The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1896-06-03
MINISTER DAMON
FACES THE ISSUE
Talks to Senate on the Ma
tionaI Finance.
SESSION EXTENDED TEN DAYS
Getting Down to Business and
STRENGTHENING Out the Snarl-Re-
funding Bill Assumes Definite
Shape-House Ready and Waiting.
Ninetieth Day.
TUESDAY, June Cd.


At the opening of the Senate Minister
Cooper presented a proclamation by the
President extending the legislative ses-
sion ten days.
The Judiciary Committee reported on
the sake bill, recommending striking
out the word sake and placing the duty
on sill wines other than those pro-
duced from juice of the grape. The re-
port was received to be considered with
the bill.
House bill No. 49, relating to appeals,
passed the third reading.
Under suspension of the rules Min
lister Damon offered statement upon
the loan and refunding bills, as fol-
lows:
Some time ago, when l was in per-
plexity over some transaction L went
to my genial friend Paul Neumann for
advice, and he made this remark to
me: Damon, never shirk the issue.
Everything connected with the transac-
tion except those few words has gone
from my mind.
Since the Senate took the bills off
the table, which were presented by the
Executive in the first part of the ses-
sion, [ have resolved in my mind
whether to say anything more on the
subject of the refunding bills, the loan
bills or anything connected with the
financial affairs of the country &t this
session. But the more | thought the
matter over, the sage remark of. Mr.
Neumann, Never shirk the issue; and
whether what l am about to say will
have any effect or not, l shall feel that
at least l have done my duty as Minis
ter of Finance in presenting my views
to the Senate.
Since the refunding bills were ta-
ken off the table | have yielded to ev-
cry point that has been asked, even to
what l considered to be a most vital
point, and still consider so. | refer to
the right to refund. By advice | was
induced to yield this point, and stand
as a member of the Cabinet recon-
mending the passage of the bills as
they now stand. AS far as the refund
ing bills go, they may be considered
outside of this discussion.
1--WE come next to Bills No. 20 and
81 These bills were introduced so as
to secure a continuity in the matter of
loans, so that they should have uni
form rate of interest and if necessary
could be placed upon foreign markets;
and to keep future borrowing as much
as possible within certain prescribed
limits and procedure. The Senate has
passed, in place Of those two bills,
Bill No. 46 to authorize a national loan
and the issuing of bonds as security
therefor. From the experience we have
had during the last two years, which
[ was careful to explain to the Senate,
where items are specifically mentioned
in the Loan Act, it is no end of trouble
and difficulty to the Executive to keep
all those items properly adjusted. The
will fall short on some
items and be far in excess of the ex-
penditures in others. thereby injuring
the effect of the bill. That has been
the effect of the previous bill passed in
1892
Another point in regard to this bill
No. 46-is that it was not introduced
by member of the Cabinet The
reads. Article 20. Section
3. No appropriation bill or bill pro-
viding for national loan shall be in
trOduced by any one except mem Der
of the Cabinet. Provided however. /
that any member may introduce a bill
the permanent appropriation
bill for salaries and pay-rolls herein
provided for leave it to your good