With reference to your letter of the 
27 ultimo,
               on the subject of the investment of the Sinking Fund of
               the 
British Columbia Loan of £100,000, I am directed by
               the 
Lords Commissoners of Her Majesty's Treasury to acquaint
               you, for the information of 
M Secretary Cardwell, that
               Their Lordships see no objection to the course proposed by
               the 
Crown Agents for the Colonies for the investment of the
               Sinking Fund of this Loan, viz to leave it to the
               Trustees of the Sinking Fund to select half-yearly such one
               or more of the Securities mentioned
in
 in 
M Julyan's letter
               of the 
20 of November, as shall appear to them at
               the time being the most desirable to purchase, having regard
               to the Price and the prospects of the several Colonies named.