The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-01-27
HAWAII BONDS GOOD.
Minister Thurston Rsfates Lies
o. Democratic LeadefA
ssptaTg upHoLps CLEVELAND.


washfnxfon City. Jan 1s.-Minister
Hnurst0n was seen today regzruing the
rtafement that The Hawaiian govern
a.rr.x vns selling bends In this country
- e cents on the dollar ~ the Dur-
p.ose q fnfnencfng feeling in favor OF
nnnexafiou.
e. Thursson auads ~ Following
statement
s-There Il no moro possibility Of such
I x3,ing being done BY the Hawaiian
xovernment than by the United States
government. BY law, the Hawaiian
eoxe<nxaeut can borrow money Tor two
errposes only. viz: First. 20 pay postal
savings hank deposfto<s In cara fhe
1feaeury - unable 70 meet the demAd:
second. for fhe purpose Of constructing
certain fnsprovements. such as war YES
6nels. roads, bridges, harhcrs and public
buildings, which, With the amounts TO
- spent for each. are specified In the
several acts authorizing the loans. So
lar from being in trouble concerning
1If,ass.tai matters the povizSonal Eovcr-
a,ent was ard the republic now ID
stronger In that department than IN
any other. The continuous balance IN
The treasury han ranged from 100000
70 100000.
.sff q were true that the royahsts had
not PAID their taxes. IL would make no
apprecsabls difference to the treasury.
a The amount which they pay II very
the rcyaliSta have nearly all p0dd Their
tares. the Asiinauents being no greater
Ia number or amount than ususs
As to selling bonds N this country
~ 70 cents on the dollar. there Is
5sat a shadow of frsth In either part
al the statement. In the first place the
several loan acts prohibit the issue OF
bonds at less than 90 cents on the dol
lar. and I'm the Eeconf place the gov
eminent has sold no bonds In this couyi-
try. ~ IL has borrowed all the money
Il needed right In Honolulu at S ard
per cent, the bonds being sold over
the treasury counter for par, no dis
count o1scomniission being paid or al
lowed 70 any one.
ssThe net Increase OF the debt for the
Ascal period ending March 81, 1894. was
$20o. ess. all OF which was expended on
public works specified In the several
boan acts. Not only has the govern
mcnf not been Obliged to borrow money
FOR current expenditures. but 1t has had
such large surplus on hand from cur
rent receipts that II advanced from the
current receipts In the treasury to tie
loan fund accounts the sum of $50. 493,
which was expended on the specified
public woks. and also met run OF
over 100000 on the postal savings
banks. As the end OF the period new
deposfts had reduced the amount 50
advanced from current receipts TO the
postal savings banks 70 Sels,402.
The new financial result OF the pc
Rod may be summarized az follows:
The government has paid all current
expenses; has built public works au.
thWized BY the several loan acts TO the
amount OF 200. for which 1t bor-
rowsd money In round numbers only
500. 200. the remaining sum being fur
nisbcd from current receipts, and paid
all bonds and treasury notes maturing
DUNG the peiod. amounting to $4,000;
has paid ali maturing interest on bonds,
amounting to $4,000; has repaid 10
postal savings bank depositors the sum
Of Sa1o, 900: deposited ia a sinking fund
TO meet bonds maturing In the future
the sum OF sei.5s5. end closed the period
with sS70,2z9 m The treasury.
The government Is now Installing A
pumping plant and additional water
eaaias in Honolulu. To the amount OF
about $4,000 All OF the pipe and ma
chinefy were bought In this country.
II IL also building a series OF wharves
from 800 TO 500 feet in length TO accom-
nodate the large steamers now running
20 Australia and Japan"