The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1903-10-24
y respectfully,
THOS. RYAN,
Acting Secretary.
Department of the Interior,
Washington September 9. 1903.

w dSnlnSIOn september y, 1910
The President.
Sir: On the 30th of June 1908, the
Governor of Hawaii advised this De-
partment that on the 25th of April,
1903 he had approved an Act of the
Territorial Legislature to provide for
public loans such an act having been
passed pursuant to authority contained
in Section So of the Act of Congress
approved April 80, 1900 (31 Stat, 14D,
ITO provide a government for the Ter
ritory of Hawaii" under which the
Legislature may authorize loans by the
Territory for certain purposes and un-
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:
CThen follows the section in question)
The Governor in his letter above re-
ferred to, further states: The amount
which can be borrowed under the loan
act for the first year of the coming
biennial period, as limited by Section
90 of the Organic Act, to one per CEN
tum upon the assessed value of taxable
property of the Territory is $123O,OOO
THE Presidents approval is desired
for bonds of such amount. We are
arranging for the preparation of these
bonds and in relation thereto, l desire
your instructions as to the form of
the Presidents approval. viii he APP
prove in one act the above amount
which we desire to borrow for the
/
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 "ap-
proved" and the words President of
the United States" engraved above
and below such space.
LAS time is important to the Terri
tory in this matter may l ask you to
telegraph your decision.
THE wording of the letter may make
me appear to have taken the Presi-
dents approval of such loan for grant
ed, but l assure you that l do not en-
terrain any such sentiment"
Replying to this communication the
Department by cable under date of
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 3d. 1903 to July /,
1904 of $1,229, 10S.03. The amount above
stated represents the limit of indebt-
edness which, under section 55 of the
Organic Act may be authorized to be
incurred by the Territorial Legislature
for the present year.
1t will be observed that the Governor
states that a large part of the loan APP
| priations are on account of public inn
provements for the benefit of the coun-
| ty governments which will go into OPP
GRAFTON in January 1904.
From the papers presented by the
Governor and herewith transmitted,
am not aware of any reason why eX-
ecutive approval of the loan in the sum
above mentioned should be withheld
Very respectfully,
Il. A. HITCHCOCK,
Secretary, r. r.
oyster Bay, Sept, 21 1908.
The incuwence of Indebtedness under
the Hawaiian Territorial Loan Act foI