The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-01-27

Washington, Jan 26-Ainister Thur
ston was seen today relative to the
statement that the Hawaiian govern
nlent was selling bonds in this coun-
try at % cents on the dollar for the
purpose of influencing a feeling in ia
vor of annexation. Mr.. Thurston made
the following statement:
There is nc more possibility Of such
thing being done by the Hawaiian
government than by the United States
government. By law the Hawaiian gov
eminent can borrow money for two
purposes only; viz: First-To pay
postal savings bank depositors IN case
the treasury is unable do meet the de-
mand; second-For the purpose Of con-
structing certain public improvements,
such as war vessels, roads, bridges,
haroors and public buildings, which
together with the amounts to be spent
for each, are specified in the several
acts authorizing the loans. So far from
being trouble concerning financial mat
ters, the provincial government was,
and the republic now is, stronger in
that department than in any other.
he GpullIOOuS DdllIltC III LIE IIG6LS-
ury has ranged from 500, coo to S400, 900.
If it were true that the ROyalists
had not paid their taxes, it would make
no appreciable difference to the treas
my, as the amount which they pay is
very small. AS a matter Of fact how
ever, the RoyalistS have nearly all paid
their taxes, the delinquents being no
greater in number OF amount than
usual.
Not a Shadow OF Truth,
GAS to selling bonds in this country
at % cents on the dollar there is not
a shadow Of truth in either part OF the
statement. In the first place, the sew
eral loan acts prohibit the issue of
bonds at less than 90 cents on the dol
lar and in the second place the govern
nent has sold no bonds over in this
country, and it mas borrowed all the
money it needed right in Honolulu at
and 6 per cent, the bonds being sold
over the treasury counter for par no
discount or commission being paid or
allowed to anyone.
The net increase of the debt for the
fiscal period ending March 81, 1874, was
S2OO,29S, all of which was expended on
the public works specified In the sew
eraI loan acts. Not only has The gov
eminent not been obliged to borrow
money for its current expenses, but II
mad such a large surplus on hand from
current receipts that It advanced from
the current receipts in the treasury u
the loan fund account, the sum OF
$S2, 493, which was expended on the
specified public works, and also met a
run of over $300,00 on the postal say
sngs bank. At the end of the period
new deposits had reduced thu amount
SO advanced from current receipts to
the postal savings bank to $219, 402.
'sThe new financial result of the Pc
Tiod may be summarized rs follows
The government has paid all current
expenses; has built public works au-
thorized by the several loan acts to the
amount Of S2S9000, for which L Dor
rowed in round numbers only 100000
the remaining sum being furnished
from current receipts, and paid al
bonds and treasury notes maturing
during the period, amounting 20 $500
has paid all maturing interest or
bonds amounting to 1873, 600: has repaid
to postal saving bank depositor5 Inc
sum of $219, 600; has deposited a sink
ing fund to meet bonds maturing in TIE
future in the sum of $24,775; and closed
the period with $3.50, 229 in the treasury
1.-THE government is now Installing
a pumping plant and additional watel
mains in honolulu, to the AMOUNT q
about $780, 900. All Of the pipe and ma
chinery were bought in this country. L
is also building series OF Wharves
from 800 to 600 feet in length, 10 &C
commodate the large steamers now
running TO Australia and Japan"