Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1908-12-26

the Judges OF the circuit courts, IOul
thousand dollars each; the United
States district judge, seven thousand
dollars: the United States marshal.
three thousand dollars; the United
States district attorney, three thou
sand dollars. And the governor shat
receive annually, in addition 10 his
salary, the sum of one thousand dol
lars for stationery, postage, and incl
dentals; also his travelling expenses
while absent from the capital on OFF,
cial business, and the sum of two
thousand dollars annually for his pri-
,ate secretary.
| 1.-The following section is to be
added to section 100 of said Act:
IAN records relating to naturali-
cation, all declarations of intention
to become citizens of the United
States, and all certificates of natur-
alization filed, recorded. or issued
prior to June 29th. 1906. in or from
any circuit court of the Territory
of Hawaii shall for all purposes be
deemed to he G.i - have been made,
filed, recorded or issued by court
with jurisdiction to naturalize aliens,
but shall not be by this Act further
validated or legaiized.
| 80 Section 10 of the Organic Act
providing for high sheriff and dep
uties and defining their duties Is to
be repealed. "
Regarding the amendment limiting
the amount of Indebtedness that the
| Territories or counties may contract,
Treasurer Campbell says: MAUI
county wanted to issue bonds for pub
lie improvements. The authority OF.
the Legislature was secured and all
other authority required, and then
the Supreme Court said the bonds
'could not be issued under the Organic
tAct because the county did not have
the power of taxation. This amend
ment removes that difficulty and
whether the county has the taxing
power or not, so long as the require.
ments of the Legislature are com.
piled with.
! Another thing, under the Organic
Act as 1t stands. bonds can only be
payable in fifteen years. This'makes
a short-term bond not easily noated.
The amendment simply provides that
bonds cannot be issued for a longer
time than thirty years. This will
enable the issuance of a form of
bond that has become very popular
In the East. This is called the one
twenty bond, or the one-thirty bond.
That is, If it is 2o-y ear bond, one
twentieth of each bond is payable ev-
cry year. This does away with the
necessity of sinking fund. II it Is
a 30-year bond, one-thirtieth of each
bond is made payable each year. We
won't have to issue bonds of this
kind under this amendment, but we
can IL we want to.
Still another thing to be Secured
by the amendment is to give the Ter
ritory the power to refund is bonded
Indebtedness at a lower rate of inter-
est. The Organic Act as 1t now
stands gives the Territory the right
to refund existing Indebtedness.
That has been construed by some
lawyers to mean Indebtedness exist.
ing at the time of the organization
of the Territory. We have refunded
some of that Indebtedness already.
| NJ 10 hnt
fund. There is, however, a consid.
cradle amount of four and half per
: cent. bonds that can be refunded at
q lower rate of interest this year IL
this amendment is adopted, and we
can save ten thousand dollars in in
terest year. The section SO as
amended in this particular as pro-
posed will read as follows:
But the total of such indebted
ness incurred In any one year by the
Territory or any such subdivision
shall not exceed one per centum of
the value OF the property In the Ter
ritory or subdivision respectively as
|shown by the then last general assess
ment for taxation, whether such as
sessment is made by the Territory or
the subdivision, and the total in
debtedness of the Territory and of
any such subdivision shall not at any
time be extended beyond seven per
ieentam and three'per centum respee-
lively OF such assessed Values. hut
nothing in this Act shall prevent the
refunding Of any Indebtedness at any
time; nor shall any such loan be
made upon the credit OF the public
domain or any part thereof, nor shall
any bind or other instrument of any
such Indebtedness be issued unless
made payable In not more than thir-
IY Yaars fr0m thu date of the isena