1. I have the honor of transmitting herewith copy of a
               letter lately addressed to me by the Agents of the Hudson's
               Bay Company
residing
 residing at this place—setting forth the claims
               of the Company to certain tracts of land connected with their
               several Trading Establishments in 
British Columbia; which
               they may have occupied for many years and improved by
               settlement and otherwise at much
               expense.
               
               
               2. Her Majesty's Government may probably consider, that
               the 
Hudson's Bay Company have acquired rights to the soil,
               through permissory occupation and improvement, as well as by
               the public services which the
Company
 Company have rendered to the
               Country, and may therefore meet their claims in a spirit
               of judicious liberality, especially as the settlement of
               the Company's possessory rights in 
Oregon, resting on the
               construction of the third article of the Treaty of the 
17
                  July 1846 with the United States of
               America,
               
               will probably
               be influenced by the decision of Her Majesty's Government
               in allowing or disallowing the possessory rights of the
               Company in 
British Columbia.