<persName ref="prs:julyan_pg"><surname>Julyan</surname>, <forename>Penrose</forename> <forename>Goodchild</forename></persName> to <persName ref="prs:elliot_tf"><surname>Elliot</surname>, <forename>Thomas</forename> <forename>Frederick</forename></persName> 27 July 1864, CO 60:20, no. 7078, 60. Julyan addressee Elliot (Assistant Under-Secretary)

Published by Jim Hendrickson and the University of Victoria.

Julyan, Penrose Goodchild to Elliot, Thomas Frederick 27 July 1864, CO 60:20, no. 7078, 60.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/B645AG07.html. CO 60:20 CO 60 20 7078 60 B.C. 1864 received 28 July co_60_20_00061r.jpg Transcribed from microfilm archives, marked up in Waterloo Script, then transformed into TEI P5 XML.

The project glossary items have xml:id attributes beginning with trm_, and we use a trm: prefix to refer to them when linking from term elements.

We link to orgs in orgs/organizations.xml using the org: prefix.

We link to places in places.xml using the plc: prefix.

We link to people in bios/*.xml using the prs: prefix.

We link to vessels in vessels/*.xml using the vsl: prefix.

We link to other documents in the collection using the cdc: prefix.

The cdt (ColDesp Document Type) prefix used on catRef/target points to a central taxonomy in the includes file.

We link to other documents in the collection using the cdc: prefix.

Public Offices document. Minutes (1), Other documents (2).

Regarding British Columbia’s loan, Julyan reports that the Crown Agents will at once make all the preliminary preparations for raising the Loan, so as to be ready to take advantage of the first favorable turn in the Markets.

 Julyan, Penrose Goodchild
Offices of the Crown Agents for the Colonies Spring Gardens, London, S.W.
Elliot, Thomas Frederick Added abstract. Inserted revisionDesc.
Julyan to Elliot (Assistant Under-Secretary) 7078, CO 60/20, p. 60; received 28 July
Offices of the Crown Agents for the Colonies Spring Gardens, London, S.W.
27 July 1864 Sir,

I have the honor to acknowledge the receipt of your letter of the 16th Inst, relative to the negotiation of the Loan authorized by the British Columbia Loan Ordinance of the 10th March 1864, amounting to £100,000, and conveying to the Crown Agents for the Colonies Mr Secretary Cardwell's authority for their proceeding to raise this Loan in such portions and at such times as they may find compatible with the state of the Money Market, and with the interests of the Colony.

In reply I beg to inform you, for Mr Cardwell's information, that althoughthe the Crown Agents have received instructions from the Colonial Government to place one half the amount on the market forthwith, and they have furthermore reason to believe that the money is urgently wanted, yet they are so strongly convinced that it would be prejudicial to the interests of the Colony to attempt to place their Debentures on the market just now, that they propose to abstain from making any such attempt until there shall appear to be some reasonable prospect of success.

The high price of money, and the attraction of capital to the great Financial and Banking Companies which are daily brought before the public, coupled with the strong indications given by the Pressand and by Parliament of a desire for a change in the Colonial policy of this Country, have had the effect of seriously depreciating Colonial Government Securities, and have rendered it impossible, at the present moment, to negotiate a loan of any considerable amount unless at a great sacrifice.

The Crown Agents will at once make all the preliminary preparations for raising the Loan, so as to be ready to take advantage of the first favorable turn in the Markets; but they propose with Mr Cardwell's Sanction to allow the matter to stand over until that time arrives.

I have the honor to be, Sir, Your most obedient servant, Penrose G. Julyan
Sir F. Rogers Approve; & either send a copy of this Letter to GovrGovernor Seymour with refce to Mr Cardwell's deph of the 16 July, or acquaint him with its contents. ABd 28 July FR 28/7 EC 29
Draft reply, Cardwell to Seymour, No. 29, 1 August 1864, transmitting Julyan's letter.
Rogers to Crown Agents, 2 August 1864, advising of Newcastle's approval of their abstention from making any attempt to raise the British Columbia loan.