Colonial Despatches

I have the honor to transmit to you a statement furnished by my desire, of the account between the Agents General for Crown Colonies and Vancouver Island which exibits on the one hand receipts to the amountof of £42948-18-6 comprising £600 remitted from the Colony and £42348-18-6 the proceeds of debentures issued or about to be issued by the Agents General under the Vancouver Island Road and Harbour Loan Act of 1862.

And on the other hand payments to the extent of £667-1-4 and liabilitiesto to that of £27305-19-4 leaving an eventual balance of &14,975-17-10.

The payments of £667-1-4 are covered as far as £600 by sums remitted from the Colonly the remainder of £67-1-4 will have been met out of the proceeds of the debentures, and the liability of £231-19-4 due to the Board of Trade as well as that of£74 £74 which will be required for incidental expenses will in the absence of funds remitted from the Colony for the purpose, have to be defrayed from the same source.

When these liabilities together with those for the Bills now under acceptance and for the steam tug which the Colonial Government isabout about to purchase shall have been discharged, there will remain in the Agents' hands, as above indicated, a balance of £14975-17-10.

Up to that limit (vizt of £1475-17-10) such Bills as may arrive from you will be accepted and paid, but you must understand that youare are strictly prohibited from drawing any more, and that if Bills arrive from you beyond the above mentioned amounts, so that there will be no disposable funds in the Country to meet them, those Bills will be refused and the Colonial Government will have to bear theconsequences consequences.