No. 47, Legislative
8 September 1862
I have the honor to forward herewith to Your Grace the undermentioned Acts, together with the Attorney General's report thereupon.
I Vancouver Island Road and Harbor Loan Act 1862.
II Vancouver Island temporary Debenture Loan Act 1862.
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2. The first after repealing the Harbor Loan Act of 1861, the moneys raised under that Act having been paid off, Empowers the Governor to borrow upon Debentures secured as a primary charge upon the general Revenue of the Colony and bearing interest at the rate of six per centum per annum, a sum of money not exceeding Forty thousand pounds Sterling for the purpose of constructing Roads within the Colony, and for improving Victoria Harbor.
3. The second ActEmpowersManuscript image Empowers the Governor to borrow a sum of money not exceeding Fifteen Thousand pounds Sterling in anticipation of the moneys to be raised under the first named Act, so that the work of the improvement in Victoria Harbor may be at once proceeded with and advantage be taken of a present favorable condition of the labor market to open roads, and thus to induce settlement and retain immigrants in the Country.
4. I trust that these Acts may be found in due form, and that no objectionmayManuscript image may exist to their being left to their operation.
I have the honor to be
My Lord Duke
Your Grace's most obedient
and humble Servant
James Douglas
Minutes by CO staff
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Sir F. Rogers
The Governor does not give us any recent information concerning the financial state of VanC. Isld. The last statement we can find is one for seven months ending Decr/59 according to which the Revenue was £6643.6 [and] the expense £7851.0 leaving a deficiency at that time of £1207.14.
Perhaps the Treasurer of B. Columbia, Capn Gosset, who is now in EnglandManuscript image might be able to furnish some informn on the subject, if you wish for it. (5375/60).
ABd 31 Oct.
Sir F. Rogers
I presume that the long Act and the subsequent one about debentures will be referred to the Treasury. The Governor has quite recently sent home a Trade Return giving a very favorable view of the progress of commerce. As the Treasury are very jealous of Acts of this kind there might be no harm in seeing Captn Gossett if he is in London in order to see if we can gather from him any considerations in support of the present measures. But unless he is in Town I should not be disposed to write a letter to an absent subordinate about the Acts received from the Governor of the Island.
TFE 1 Novr
Mr Fortescue
I presume to the Treasury. Or is there any use in applying to Capt Gossett, who—be it observed is Treasurer not of V.C.I. but of B. Columbia.
It might be observed to the Ty that theManuscript image debres are to be secured not on the Land Revenue (wh is under the control of the Crown) but on the Genl Revenue wh is under the control of the Legre but that the obligation of making up any deficiency in the Genl Reve would probably fall upon the Land Reve.
That it is possible some inftn may be derived from the Treas: of B.C. Capt Gossett now in this Country and That if their Lps shd see no objection to the substance of these acts, it will be necessary to obtain from Mr Julyan a report respg the mode in wh V.C.I. shall pay for his Services.
It seems to me, I must say, that it can hardly be wise to borrow money even temporarily at 15 per cent per ann.
FR 3/11
To Treasury as proposed by Sir F. Rogers, I sh. say.
CF 4
To Treasury, but hardly useful to refer to Cap. G.
Documents enclosed with the main document (not transcribed)
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George Hunter Cary, Attorney General, to W.A.G. Young, Colonial Secretary, 8 September 1862, forwarding copy of the two acts [not on microfilm] and advising that he sees no objection to their passage.
Other documents included in the file
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Elliot to G.A. Hamilton, Treasury, 19 November 1862, forwarding copy of the despatch and enclosures and asking whether there was any objection to passage of the acts, with explanation.