No. 28
1st June 1865
I have the honor to transmit to you a copy of a letter from the Crown Agents containing a statement of the Debentures sold under the Ordinance No. 7 of 1864 amounting to £27,650.2.6 and of the Services to which this amount has been appropriated.
You will also observe that the sum due to the ImperialTreasuryManuscript image Treasury on account of the Barracks erected for the Royal Engineers, as well as advances made and liabilities incurred on behalf of the Colonial Government still remain unpaid, and it appears from a further letter from the Agents that bills to the extent of £29,000, (of which I have at present received no advice from you) drawn upon them by the Colonial Treasurer have been presented for their acceptance. I have authorized the payment of these Bills should the Agents consider it clear that the securities in their hands will enable them to meet them when due, butIManuscript image I must at the same time remind you that the proceeds of the Loan form the only source from which these Bills can be paid, and against which any future Bills which may arrive from the Colony can be drawn, and that unless the amount of these Bills is very carefully limited or money remitted from the Colony, the Agents may find themselves forced to dispose of the Debentures at a sacrifice or even to refuse to accept the Bills.
I have the honor to be
Your most obedient humble servant
Edward Cardwell
Other documents included in the file
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Copy, Sargeaunt to Elliot, 24 May 1865, concerning British Columbia's debts to the Treasury.
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British Columbia, Ordinance No. 7 of 1864, "An Ordinance to Authorise a Loan of £100,000.