No. 26
On the 11th instant I had the honor to receive a Telegraphic
message from Your Lordship as follows:
Floating Debt consolidated. Wait for Despatch sent 26th
February.
2. I shall of course
wait wait for that Despatch and be guided by
any instructions it may contain; but, as there is now some
prospect of obtaining a basis for negotiation with Canada for
the Union of this Colony with the Dominion, I do not at present
propose to deal with the floating Debt until it can be
ascertained whether an agreement for Union is possible, and what
financial arrangements can best be made under such
circumstances
circumstances.
3. I still intend to introduce the Bill to give authority to
consolidate the debt; but not to use that authority unless it
should appear clearly expedient to do so.
4. The appropriation Act for 1870 is passed and shall be
forwarded to Your Lordship by the next Mail.
I have the honor to be,
My Lord,
Your most obedient
humble Servant
A. Musgrave
Minutes by CO staff
Mr Herbert
I conclude under the circes that
Mr Musgraves
intentions in regard to the floating Debt as expressed in par 3
may be approved.
Reply that as he will have learned from the Desp of
25 Feb his
proposals for the consolidation of the Floating Debt are not in
accordance with the more complete scheme of
Mr Julyan; & that
if he has introduced the Bill to which he refers, he will
probably see the desirability of amending it.
At once.
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