The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1900-04-04
DamoI's Talk on Fina n -e.

II think Mr.. Gear was perfectly right
when he said we must deal with actual
facts. | have noticed in my business of
banking, where We watch the ebb and
flow of business. that we have been
passing through a very critical time
in the past few months. Money has
been in great demand. But the coun-
try is a rich country and the people all
the way drought might say OF all
classes-are well of. That is, we have
a very few of what are called poor peo-
pie. They have their funds in the
banks, the savings banks, and they
nave been able to meet this stringency
far better than | anticipated. In the
matter of loans made a year ago they
are very gradually meeting them.
think we have turned the corner and
are on a new and better basis than we
were year ago. l still feel, however.
with the very best of feelings toward
the Council, that We are not prepared
to go ahead as fast as We did year
ago. ] think they have grown more
cautious because they have been In a
very tight pinch, Mr.. President, but
there has been no panic here such as
other cities. Now, having passed
through that tight pinch, they are GO
ing to be more careful in the future.
When we make these estimates, we
are TO a certain extent responsible to
the treasury. The people look at the
Treasury Department and ii has a re-
assuring effect on the community when
they find there Is a reserve there. Not
Only Is this true IN this country but in
ali countries. 1t as my duty to put this
matter before you, Mr.. President. and
to the Council of State with caution.
I'VE are placed in this position:
These bills have 20 go to President Nc
Kinley for his approval. That is a Sc
rious matter. If we go TO him with a
cries of bills ahead of our estimates.
he will likely ask why we did so. We
would say. We'll, we are prosperous.
and are going TO be more prosperous.
but il will take some argument to con-
vince him that our policy is right. Up
20 the present time this community.
believe, stands well with the authori-
ties at Washington. Certainly every
thing we have asked for up to the pres
ent time has been granted. They see.
think. that we are dealing fairly and
honestly with the President, and they
are pOUSlDlt lot the gl al
fairs in Hawaii today. They don't
want to make any mistakes. We don't
realize. perhaps, what IL means TO
President Mckinley to have IL a sue
cess. 1T means thousands Of votes to
him.
The anti-expansionists are jumping
at chances to hurt us. | know we are
little by little gaining in favor with
the Washington authorities, and are
becoming interested in their work
there. While IL may not be a serious
argument, still we are interested in
the welfare OF the President and his
party, and We do not want to appear
to do anything to injure him who has
done so much for this country"
Jones stated he agreed largely with
Mr.. Gear, but he hardly felt he could
vote for 100000. Three months have
passed since the first OF the year, and
he thought that before the appropria-
ton would be available two months
more will pass, so that in reality a
half-year would have passed before the
appropriation was made use OF. Jones
moved. as a compromise, to insert the
item at $685., 529.50.
Gear moved that the item pass at
1921, 900, as recommended by the COM
mittee.
Young: II don't want to be misun-
derstood in this matter. / want every
dollar that / can get for my Depart
ment for use in Honolulu. know