Re: Statehood Day Holiday
Just asking, where did "government funds" (especially big money) come from in the 1880s if not the sale of land?
Lets see, if inflation is 4% on average, rule of 72 says 18 years to double. Palace built about 126 years ago so it would have doubled 7 times.
If I do that math, then the cost of constrution of Iolani Palace in todays dollars is 42,720,000.
That does seem a bit excessive to me, no?
Anyway, my point is "government funds" came from somewhere and the big money seemed to have come from the sale of lands. I know much of that happened at the time of the Mahele and this was 30 years later but I don't see 42 million for "extra" projects coming from "taxes". I have no evidence, just my hunch as I think outloud.
Originally posted by anapuni808
Lets see, if inflation is 4% on average, rule of 72 says 18 years to double. Palace built about 126 years ago so it would have doubled 7 times.
If I do that math, then the cost of constrution of Iolani Palace in todays dollars is 42,720,000.
That does seem a bit excessive to me, no?
Anyway, my point is "government funds" came from somewhere and the big money seemed to have come from the sale of lands. I know much of that happened at the time of the Mahele and this was 30 years later but I don't see 42 million for "extra" projects coming from "taxes". I have no evidence, just my hunch as I think outloud.
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