The Hawaiian gazette., 1896-03-31

and approved by this Government. In
terest is due on this loan on the frs
DAYS of April and October. The inter
est on the different loans is scattered
through the rest of the year, the prin
cipal payments Of interest being due
on the lst day of January. April, July
and October. As l said, the interest or
the first Of next month will amount tC
$4,000. which will make total of S104,-
Oo9. which will leave us a small mar
gin. There are q few days left in this
month 10 swell that amount, but we
have enough to meet this months liza
bilities.
In the early part of April propose
to meet our January bills, and if the
situation in the treasury should not
warrant it, I propose to draw from
Bishop & Co., under the Act for that
purpose. the sum of $4,000. The jan
uary bills should be paid in the early
part OF April. While / am speaking on
the subject Of using the Act that has
granted the privilege to the treasury
CT securing funds from outside sources
temporarily. I want to say that l have
noticed in the newspapers that possibly
the Minister of Finance may use his
position as banker and his position as
Minister of Finance to make them har
mouious and have them work together.
/ can state that last summer when our
firm was changed and the present part
nership took over the business from Mr.
Bishop. we felt that a large amount OF
money would be required in the coming
fall. for the plantations and in general
business. large amount of coin being
required here in the fall between the
crops. And also to provide for what is
always sure to happen, the unexpected
for you never know what is going to
happen in money matters, and the same
rule applies to the treasury. That is one
of my strongest reasons for working
for a reserve. Bishop & Co. disposed
of its Government bonds and securities
that il held in Honolulu in the amount
of $4,000. So that at the present time
Bishop & Co. holds here in Government
securities $4,000, in the shape of a
promissory note of the Postmaster Gen
eral. and 81 500 in bonds Under these
circumstances / cannot think the Min
lister of Finance will be accused of using
his position as banker to work for his
own advantage. If Bishop & Co. had
not taken that position last year we
could not have drawn upon our credit in
San Francisco to supply the coin for
the cholera expenses.
When the subject of the Loan Bills
comes up, would like to meet the COM
mittee. and would also like to meet
any others who are interested in the
matter of finances, and viii hold myself
in readiness, so far as / am able, to |
answer any questions that may be put
TO NE. We must remember, and the |
Executive remembers, that in our pres |
ent position the people have good deal |
TO say about the management of the |
finances. The question of what style of
loan bill should be put upon the mar
ket, how much of the loan bill should
be put upon the market, and everything
that is done should have the most care
full consideration and the freest kind of
criticism. do not think there is an
Office in this Government that should
have more criticism than the treasury.
1t is the peoples money that is spent,
and Ct is the people who are being tax
ed, and the Executive is agreeable to
have everything connected with the
treasury criticised We do not know
what effect these loan bills will have.
The fact of putting upon the market
loan for public works may have a far
effect, not only on our own in ;
dustries, but il may affect our connec-
tion with the United States. !
Having made this statement, l will I
leave it to you to decide for the future.
[ shall make no other statement in re- !
gard TO my personal connection with
the treasury, but l will give you the i
freest hand 10 examine and criticise and
bring forward suggestions with refer
enee 10 the conduct of the Treasury de-
partment, for il is the life OF the Ma
ton" I
Senate Bill No u, relating to Ii
oenses, came up under the regular or =
Ter. and on motion of Senator McCand- !
less il was put over to Monday in order l
% give members more time for investi- G
CATION. q
On motion of Senator Brown, the re- l
port and recommendation of the Com t
nittee on the Great Seal was read. e
Senator Holstein spoke for the life 0
# the bird. He saw no reason why the 4
Diamond Head should be made any
more prominent than Cocoanut Island :
II Punchbowl. /
Senator McCandless also favored the
bird as against the Diamond Head. Sen
ltors Baldwin and Northrup supported
he report of the committee. IL
On motion of Senator Brown the re- o
port of the committee was adopted. t
Minister Cooper arose to a question
lf privilege to call attention to the
,act that the members of the Legisla- i
.ure would be called upon to elect five L
of the Council of State before c
he close of the session. o
On motion of Senator Brown, the
House amendments to Senate Bill No
were taken up. The Senate concurred +
n the amendments. q
Under suspension of the rules, Sen =
ltor Brown reported that House Bill
70. had been placed before the Presi-
lent for signature.
The Registration Act passed by the b
House was read the first time.
On motion of Senator Brown, the =,
,ill was referred for revision. :,
Under suspension of the rules, Minis =