Colonial Despatches

I have the honor to acknowledge the receipt of your Despatch No. 110 of the 1st September 1868, enclosing a Memorandum from the then Acting Colonial Secretary suggesting a mode in which remittances to the Agents General on account of the Interest and Sinking Funds of the British Columbia and Vancouver IslandLoans Loans might in his opinion be most conveniently made.

The Lords of the Admiralty to whom your Despatch was referred have expressed their regret that they are not able to comply with that suggestion, as by the present arrangements not only is the Naval Service promptly supplied with the amounts required, but there is an annual gain to the Board of Admiralty by exchange, which their Lordships see no good reason for sacrificing.