I have the honor to transmit herewith, a copy of a letter
recently addressed by His Excellency
James Douglas the Governor
of
British Columbia to the Secretary of this Company, from which
it appears that
M Douglas has addressed a letter to your
Grace by which he tenders to the Government the power of purchasing
his retired interest in the
Hudson's Bay Company for a specific sum.
It has occurred to the Board of Directors of this Company
that Her Majesty's Government may consider it
contrarycontrary to their
usual practice to become the purchasers of the interests of a
private individual in any Commercial undertaking and that
therefore
Governor Douglas's proposition would probably not
be received with favour. Under this impression, and with a view of
relieving Her Majesty's Government of an embarrassing question
and testifying how highly the Company appreciate the long and
faithful services of
Governor Douglas and at the same time, of
enabling him to retain the dignity which Her Majesty's Government
had conferred upon him, the Board have determined to make a
special exception in this case, and in the event of Her
Majesty's Government declining the
propositionproposition, to become
themselves the purchasers of
Governor Douglas's retired
interest at the price which he himself has put upon it.
They have accordingly lost no time in communicating to
Governor Douglas this determination, and they trust that its
effect will be to remove all further difficulties with respect
to the definitive acceptance by
M Douglas of the high
office to which he has been nominated.