Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Despatch from London
Pelham-Clinton, 5th Duke of Newcastle Henry Pelham Fiennes to
Douglas, Sir James 18 August 1862, NAC :, 130.
Abstract
Pelham-Clinton, 5th Duke of Newcastle Henry Pelham Fiennes to
Douglas, Sir James 18 August 1862, NAC :, 130.
Despatch from London.
No. 115
Downing Street
18 August 1862
Sir,
I have to acknowledge the receipt of your despatch No. 34 of the
10th of June transmitting an Act passed by the Legislature of Vancouver Island in the month of May last and intituled
An Act to authorise the Governor of Vancouver Island to borrow
money for temporary purposes.
As it may have been
necessary to borrow this money and as the Act
has been passed by a Representative Legislature, I will not recommend
Her Majesty to dis-allow it; but it is evident that a Government cannot
go on borrowing at that rate of interest without the most ruinous
consequences, and that it is the duty of the Executive which cannot be
neglected without the gravest culpability to take care that there is no
necessity forsuch
such a mode of proceeding.
necessary to borrow this money and as the Act
has been passed by a Representative Legislature, I will not recommend
Her Majesty to dis-allow it; but it is evident that a Government cannot
go on borrowing at that rate of interest without the most ruinous
consequences, and that it is the duty of the Executive which cannot be
neglected without the gravest culpability to take care that there is no
necessity forsuch
such a mode of proceeding.
It is evident, that nothing can justify any person in borrowing at
such interest but the opportunity of making corresponding profit, and
that as Government makes no profit on its money, nothing but an
unforeseen emergency can justify the Government in so borrowing.
Governor Douglas C.B.