Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1904-02-25

Treasurer Kepoikai He wished to
say that there was no personal differ
ence whatever. SO far as that phase
of the subject was concerned, he had
always been on the very best of term |
with the Treasurer. However. he be-
lieved that the public would be the
first to condemn him II he trusted q !
man twice who had gone back on his |
word the first time.
Continuing. he said that the great
difficulty he experienced was In getting
a. the finances of the Territory and in
finding out just where the government
stood.
Mr.. Lowrey remarked that IL the flg-
ures of the Treasurer and Auditor
agreed, as they had from the showing
made, he believed that these figures
would show where the government
was.
1t was shown by Auditor Fisher that
the legislature had appropriated mil
lion dollars more than the receipts OF
the government would be. The greater
part OF this could be saved by not
spending the money.
Mr. Kepoikai stated that from now
until July /, there would be about
100000 a month coming into tho
treasury, This would make 100000.
The Governor asked II the borrow
,ing Of 100000 on an overdraft would
tide the government over and Mr.. Ke-
poikai replied that 1t would SO far as
the salary warrants were concerned
but II would not relieve the situation
so far as bill. or expense, warrants
were concerned. .-
The Governor expressed 1t as his
opinion that he did not believe borrow.
ing now would do very much good. 1t
would simply be putting of the day.
for the government would have to bor-
row again and would then probably
exceed the limit.
Mr.. Kepoikai said that the govern.
ment was empowered to borrow $780,
1000. or this amount only $4,000
lcould be borrowed on treasury notes
land as the bulk Of the taxes were not
due until November and these notes
could only be issued for seven months,
II was impossible to secure this addi-
tional sum until April 20. BY No
, yember 20, the bulk ofrthe taxes would
, be in and the note could be paid.
! kepoikai's Suggestion.
ii The Governor then asked the Treas
| urer what he would suggest and the
latter replied that he would recon-.
! mend the borrowing Of $4,000 now.
!, Mr.. Lowrey stated that one reason
! why the banks would not discount the
} warrants was because there was nc
} definite date as to when these war
/. rants would be paid. This matter had
been cleared up by Mr.. Kepoikai, who
5 had Just stated that there would be a
3 large amount Of money coming in dur
!. ing November and that the debts OF
) the Government could be paid at tina,
II time.
!. Paid In November.
. Mr.. Kepoikai replied that no due
!. date, according to law, could be placed
} on the Treasury warrants. However
, they would all be paid In November
! Mr.. Lowrey said that then the due
' date was November. II this was clear
3 ed up. the difficulty would be solved
Inc Governor stated that was
very unfortunate the Legislature nae
, made appropriations without provid
ing the money with which 10 mee'
them. however, SO iar as the mer
enants were concerned ne peheVet
the soiution was up 10 the Legislature
It was not an executive junction.
Mr.. Spalding said that, notwith
standing all that had been said. there
was a serious nnanciai CONDITION fac
ing the public'
spa'd'nss Ideas.
Governor Carter asked as 70 thi'
: serious nhanciai condition, ana Mr
spaldihs made answer tnat tne genera
'oiuine oi business naa aecreased' 'ha'
: securities nad shruhk' Una, money wa'
D not available as was required 10 mee'
e the requirements OF the community
: ana that the position OF the Govern
D ment was adding 10 the nara tunes aho
0anarQI nnnrnCCad Gitnafinn