<persName ref="prs:seymour_f"><surname>Seymour</surname>, <forename>Frederick</forename></persName> to <persName ref="prs:cardwell"><surname>Cardwell</surname>, <forename>Edward</forename></persName> 19 September 1864, CO 60:19, no. 10604, 215. Seymour addressee Cardwell

Published by Jim Hendrickson and the University of Victoria.

Seymour, Frederick to Cardwell, Edward 19 September 1864, CO 60:19, no. 10604, 215.The Colonial Despatches of Vancouver Island and British Columbia 1846-1871, Edition 2.6, ed. James Hendrickson and the Colonial Despatches project. Victoria, B.C.: University of Victoria. https://bcgenesis.uvic.ca/B64240.html. CO 60:19 CO 60 19 10604 215 40 B.C. 1864 received 17 November co_60_19_00217r.jpg Transcribed from microfilm archives, marked up in Waterloo Script, then transformed into TEI P5 XML.

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Despatch to London. Minutes (2), Other documents (1).

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Seymour acknowledges receipt of Cardwell’s despatch informing him of unfavorable conditions in the money market in England for the success of the British Columbian Loan. Seymour regrets that the present exigencies force British Columbia to borrow money but asks for £20,000. The Colonial Office minutes their decision to authorize the loan.

 Seymour, Frederick Cardwell, Edward Added abstract. Inserted revisionDesc.
No. 40 10604, CO 60/19, p. 215; received 17 November 19th September 1864 Sir,

I have had the honor to receive Your despatch No. 21 of the 16th of July, informing me how unfavorable is the present state of the money market in England for the success of the British Columbian Loan.

2. I extremely regret that the present exigencies of the Colony render it indispensable that we should borrow money in Englandor or here. If here the lowest rate at which money can be procured from the Bank of British Columbia is 12 per cent. The lending money at that rate is considered a favor, and we are more in the power of the Bank already than I think right.

3. Enormous disbursements will have soon to be made on account of the two Expeditions against the Indians, and under these circumstances I trust you will not think that I am acting improperly in drawing upon the Crown Agents for twenty thousand pounds (£20,000).

4. The bills will be dated aboutthe the 1st of October and will be at sixty days' sight.

I have the honor to be Sir Your most obedient humble Servant Frederick Seymour
Mr Elliot The GovrGovernor seems to be in urgent need for the £20,000 for which he now asks. The Agents were instructed to raise the loan of £100,000 by degrees according to the State of the Money Market. I presume there is no alternative but to authorize them to raise sufficient to meet these Bills? VJ 18 Nov
I circulate today a letter from the Agents asking leave to accept the Bills for £20,000. If Mr Cardwell approves, that decision will supply an answer to the present despatch. TFE 30 Novr
Draft reply, Cardwell to Seymour, No. 54, 5 December 1864, informing Seymour he has authorized the Crown Agents to accept the bill as requested.