Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-05-09
CONSTRUCTIVE SUGGESTIONS MADE
IN REPORT OF II. GOOD|NG FIELD

II VI ~
overdrafts and Registered Warrants.
Due TO the failure OF the present
accounting system Of the county OF
Hawaii to definitely record the cash
requirements Of the county, overdraft
or registered warrants are Of frequent
occurrence Apart from the fact that
registration OF warrants necessitates
the payment OF FIVE per cent interest
70 the banks cashing them, which
the county has to bear,--and this
comparatively low rate of interest is
held up as q panacea for slack BUSH
ness methods such borrowings lead
to unchecked extravaganza No bet
ter illustration can be had than the.
following:
The County Treasurer's statement
TO the Board Of Supervisors, dated
February 18th, 1914, showed that the
general and road funds warrant ac-
count stood as under at that date:
General fund warrants regis
tered .....s...... $30, 547.07
Road fund warrants regis
Total amount Of registered
= Il
(The above warrants carry a i've
per cent interest chargel.
At the meeting OF the Board of Sup.
ervisors, March 5. 1914. the following
demands were authorized to be paid
without funds in hand). and were
certified to BY the County Clerk
General Fund SIS, 1928
Road Fund 14,452.35 $32.S24.s5
0verdraft, as Of February %.
1914 .a... ...... ia ,824.95.
The anticipated revenue to meet the
above oyerdraft Of $74,S24.95 1.-THE re.
suit Of two months business transac-
tons OF the county since the COM
|mencement Of the 1914 fiscal period
together with the future authoriza-
tons to be made at the board meet
ingR of April, May and June. 1914,
and ct the present rate of piling up
Indebtedness. taken In connection
with the discOuraging outlook for.
revenue receipts for 1914, II is self.
evident that financial disaster is
spelled in unmistakable terms The
emptiness OF the country treasury
might well be deplored.
Inc question: Woul0 NATURALLY 9aiiosis
why should the county of Hawaii
or, as q matter of fact, any OF the
counties Of the TERRITORY place itself
I'm the position Of being so heavy q
borrower. instead Of conserving the.
funds for current maintenance, so as
to enable the county TO be . self.
supporting concern: "self-supporting,
In this sense being used as opposed.
to the principle Of constant borrow.
ling.
A government should be just a.
careful Of ite credit as q private in-8
diyidual. and one Of the surest means
Of enjoying good credit Il to be.
prompt in payments.s II must be said
that those charged with the care Of
the county's credit have not appreci.l
ated this fundamental principle.
The lavish expenditure IN the past
gether with ineinciency Of govern
ment, can De attrlDutaDie, 70 Two
causes
unprecentea husn Times IN tne
past ana
S.Izen eOieIance u colu - J,
usIllaluins .ln1ne ac.loM 49, ..
1870 ssns ~ puD'io s
s1r ~ q LIZ - 49,,
-. 49,, t,Ia,
80 80 = y, sIl.r.,s st-asts ~ = vS,,a
ar, thas ashev havs , lost isiyht 81
the fact thar had roads are not neces.
sarv and that good roads are paid for
by them and should be provided.
with q reduction for 1914 OF from
So to 40 per cent In the assessed
valuation Of taxable property in the
territory under, that Of 1913, and with
governmental expenses piling up, de-
spite all warnings, no intelligent citi-
zen can deny that the outlook for
the future demands most rigid 20.
Icy Of retrenchment
inacequate Financial hepcrts.
The conclusion 20 De drawn from |
the annual ano only financial state |
ment which = now required 10 pc SUD
nlttea oy tne county audlIof 70 the
territoriai alalor, ana Wnlcn. 70 |
getner with sleilar statements rom ,
the other county AUDITORS IN the Ter
rlfory, form the OASIS OF the terrific
rial auditor annual Statement OF
n Ii - q ~