Colonial Despatches

With reference to my despatch No. 149 of the 12th of November last communicating to you Her Majesty's approval of "The British Columbia Loan Act 1862" I have the honor to instruct you to remit to the Agents General for Crown Colonieswith with the utmost punctuality the funds provided by the 12th clause of the Act for the payment of the half yearly interest on the Loan and for a sinking fund.

I take this opportunity of requesting your attention to the statement in the enclosed letter from the Agents General that your government isindebted indebted to them to the amount of £1080, and of repeating to you the peremptory instructions in my despatch No. 15 of the 14th of March last to keep the Agents duly provided with funds for the execution of the services referred by the Colony in this Country.

After you have hadsufficient sufficient time to receive the despatches on this subject no requisition whatever—however urgent it may be will be attended to unless the money required for its execution is actually in the hands of the Agents General.

With reference to my despatch No. 17 of the 31st of March directingyou you to leave the contemplated further loan of £50,000 to be effected by the Colonial Agents in the money market of this Country, I must appraize you that immediately upon raising the money procured by that operation the Agents General will be instructed to begin by reimbursing themselves in the wholeamount amount due to them which may not have been discharged by any remittances received in the meantime from the Colony and that you will only be able to draw upon them for the balance of the proceeds of the loan. Any Bills exceeding that amount will be refused leaving the consequences to fall upon the ColonialTreasury Treasury. I am in communication with the Lords of the Treasury as to the nature of the securities in which to invest the sinking fund and the selection of trustees for that purpose.