M Elliot
The Treasurer states that the balance in
the Treasury is
"insufficient to defray the current expenditure." He can scarcely
refer to the ordinary exp of the Colony—he must mean the
expenditure for the roads & for the other communications of the Colony
for which the Loan of £40,000 was effected. If I am right in this
assumption we should send this
desp &c to the
Crown Agents, who will
take such steps as are proper in
the matter.
Of the Loan raised for the Harbor &c a balance of £8800 is reported
to be undrawn, and the Governor now draws for £4000. I think that we
should transmit a copy to the
Crown Agents and authorize them to
accept and pay the bills if the Treasurer is correct in stating that
they have a larger sum at their disposal out of the proceeds of the
Loan raised for
Vancouver Island.
We can also write to [the] G, telling him that we have borrowed the
Bills, as there is a balance; but draw attention to the Treasurer's
language, & point out that the money can only be expended upon the
object for which the Loan is raised.
Tell him that the remaining Balance after paying these Bills, will be
£[blank]
and that he will of course take care that no Bills are drawn
beyond that amount.