Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Despatch to London
Seymour, Frederick to Grenville, Richard 3 February 1868, CO 60:32, no. 3373, 33.
Abstract
Despatch to London.
Minutes (2), Enclosures (untranscribed) (1), Other documents (1).
This document contains mentions of Indigenous Peoples. The authors of these documents
often perpetuate a negative perspective of Indigenous Peoples and it is important
to look critically at these mentions. They sometimes use terminology that is now considered
hurtful and offensive. To learn more about modern terminology pertaining to Indigenous
Peoples, Indigenous ways of knowing, and decolonization, please refer to the Glossary of terms.
Seymour forwards a letter from British Columbia’s auditor general, which suggests British Columbia’s sinking funds should be invested in British Columbia’s securities. Seymour discusses the benefits of making this investment and describes the developing financial
security of British Columbia. Cox’s minute describes the ordinance allowing Seymour to invest in British Columbia’s securities and circumstances where British Columbia can invest in the securities of other British colonies. Rogers’s minute indicates the despatch should be sent to the Treasury and recommends following the advice of British Columbia’s auditor general.
No. 4
New Westminster
3rd February 1868
My Lord Duke,
I have the honor to forward a letter from the Auditor General
suggesting that the sinking fund of the British Columbia loans
should be invested in the purchaseof
of our own Securities which
are now selling below par.
of our own Securities which
are now selling below par.
2. Unquestionably profit would be derived from this arrangement
in one way, but it is for your Grace to consider whether, on the
other hand, the Public Credit might not suffer by its being
carried out.
3. The ordinance referred to was forwarded in the late Acting
Governor's despatch No. 21 of the 17th March 1866.
4. Under
4. Under the strenuous efforts, I am now making to remit large
sums to the Colonial Agents, I allow myself to think that the
value of our Public Securities will soon rise. The debt is
perfectly safe. Were every white man to desert the Colony save
a few Public Officers, the amount of duty which could be
collected on Imports for Indian consumption would pay the
Interest and sinking fund.
5. I
5. I however believe that better times are approaching for the
Colony.
Minutes by CO staff
Sir. F. Rogers
Ordinance No 6 referred to was passed to enable the Agents to invest the B. Columbia Sinking Fund in the purchase of Columbia Debentures, but on the condition only that the Debentures were not cancelled—this was done after correspondence with the Ty see to them 21 Oct. 1865 (9854) & their answer 10851—& originated on a suggestion from the Crown Agents—9854.
Ordinance No 6 referred to was passed to enable the Agents to invest the B. Columbia Sinking Fund in the purchase of Columbia Debentures, but on the condition only that the Debentures were not cancelled—this was done after correspondence with the Ty see to them 21 Oct. 1865 (9854) & their answer 10851—& originated on a suggestion from the Crown Agents—9854.
When the Ordinance was
sanctioned it does not appear that any
communication was made to the Agents—but on the 7th
March 67 authority was given to them to make the investments
in the Securities of Ceylon, Mauritius, New South Wales,
& the Cape—see Agents 2309 of 67—this had Ty
sanction—see 11866.
sanctioned it does not appear that any
communication was made to the Agents—but on the 7th
March 67 authority was given to them to make the investments
in the Securities of Ceylon, Mauritius, New South Wales,
& the Cape—see Agents 2309 of 67—this had Ty
sanction—see 11866.
Copy to Treasury for consideration with reference to previous
correspondence—or in the 1st instance ask the Crown Agents?
CC
3/4
Documents enclosed with the main document (not transcribed)
Minute, Robert Ker, Auditor General, to Colonial Secretary, 19
December 1867, making proposal as per despatch.
Other documents included in the file
Rogers to Secretary to the Treasury, 16 April 1868, forwarding
copy of the despatch for consideration.