Julyan to Rogers (Permanent Under-Secretary)
Offices of the Crown Agents for the Colonies
Spring Gardens, London, S.W.
26th December 1866
Adverting to Mr Sargeaunt's letter of the 16th October last I have to acquaint you, for the information of the Earl of Carnarvon, that the Crown Agents for the Colonies will require on or before the 31st instant the sum of Six thousand two hundred and fifty pounds (£6,250) to meet payments which will become due on the 1st proximo for six months interest and contribution to the Sinking Funds in respect of British Columbia Government Debentures viz: InterestManuscript image Interest on £50,000 Debentures Expiring 1873....£1,500
Sinking Fund on ditto...........................£2,250
Interest on £50,000 Debentures Expiring 1883....£1,500
Sinking Fund on ditto...........................£1,000
The Crown Agents will be obliged by your informing them, without delay, from what source they are to receive funds to defray the above liabilities.
I have the honor to be,
Your most obedient Servant
P.G. Julyan
Minutes by CO staff
Manuscript image
Sir F. Rogers
This is another application for funds (£6250) to meet payments becoming due on account of the B. Columbian loans. On the late occasion in Octr last the Agents advanced the Money from funds in their hands belonging to other Colonies, & there wd seem to be no alternative but to adopt a similar course in the present instance. See 9847 and the drafts annexed to it.
VJ 27 Decr
What necessity is there for paying money to the Sinking Fund?
FR 27/12
Sir F. Rogers
I have put the question to Mr Julyan and he says that the payment on account of the Sinking Fund might be postponed till remittances are received from the Colony—provided the Interest that would otherwise accrue to the Sinking Fund were paid in addition. Payments to the fund & all interest arising from it must under the Ordinance be invested.
VJ 27
Manuscript image
Lord Carnarvon
I see great reason why the Treasury should authorize advances from money in Mr Julyan's hands to save the Colony of B.C. from the discredit of bankruptcy: even though it is by their own mismanagement that this has become necessary.
But I see no reason why principal or interest of Sinking Fund shd be advanced from any other funds than those properly applicable to that purpose.
I wd therefore authorize payment of the two sums of £1500 Interest (due I presume to private individuals & Banks) and no more.
Inform the Govr requesting that the full amount overpaid by the Agents or remaining due to theManuscript image Sinking Fund may at once be forwarded, with such further amounts as may enable the Cr. A. to meet the engagements of the Colony.
Add that Ld C. need hardly repeat the expression of his extreme dissatisfaction at the mode of management wh had led to these results.
FR 27/12
C 28 Dec
Other documents included in the file
Manuscript image
Rogers to Crown Agents, 29 December 1866, authorizing payment of interest on debentures and postponement of payments on account of sinking fund.
Manuscript image
Draft reply, Carnarvon to Officer Administering the Government, No. 1, 1 January 1867.
Manuscript image
Elliot to G.A Hamilton, Treasury, 12 January 1867, forwarding correspondence on the subject of colonial finances.
Minutes by CO staff
Manuscript image
Submitted for considn. As the last case was brought under the notice of the Treasy perhaps these papers shod go to them for inforn?
FWF 12/1
Mr Elliot
Mr Fuller's suggestion seems, to me, quite right. We ought to keep the T-y informed.
ABd 12 Jany