Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Despatch to London
Douglas, James to Pelham-Clinton, Henry Pelham Fiennes 7 August 1861, CO 60:10, no. 8723, 327.
Abstract
Despatch to London.
Minutes (2), Other documents (1).
Douglas acknowledges Newcastle's despatch no. 68, dated 1 March 1861,
that explained that British Columbia could not be granted permission to raise a loan of £50,000 until
Douglas provided a more complete summary of the colony's financial situation. Rather than
provide the information,
Douglas argues that he has already done so, and informs the Colonial Office that he is
proceeding with arrangements to pass the necessary legislation to raise the loan.
No. 45, Financial
7 August 1861
I have the honour to acknowledge the receipt of Your Grace's
Despatch No 68 of the 1st of March last, enclosing the Copyof
of a correspondence with the Board of Treasury on the subject of
the application contained in my Despatch No. 84 of the 28th
of August 1860, for permission to raise a Loan of Fifty Thousand
Pounds (£50,000) to be applied to the construction of Roads in British Columbia; a measure which I observe with gratitude has met with
Your Grace's warm support, and I have to express the deepest
regret that the financial statements, without whichthe
the Loan could not be effected in England, should, from unavoidable
circumstances, have been delayed in their transmission.
of a correspondence with the Board of Treasury on the subject of
the application contained in my Despatch No. 84 of the 28th
of August 1860, for permission to raise a Loan of Fifty Thousand
Pounds (£50,000) to be applied to the construction of Roads in British Columbia; a measure which I observe with gratitude has met with
Your Grace's warm support, and I have to express the deepest
regret that the financial statements, without whichthe
the Loan could not be effected in England, should, from unavoidable
circumstances, have been delayed in their transmission.
2. The information sought by Your Grace having however,
been communicated in my Despatches No. 7 of the 26th of
January 1861, and No 12 of the 7th of February 1861, shewing
from the actual accounts that the local revenue is fully able to
meet the charge for theLoan,
Loan, together with all other legitimate
Colonial charges; and the accounts required by the Lords
Commissoners of the Treasury having been forwarded to the
Board of Audit by the last Mail, I take advantage of Your Grace's
permission to renew, under those circumstances, my application
on the subject, trusting that their Lordships sanction will not
now be withheld, especially as Her Majesty's Government, so fully
appreciate theimportance
importance of opening up the internal communications
of the Colony, and seeing that its financial position, which the
formation of Roads will materially tend to improve, offers the
most perfect security for the payment of the interest, and of
the Loan itself, at the period fixed for its redemption.
Loan, together with all other legitimate
Colonial charges; and the accounts required by the Lords
Commissoners of the Treasury having been forwarded to the
Board of Audit by the last Mail, I take advantage of Your Grace's
permission to renew, under those circumstances, my application
on the subject, trusting that their Lordships sanction will not
now be withheld, especially as Her Majesty's Government, so fully
appreciate theimportance
importance of opening up the internal communications
of the Colony, and seeing that its financial position, which the
formation of Roads will materially tend to improve, offers the
most perfect security for the payment of the interest, and of
the Loan itself, at the period fixed for its redemption.
3. In the correspondence with the Board of Treasury transmitted
with the Despatchfrom
from Your Grace to which I am now replying, I
observe that their Lordships suggest the passing of an Act providing
for the raising of the money required, on the security of part or
the whole of the revenue of the Colony. I have issued instructions
to the Attorney General to prepare an Act for that purpose, and he
has informed me that he will be ready to submit one in the course
of a fortnight, when it willbe
be transmitted for Her Majesty's approval.
from Your Grace to which I am now replying, I
observe that their Lordships suggest the passing of an Act providing
for the raising of the money required, on the security of part or
the whole of the revenue of the Colony. I have issued instructions
to the Attorney General to prepare an Act for that purpose, and he
has informed me that he will be ready to submit one in the course
of a fortnight, when it willbe
be transmitted for Her Majesty's approval.
4. In the meantime to prevent delay, I beg to inform Your
Grace that the Act will authorise a Loan of Fifty Thousand Pounds
(£50,000), bearing interest at Six per cent per annum, payable in England
half yearly, by means of Coupons, and redeemable, half in 1872 and
half in 1882. As I feel satisfied that the Colony will be in a
position to meet the wholeliability
liability at any time after the close
of the year 1862, I would have fixed that period for the payment
of the whole Loan, but I believe, in that shape, it would probably
be less acceptable to the public.
liability at any time after the close
of the year 1862, I would have fixed that period for the payment
of the whole Loan, but I believe, in that shape, it would probably
be less acceptable to the public.
Minutes by CO staff
Sir F. Rogers
Now revive this subject of a Loan by sending copy of this desph to the Treasury, & with it, a copy also of the Govrs desph No 7 of /61 which the T-y seem not yet to have recd.
Now revive this subject of a Loan by sending copy of this desph to the Treasury, & with it, a copy also of the Govrs desph No 7 of /61 which the T-y seem not yet to have recd.
Other documents included in the file
Draft, Elliot to G.A. Hamilton, Treasury, 12 October 1861, forwarding copy of the despatch for consideration.