The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1896-02-22
Total estimated increase of

"From these estimates and from
these appropriations which from pres
ent Unforeseen causes may not be ex-
pended, L hope for a surplus on De-
cember 81, 1897, of $4,000
The anticipated revenue arising
from the proposed change in the dates
of assessment and collection of taxes
wi not take effect until 1897, amt tor
| nearly the same cause, though it's
adoption would be more gradual, the
increased revenues for licenses will
not be made in 1896.
"TO meet the calls OF the treasury
during the interval, the act to fur
tber provide for the payment of cur
rent accounts is asked for, to bridge
over the interval should the Execu-
tive find it necessary. This act Is
fixed for the duration of two years
and 1t is not apprehended that more
than $150,000 will be required at any
one time, aud this will be repaid from
current revenue at any time when
funds from that sOurcei s in hand.
Dealing with Loan Funds.
"The statement that L have made
brings US now to the point where we
leave the current revenue. / think it
has been a very happy method of
handling the finances of this country
that the different Ministers in past
times have eudeavored to separate the
currents funds from the loan funds;
that as much as possible We may
cOnfine our expenses to general
expenses of the Government, so
that if we expend loan funds or
current funds there shall be for that
expenditure something ia return;
there shall be something coming
of hi no
what has a certain sum been expend-
e for, there will be something to
show for it. Ii the books of the Gov
eminent should be kept, and as we
hope they will be kept some day,
where we have an acrOunt 20 tnAt our
our land resources, our pubic build
ings, our school funds, etc, can show
everything that has been expended
for each, this will certainly snow an
advance in the interests of the coun-
try.
To Consolidate the Loan.
ave leave now the current account
and in very few words / wish to
state what the proposition Of the Exc
cutive Is with reference to our bonded
loan fund account. The present debt
of the country is something over
SO 100000. These bonds show interest
from II per cent. down to 5
per cent. There are a few Cf the
bonds bearing interest at II per cent.
/ think only SIS 600 belong to the
Board Of Education, others bearing
int crest at per cent., great major
ity at per cent. and afew at 5 per
cent. The proposition of the Execu-
tive is TO ask the Legislature TO pass
an act aIlowi0g the Minister of Fin
auce at such time as be may think
prudent To consolidate the pres
ent bonded debt Whether this
is done partially here and parCi-
ally in foreikn government or
here or entirely in foreign
remains with the future
developments.
81 have sent \ copy of the act which
L originally drafted, to London for
consideration and 10 obtain their
view / have secured the advice of
men who were Interested in loan mat
ters and the draft was prepared after
reviewing the subject; the
draft Was then submitted TO counsel
and redrafted aud submitted to the
Executive who allow il now to come
before the Legislature.
g was advised that it would not be