Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-01-26
Mr.. THURSTON'S STATEMENT
The Charges as to Hawaiian Bond Sales
Emphatically Denied.
A Showing of the Actual Financial
Royalists Paying Their Taxes.

Minister Thurston was seen today rela-
tive to the statement that the Hawaiian
government was selling bonds in this coun-
try at % cents on the dollar for the pur-
pose of influencing feeling in favor of an
nexation.
Mr.. Thurston made the following state
ment:
There is no more possibility of such a
thing being done by the Hawaiian govern
ment than by the United States govern
ment.
by law the Hawaiian government can
borrow money for two purposes only. viz:
Il. To repay postal savings bank de-
positors in case the treasury Is unable to
meet the demand.
'2. For the purpose of constructing GER
tain public improvements, such as wharves,
roads, bridges, harbors and public build
ings, which, together with the amount to
be spent for each, are specified in the sew
eral acts authorizing the loans. So far
from being troubled concerning financial
matters, the provincial government was
and the republic now is stronger in that
department than in any other The con-
tinuous balance in the treasury has ranged
from 100000 to s4o0,OOO.
IF it were true that the royalists had
not paid their taxes 1t would make no ap-
preciable difference to the treasury, as the
amount which they pay is but very small
AS matter of fact, however, the royalists
have nearly all paid their taxes, the de-
hnquents being no greater in number or
amount than usual.
Not n Shadow of Truth.
"As to selling bonds in this country at
25 cents on the dollar. there is not a shadow
of truth in either part of the statement.
In the first place, the several loan acts pro-
hibit the sale of bonds at less than %
cents on the dollar, and in the second place
the government has sold no bonds what
soever in this country, as it has borrowed
all the money that it needed right in
Honolulu at and 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, 1894, was
S200,23 all of which was expended On the
public works specified In the several lean
acts. Not only has the government been
obliged to borrow money for Its current eX-
penses, but it had such a large surplus on
hand from current receipts that it nd-
vanced from the current receipts In the
treasury to the loan fund accounts the
sum of $S2,6 ,623, which was expended On the
specified public works, and also met a run
Of over 100000 ON the postal savings bank
AT the end of the period new deposits had
reduced the amount so advanced from cur
rent receipts to the postal savings bank
to S219, 402.
1.-THE net financial result of the period
may be summarized as follows:
Financial Summary.
'The government has paid all current
expenses; has built public works author
lied by the several loan acts to the amount
of $685. 600, for which ii borrowed in round
numbers only 100000, the remaining sum
being furnished from current receipts; has
paid all bonds and treasury notes matur-
ing during the period. amounting to So
coo; has paid all maturing interest on
bonds amounting to $4,000; has repaid
to Postal Savings Bank depositors the sum
of S219,U00; has deposited a sinking fund
to meet bonds maturing in the future the
sum of $24, 1I5 and closed the period with
$220319 in the treasury.
THE government is now installing a
pumping plant and additional water mains
in Honolulu, to the amount of about $780,
600. All of the pipe and machinery were
bought in this country. 1t is also build
ing series OF wharves from 800 to 600
feet in length to CCmmodate the large
steamers now running to Australia and
Japan; and is pushing the construction Of
macadamized roads throughout the coun-
try to open the crown and government
lands heretofore inaccessible. while 1t Is
entirely reorganizing the land system SO
that small farms can be obtained by act
ual settlers on liberal terms.