The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1909-02-18
100000
100000
100000
100000

nen to Sinking Fund road pur-
poses and land Improvements. 100000
Land Sales Public Works Depart
Sinking Fund $4,000
Expenses Legislature, 1911. 100000
Act 10Y, s. l. Ioo7-carred over. I0oI2Io 175S85.24
Leaves available for territorial
appropriations .............. s3,3s154S45
This will be reduced by $51 for million of
SIS, 81 per public improvement etunding bonds that
may be issued we'll by further appropriations will prob
ably be made by the Legislature Of 1911
srr. TIE or ExprNnrrprs This for both and loan
PERIOD funds, will be submitted in a
separate statement
FORM OF AppRo recommend that instead of having saa
pRIATIoN BILL res and expenses respectively appropriated
for in separate bills there be but one bill COW
ering both classes of expenditures This the elsewhere
and has the advantage of presenting in place all the
pehdures authorized for any branch of the public
recommend also that instead of incorporating each appro
paon bill the usual sections prescribing limitations upon
pendres of appropriations separate bill of permanent
tue be enacted upon this subject the provisions of which should
be carefully prepared which long
enacted with each appropriation bill do not meet all requirements
porns AMI bonded indebtedness reduced by
loan FIND the payment of all outstanding per cent bonds
amounting to $4,000, and increased by S2o4,ooo
of 81 per bonds issued for public improvements, making
the present bonded Indebtedness $3o5oo with balance of
s4,757os in the sinking fund December 81, 1908
At the beginning of the period June the cash balance
standing warrants the of S44423 which cash bal
there added during the year by the sale of bonds
sass5oI making total Of s5sz5aso3 Of which s3oa9ozss
expended to December 81 1908 leaving at that date
cash balance of against which there outstanding
the of $500 The balance will practically
all be required before the end of the period appropriations
already made.
On May 1908 $4,000 of per cep bonds and October
1908 of AZ per bonds became redeeabe,
and January 1910 additional of "a per
bonds will become edeenab1e Probably will be best pay
the of bonds of the sinking fund accumulates,
but the 100000 of AZ and AZ per cent bonds should be
funded lower of interest If this should be done in
whole part before the end of the PERIOD the large
qured be aside sinking fund under the of the last
legislature should be borne in mind making appropriations
bill is pending in Congress permit greater latitude
the times of redemption and payment of bonds that these
be made SUCH within reasonable limits make possible to
sell them best In contemplation
funding should be or perhaps BETTER should
peaed and act passed.
r,ns recommend that be passed
ing the special funds for fire claims, postal
money orders and gold and silver certificates of deposit respective
y into funds and appropratng the for the
ymen of claims when presented This be done by
similar to that of 1903 in regard to the Chinese fund.
rrposms or recommend legislation for the authorize
covEpNnrrNr ton of this under proper limitations
r1ns paNx der avoid the withdrawal of large
of money from circulation times and Incl
dentay the by the of which
may be received such deposits.
rr.prnc r,o,,er The financial crisis of little than
year ago. which fortunately did seriously
affect this Territory, suggests the need of
legislation permit the issuance of clearing house certificates
Perhaps will be sufficient order accomplish this purpose
to repeal Section 3oIS of the Revised Laws.
OFFICIAL poNns In view of the meager provisions of the
statutes defining the duties of public officers
and employees and the decision of the Supreme Court Terri
providing for bonds of public officers employees
amended all cases.
TAXATION