Colonial Despatches

Having called upon the Crown Agents for a Statement of the present position of the Accounts of the governments of British Columbia and Vancouver Island, I transmit to you a copy of that statement for your information. Itappears appears that the Account of Vancouver is overpaid to the amount of £510, and that in July next a sum of £2000 will be required to pay Interest and sinking Fund on the Loan of £40,000.

The Account for British Columbia exhibits a present deficit of £6,199, besides which the sum of £6,250 will be required in July next to pay interest and sinking Fund on the two Loans of £50,000.

I have also obtained from the Crown Agents aCopy Copy of they letter of the 22nd Ultimo, bringing the state of the accounts within your notice.

I must draw your serious attention to these facts. The Government of British Columbia cannot be permitted to continue drawing out of the hands of the Crown Agents funds which belong to other Colonies, and unless it duly provides for its obligations in respect of its Public Loans, it will not only bring discredit on itself, but depreciate thesecurities securities of all the other British Colonies. I rely upon you therefore not to fail to remit sufficient funds to discharge the whole of the existing debt to the Crown Agents, and to provide for the accruing liabilities in respect of the Public Loans. These are and must be considered the first claims of all upon the Public Revenue, and if they cannot be provided for otherwise, it will be entitled to priority of payment over even the Official Salaries,except except those only actually necessary to the collection of the Revenues.