Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Public Offices document
Julyan, Penrose Goodchild to Rogers, Baron Blachford Frederic 26 December 1866, CO 60:26, no. 12205, 65.
Abstract
Julyan, Penrose Goodchild to Rogers, Baron Blachford Frederic 26 December 1866, CO 60:26, no. 12205, 65.
Public Offices document.
Minutes (7), Other documents (3).
Julyan to Rogers (Permanent Under-Secretary)
Offices of the Crown Agents for the Colonies
Spring Gardens, London, S.W.
26th December 1866
Spring Gardens, London, S.W.
Sir,
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:
Interest
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
£6,250
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
£6,250
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.
Minutes by CO staff
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.
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
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.
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
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.
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 the
Sinking Fund may at once be forwarded, with such further amounts as
may enable the Cr. A. to meet the engagements of the Colony.
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.
Other documents included in the file
Rogers to Crown Agents, 29 December 1866, authorizing payment of
interest on debentures and postponement of payments on account of
sinking fund.
Draft reply, Carnarvon to Officer Administering the Government,
No. 1, 1 January 1867.
Elliot to G.A Hamilton, Treasury, 12 January 1867, forwarding
correspondence on the subject of colonial finances.