The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-10-24
Department of the Interior,

Department OF the Interior,
Washington. Sept. 8, 1903.
The President.
Sir: On the S0th of June, 1908, the
Governor of Hawaii advised this De-
partment that on the 18th of April
1903, he had approved an Act of the
Territorial Legislature to provide for
public loans, such act having been
passed pursuant to authority contained
in Section 55 of the Act of Congress
approved April 80. 1900 (31 Stat, 14D,
ITO provide government for the Ter
ritory of Hawaii" under which the
Legislature may authorize loans by the
Territory for certain purposes and I'M
der certain conditions, one of which is
that no such bond or indebtedness shall
be incurred until approved by the
President of the United States.
The section in question, in extenso,
is as follows, to wit:
(Then follows the section in question:
The Governor in his letter above re-
ferred to, further states: 1.-THE amount
which can be borrowed under the loan
act for the first year of the coming
biennial period, as limited by Section
55 of the Organic Act, to one per centum
upon the assessed value of taxable
property of the Territory is 1920, 600.
1.-THE Presidents approval is desired
for bonds of such amount. We are
arranging for the preparation of these
bonds and in relation thereto, I desire
your instructions as to the form of
the Presidents approval. Will he APP
prove in one act of the above amount
which we desire to borrow for the
coming year, or will he approve of each
bond by endorsing his approval of the
same? In case the latter course is
decided on it will be convenient in the
preparation of the bonds to provide a
space therefor with the word ZAP
proved" and the words President of
the United States" engraved above
and below such space.
CAS- time is important to the Terri
tory in this matter, may I ask you to
telegraph your decision.
1.-The wording of the letter may make
me appear to have taken the Presi-
dent's approval of such loan for grant
ed, but I assure you that 1 do not en-
terrain any such sentiment
Replying to this communication the
Department by cable under date of
July "a, advised the Governor that:
1.-The requirements of Organic Act
will be complied with when President
approves mourning bonded indebted
ness Endorsement his approval each
bond unnecessary. In submitting mat
ter for Presidents approval, detailed
statement, financial condition Territory
necessary for loan and other pertinent
information necessary to determine
question should be supplied"
There has recently been received from
the Governor of Hawaii the enclosed
letter dated August is. 1908, and accom-
panying enclosures, the latter being ev-
licences as to the financial condition,
etc, of the Territory in which formal
request is preferred for your approval
of the incurrence of Indebtedness under
the Territorial Loan Act for the pres
ent year, from June 80. 1903, to July 1,
1904, of 81, 229. lvS.03. The amount above
stated represents the limit of indebt-
edness which, under section So of the
Organic Act may be authorized to be
incurred by the Territorial Legislature
for the present year.
It will be observed that the Governor
states that la~ce part of the loan ap-
priations are en- account of public inn
provements for the benefit of the coun-