Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-08-07
AID Club fires Opening GUN FOR lNIFICATIONOF
ACCOUNTING SYSTEMS OF THE TERRITORY OF HAWAII


legation OF caring for the ,rnfortunates
at Molokai and that perhaps We have
unusual expenses for wharves and
landings, roads and other public works
ard for sanitary problems; but the fact
still remains that we are living beyond
our means and without satisfactory re-
suits TO show for the millions expend-
ed. We have nearly reached the limit
of our borrowing capacity and face a
reduction of our revenues.
At the time of. annexation to the
United States in 1898 the bonded debt
Of Hawaii, amounting to some $4,000
600. was liquidated by the Federal gov.
eminent In 1903 we began to issue
more bonds, since which time the
bonded debt has rapidly swelled to
the present total of $6.S44,CG0 in ad-
dition to $1,500,e00 authorized by
the last legislature, of which the trea-
surer of the territory is now seeking
to place $750,00O I'm the eastern mar
ket. The interest in the public debt
now amounts to $275, 900 per annum at
an average of about 4 per cent The
gross revenues of the territory from
1900 to the present year, 1914, as
shown by the Governors reports, to.
tails approximately $43,OO0.OOC, having
increased from $2,l40,000 in the fiscal
year 19o0-1901, 10 over 100000 for
1894 added to this the bonded
debt of say S7,000,000, gives a grand
total of $5O,000,0 expended in con-
Quoting the affairs of this territory in
the past IA years. The Organic Act,
fortunately, fixes a limit to our bonded
debt; that limit is per cent of the as
sessed value, of real and personal prop
erty. Taking the assessed value at
$161, 100000, we have bond limit of
$11, 200. 900; there is not much farther
to go in that direction, only 50 100000
on the basis of present property values.
A small amount certainly, to cover
the important sanitary, commercial
and other requirements of the terri
tory, and to provide for any emergen-
cy.. On the other hand the effect OF
legislation under national democrat
ic administration has been to deal our
industries paralyzing blow and to in
crease taxation. Our public revenues
are in danger of being seriously cur
tailed, the plantation interests which
no longer contribute the same large
pay over 60 per cent of our taxes can
sum as heretofore The state of pub
lie finances is such as to demand
the earnest consideration of our COM
mercial and semspublic bodies. The
Governor of the Territory is fully
alive to the situation and is striving
to cut down expenses and to conduct
a businesslike administration. He
should receive our cordial support.
TIE situation must be squarely met
by our next legislature. / believe
that as soon as possible q comprehen-
sive investigation should be made of
our whole machinery of government,
both territorial and county, to deter
mine II its expenses can be brought
within its revenues, as well as to Sc
cure a better system of accounting
II this is not done, and speadily at
that, feel convinced that the respon-
sible element of the community will
change, and while. regretting the ne
cessity of curtailing our privileges of
representative government, will well
come the commission form as the only.
alternative. The candidates for office
at the coming local election must real
ize that the days Of folly, waste and
political corruption in Hawaii are
about at an end, and unless they ac-
cept Office as a public trust with an
earnest desire to serve the public well
fare in this emergency, the whole sys-
tenn will crumble and fall upon them
of its own weight A larger caliber
class of officials is needed more than;
ever