No. 104
12 December 1860
My Lord Duke
I have the honor to forward herewith, Copies of the following Acts for the Colony of British Columbia, numberd Manuscript image numbered 1 to 4, as under, No. 1. Spuzzum Road Bonds Act 1860.
No 2. Shimilkomeen Road Bonds Act 1860.
No 3. Customs Amendment Act 1860.
No 4. Roads Tolls Act 1860.
The object of the two first Acts was to create British Columbia Treasury Bonds, bearing interest at the rate of Six per cent per annum for the purpose of defraying a Manuscript image a part of the cost of forming the Spuzzum and Shimilkomeen Roads, not exceeding altogether the sum of Ten Thousand Pounds (£10,000), which it was feared could not be conveniently met by the ordinary revenue of the current year. It was therefore provided that a portion of the Bonds only, should be paid this year, and that the remainder of the sum should be made redeemable Manuscript image redeemable by annual payments, commencing with the 1st day of January 1861, and ending on the 1st day of January 1863.
The Treasurer has ample funds in hand to meet the first payment which falls due at the close of the present month, and there can be no reasonable doubt of the ability of the Colony to meet the succeeding payments as they respectively come due.
Notwithstanding Manuscript image Notwithstanding my firm reliance on the increasing trade and financial resources of the Colony, and that I advised Your Grace of my intention in my Despatch marked "Separate" of the 6th of July 1860, I feel that I have exceeded my proper powers and authority in creating, without your previous sanction, a debt of even a temporary nature.
I would however, in explanation remark that it Manuscript image it was only after all other means of raising money for opening the great thoroughfares, which are of indispensable use and necessity in promoting settlement and developing the resources of the country, had signally failed, that I resorted to that expedient.
In consideration of that fact and of the magnitude and importance of the object proposed, I trust the measure will meet with Manuscript image with Your Grace's approval, especially as the "Roads Tolls Act" numbered 4 in the Schedule, imposes a duty of one farthing a pound on all goods carried inland from Douglas, Hope and Yale, for the purpose of raising an additional revenue for the liquidation of the Road Bonds, and for the improvement and formation of other roads in Manuscript image in the Colony: a tax imposed with the approval of the people, and which will be of signal advantage to the country at large.
The "Customs Amendment Act," numbered 3, imposes a fixed rate on certain goods specified in the Act as a substitute for the ad valorem duties previously levied on such goods when imported into British Columbia, and aims only at Manuscript image at the improvement of the Revenue and facilitating its collection.
I have etc.
James Douglas
Minutes by CO staff
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The Acts have been registered.
HTI 19/2/61
Mr Fortescue
Seeing that it was resolved, on a previous despatch from the Governor (28 Augt) which I circulate today with a letter on it from the Treasury, to recommend the policy of raising a loan of £50,000 in England, I suppose that no objection will be taken to the course which the Governor has adopted in the meanwhile of raising £10,000 to meet immediate demands for the construction of roads. As I am sending you today one or two other papers on B. Columbia finance, I forward also the present despatch direct to you, but it must of course be referred afterwards to Sir F. Rogers for the usual consideration of the different Acts which it encloses.
TFE 20 Feb
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Roads are evidently the sine qua non condition of prosperity in B. Columbia—and I think these Road Bond Acts may be recommended to the Treasury.
CF 22
N 24
TFE 25/2
The three first Proclamations (Nos 21, 22, 23) should be then referred to the Treasy and No 23 wh imposes Customs Duties to the Board of Trade also.
No 24 wh imposes a tax of 2s/o for every 50 lb weight of goods carried beyond Douglas in the direction of Lake Lillooet, is a kind of Act wh has been a good deal complained of; and I think it might be prudent to leave it unnoticed for some time (being in operation) in order to see whether objection is made to it in the Colony.
FR 27/2
CF 27
N 28
Documents enclosed with the main document (not transcribed)
Not in file.
Other documents included in the file
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Draft, Elliot to G.A. Hamilton, Treasury, 19 March 1861, forwarding extract of the despatch and proclamations No. 21, 22 and 23, and recommending that they be sanctioned.
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Draft, Elliot to J. Booth, Board of Trade, 19 March 1861, forwarding copy of proclamation No. 23 and asking whether it may be properly allowed.