The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-27
MILLS'S LIE NAILED.
No Hawaiian Bonds Offered for Sale
in the United States.

WASHINGTON. Jan. 26.-AIinster Thurs
ton seen to-day relative to the state
ment that the Hawaiian govern .nent was
selling bonds in this country at 25 cents
the dollar for the purpose of influencing a
feeling in favor of annexation. Mr.. Thurs
ton made the following statement: There
is no more possibility of such thing being
done by the Hawaiian government than by
the United States government. By the law
the Hawaiian government can borrow mon-
ey for two purposes only, namely: First,
to repay postal savings bank depositors in
case the treasury is unable to meet the de-
mand; second, for the purpose of construct
ing certain public improvements, such as
wharves, roads, bridges, harbors and public
buildings which, together with the amount
to be spent for each are specified in the
several acts authorizing the loans. So far
from being troubled concerning financial
matters, the provisional government was
and the republic now is stronger in that de-
partment than in any other. The continu-
Gus balance in the treasury has ranged from
100000 to 100000. If it was true that the
Royalists had not paid their tax il would
make no difference to the treasury as the
amount which they pay is but very small.
hs, AS matter OF fact, however, the koyailsts
hnquents being no greater in number or
amount than usual.
% cents on the dollar, there is not IA shad-
ow of truth in either of the statements
nrobihst In the frst M place, the several loan acts
cents on-the dollar, and in the second place
the government has sold no bonds what
soever in this country. as it has bor-
rowed all the money that it needed right
in Honolulu at 5 and per cent the bonds
being sold over the treasury counter for
par, no discount or commission being paid
or allowed to any The net increase
OF the debt ioo for the . fiscal period ending
was expended on the public works specified
in the several loan acts. Not only has
the government not been obliged to bor-
row money fer its current expenses hut
it had such large surplus OF, hand from
current receipts that it advanced from the
fund accounts $S2693. which was expended
on the specified public works and also met
run of over 100000 on the Postal Savings
Bank. At the end of the period deposits
had reduced the amount so advanced from
current receipts to the Postal Savings Bank
to $219,4 4o2 The new financial result of the
period may be summarized as follows: The
government mas paid all current expenses;
has built public works. authorized by the
several loan acts to the amount of $3.50
Geo. for which it borrowed in round num-
bers only 100000, the remaining sum be-
ing furnished from current receipts: has
paid all bonds and treasury notes Ynatur-
ing during the period, amounting to $780,
o00; has paid all maturing interest on bonds
amounting to 1913, 900; ha< repaid TO Postal
Savings Bank depositors ne sum of s2l9-
coo; has deposited in I'll. sinking fund 70
meet bonds maturing in the future the
of $24. 773, and closed the period with
$220310 in the treasury.
The government is now installing
pumping plant and additional water mains
in Honolulu 10 the amount of about $780,
Coo. All of the pipe and machinery were
bought in this country II Is also building
in length to accommodate the large steam-
now running 10 Australia ana Japan"