Northcote to Merivale (Permanent Under-Secretary)
Treasury Chambers
23 April 1859
With reference to your Letter of the 21st Ultimo and to the previous correspondence which has passed on the subject of the grant of a Charter to the Bank of British Columbia, I am commanded by the Lords Commissioners of Her Majesty's Treasury to acquaint you that My Lords find on communicating with the Counsel of thisManuscript imagethis Board that they had overrated the importance of the clause which provided for the notification to the Queen by Warrant of Their Lordships of any breach of the Covenants of the Charter with a view to it's revocation.
Mr Bellenden states that "the words are not essential; that they had been introduced in some recent Charters as it appears convenient that there should be some responsible body on whose suggestion the Crown should act; and the Commissoners of the Treasury were selectedManuscript imageselected seeing that all the other matters relating to the Charter were referred to the Treasury."
Their Lordships are glad to find that, in acceding to the proposal of Sir E. Bulwer Lytton for the omission of the words in question the difficulties which they apprehended are not likely to occur. At the same time, they wish it to be understood that, in deferring to his wishes in the matter, they do not abandon any of the powers which this Board may be called upon to exercise selectedManuscript imagein case of any circumstances arising to require the revocation of the Charter.
My Lords have forwarded the Draft as amended to the Board of Trade and have recommended that Her Majesty be advised to direct the issue of letters Patent under the Great Seal in conformity therewith.
I remain etc.
Stafford H. Northcote
Minutes by CO staff
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ABd 25 April
Mr Elliot
This is a satisfactory termination of the controversy.
I annex a dft to express satisfaction to the Treasury.
WS 25 Apl
TFE 26/4
C Apl 27
Other documents included in the file
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Draft, Colonial Office to Northcote, 20 April 1859, acknowledging receipt of letter.