session, with
the view of obtaining the money in
San Francisco. The subject was drop
ped for time, then revived again,
and the bill finally passed Septem-
Der l.
Meanwhile, the idea of obtaining a
loan in London was suggested to the
King by Mr.. A. Hoffnung, of that
city, whose firm had carried on the
Portuguese immigration. The pro-
ed that creditors at so great distance
would not be likely to trouble them
selves much about the internal poll
tics of this little Kingdom. Mr..
H. R. Armstrong, of the firm of
Skinner & Co., London, visited Homo
lululu to further the project, which
was engineered by Mr.. G. w. Macfar-
lane in the Legislature.
Two parties were now developed in
that body, viz, the Spreckels party,
led by the Ministry, and the Kings
party, which favored the London
loan. The small knot of Independent
members held the balance of power.
The two contending parties brought
in two sets of conflicting amendments
to the lean act, of which it is not ne
cessary to give the details. AS Ka-
ulukou put it, "the amendment of the
Acknowledgement provides that if
they want to borrow any money they
must pay up Mr.. Spreckels first. He
that the Government
owed Mr.. Spreckels 100000 or $780,
900. He has lent them money in the
past, and were they prepared to say
to him, I'VE have found new friends
in England'-togive him slap in
the face?"
On the other side, Mr.. J. T. Baker
twas tired of hearing certain gentle
man spoken of as a second King. AS
this amendment was in the interest
Of that gentleman he voted against
t." illusions were also made to the
reports that the waterworks were GO
ng TO be pledged to him. When TIE
decisive moment arrived the indie
Dendents cast their votes with the
Kings party, defeating the ministry
1y % votes to IA. The result was that
he cabinet resigned that night, after
which Gibson went on his knees to
he King and begged to be reappoint-
ID.
The next morning, October IA, to
he surprise of everyone and to the
disgust of his late allies, Gibson re-
in the house as premier,
With three native colleagues, viz,
Aholo, Kanoa, and Kaulukou. But
rom this time he had no real power,
Is he had neither moral nor financial
The helm of state had slip
bed from his hands. Mr.. Spreckels
allied on the King, returned all his
and shook off the dust
rom his feet. The Legislature appro-
lriated 100000 for a gunboat and
$4,000 to celebrate the Kings fiftieth
In this brief sketch it is impossible
o give any idea of the utter want of
honor and decency that characterized
he proceedings of the Legislature of
$50.
The appropriation bill footed up
g, $50, 755. 80, while the. estimated re-
eipts were 81, 356, S7O.42.
HE SEQUEL OF THE LONDON LOAN.
From the report of the Minister of
finance for 1855 we learn that Mr.. H.
Z. Armstrong, who had come to Ho-
lolulu as the agent of the London
indicate, was appointed agent of the
Hawaiian Government to float the
oan. He was also appointed Ha-
vaiian Consul General for Great Brit
in, while Mr.. a. Hoffnung, previ-
usly referred to, was made Charge |
y A ffaireS