The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1900-06-30
CASH RECEIVED.

The payment of the depositors in the
Postal Savings Bank will relieve a seri-
GUS stringency in the money market A
change Of government such as we had
was bound to have some little friction,
especially as there was so much of an
engrossing nature at the close of Con-
gress that a small thing like Hawaii
and her affairs could easily drop out
of sight.
1t was the intention of Congress to
provide both for the loan, and for the
depositors of the Postal Savings Bank.
but in the rush of business at the end
of session no provision was made. For
tunately the depositors in the Postal
Savings Bank can get their money.
through a New York banking firm. The
postal savings bank depositors were in
rather bad fix, because until arrange
ments could be made by the American
government, they We're out both their
money and their interest after July 1st
The sections of the Act relative to the
postal savings bank read as follows:
Section 1O2. That the laws of Hawaii
relating to the establishment and CON
Guct OF any postal savings bank or in
stitutlon are hereby abolished. And The
Secretary Of the Treasury, in the exc
cution OF the agreement of the United
States as expressed in an Act entitled
Joint Resolution to provide for annex
ing the Hawaiian Islands to the United
States approved July seventh, egh-
teen hundred and ninety-eight, shall
pay the amounts on deposit in the Ha-
Waiian Postal Savings Bank to the per-
sons entitled thereto, according to their
respective rights, and he shall make all
needful orders, rules, and regulations
Tor paying such persons and for notify
ing such persons TO present their de-
mandS FOR payment. So much money
as is necessary to pay said demands is
hereby appropriated out of any money
in the Treasury not otherwise appro-
priated to be available on and after the
hrst day Of July, nineteen hundred
when such payments shall begin, ana
meme OF said demands shall bear inter-
est after said date, and no deposit shall
be made in said bank after said date
said demands of such persons shall be
certified to by the chief executive of
Hawaii as being genuine and due to
inc persons presenting the same, and
his certificate shall be sealed with the
official seal Of the Territory and coun-
tersigned by its secretary, and shall be
approved by the Secretary of the In
terror, who shall draw his warrant for
the amount due upon the Treasurer Of
the United States, and when the same
are so paid no further liabilities shall
exist in respect of the same against the
governments of the United States or OF
Hawaii
Section 1903. That any money of the
Hawaiian Postal Savings Bank that
shall remain unpaid to the persons en-
titled thereto on the first day of July,
nineteen hundred and one, and any
assets Of said bank shall be turned over
by the government of Hawaii to the
Treasurer of the United States, and The
Secretary Of the Treasury shall cause
an account to be stated as of said date
between such government of Hawaii
and the United States in respect to said
Hawaiian Postal Savings Bank.
Fortunately the act itself read, $50
much money as is necessary to pay said
demands is hereby appropriated out of
any money in the Treasury not other
wise appropriated" 1t is under this