Colonial Despatches

I have had the honor to receive Your despatch No. 91 of 16th November, forwarding copies of a Correspondence between the Colonial Office, and Board of Treasury, and the Agents General on the subject of theinvestment investment of monies accruing to the Sinking Funds of the several Loans authorized under the Ordinances named in the Margin.

2. There can be no doubt that it was the intention of the Legislature to empower the Trustees to repurchase the Debentures of this Colony out of the money to be annually applied to the formation of the Sinking Funds, allowing the Debentures so purchased to remain bearing interest in the hands of the Trustees of the Loan.

3. As however Clause 12, inthe the Ordinance of 1864 clearly admitted of a different interpretation I considered it advisable as the Legislature is still in Session, to remove all doubt by introducing a further enactment, and I have now the honor to transmit an authenticated and two plain copies of an Ordinance entitled: No. 6 An Ordinance regulating the investment of Sinking Funds of Public Loans. I add the report of the Attorney General.