FINANCE, DEFENCE — PRODUCTION, ETC. — SHIPPING, ETC. 641
Finance, Defence. — Revenue is derived mainly from taxation of real and personal property, income and inheritance taxes, licences, land sales and leases, waterworks and road, school and poll taxes. For the year ending June 30, 1920, the receipts and disbursements were to the following amounts : —
Dollars Dollars
Balance June 30, 1919 .... 2,216,909
Receipts, 1919-20 13,902,072
Transfers from other iccounts . . 3,347,023
Expenditures 10,645,694
Transfers to other accounts . . . 5,643,163
19,466,004
16,288,857
Net cash, June 30, 1920 . . 3.177,147
On June 30, 1920, the bonded debt amounted to 10,894,000 dollars. In 1920 the assessed value of property was 287,006,792 dollars, an increase of 36,482,446 dollars over the previous year.
On June 30, 1920, the Hawaiian National Guard contained 3,933 men, and 55 officeis. The Federal Government, wkh a view to the protection of the Pacific Coast and the control of the Panama Canal, has expended money for the construction of extensive military works at Pearl Harbour, about 7 miles from Honolulu, and at Honolulu and other places ou the island of Oahu. The dry dock at Pearl Harbour (Oahu) naval station was officially opened on August 21, 1919.
Production and Commerce. -The islands are to a great extent mountainous and volcanic, but the soil is highly fertile and productive. In 1910 there were 4,320 farms with an acreage of 2.590,600, of which 305,053 acres were improved land. Total value of all farm property in 1910 was 93,363,229 dollars. Sugar and pine-apples are the staple industries, while coffee, honey, hides, sisal, bananas, rice, wool, tobacco, cotton, and rubber are also exported. In 1918 the sugar exported amounted to nearly 600,000 tons. The sugar plantations are extensively supplied with irrigation canals, and this system is coming into general use. The forest reserves in the Territory now number 47, aggregating 817,114 acres, and other reserves are contemplated. At the close of the year there were 904 domestic corporations in operation, with a total capitalization of 192,965,838 dollars.
For the year ended June 30, 1919, the imports amounted to 63,283,647 dollars, and the exports to 104,779,804 dollars. The shipments of merchandise from the United States to Hawaii for the year ending June 30, 1920, amounted to 53,669,174 dollars, and those from Hawaii to the United States to 101,194,733 dollars, of which 78,5S9,467 dollars was for sugar, 18,509,028 dollars for fruits, 521,316, dollars for coffee, and 238,218 dollars for rice. The imports from the United Kingdom in 1920 totalled 80,655 dollars, and the exports to the United kingdom, 928,372 dollars.
Shipping and Communications. — The harbour of Honolulu has
been enlarged and dredged to a depth that will admit the largest steamers afloat. At Hilo Bay, on the east side of Hawaii Island, the construction of a breakwater has now been completed, Hilo l>oingan important place for the
