<persName ref="prs:seymour_f"><surname>Seymour</surname>, <forename>Frederick</forename></persName> to <persName ref="prs:grenville_r"><surname>Grenville</surname>, <forename>Richard</forename></persName> 3 February 1868, CO 60:32, no. 3373, 33. Seymour addressee Buckingham

Published by Jim Hendrickson and the University of Victoria.

Seymour, Frederick to Grenville, Richard 3 February 1868, CO 60:32, no. 3373, 33.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/B68004.html. CO 60:32 CO 60 32 3373 33 4 B.C. 1868 received 2 April co_60_32_00034r.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), Enclosures (untranscribed) (1), Other documents (1).

This document contains mentions of Indigenous Peoples. The authors of these documents often perpetuate a negative perspective of Indigenous Peoples and it is important to look critically at these mentions. They sometimes use terminology that is now considered hurtful and offensive. To learn more about modern terminology pertaining to Indigenous Peoples, Indigenous ways of knowing, and decolonization, please refer to the Glossary of terms.

Seymour forwards a letter from British Columbia’s auditor general, which suggests British Columbia’s sinking funds should be invested in British Columbia’s securities. Seymour discusses the benefits of making this investment and describes the developing financial security of British Columbia. Cox’s minute describes the ordinance allowing Seymour to invest in British Columbia’s securities and circumstances where British Columbia can invest in the securities of other British colonies. Rogers’s minute indicates the despatch should be sent to the Treasury and recommends following the advice of British Columbia’s auditor general.

Seymour, Frederick
New Westminster
Grenville, Richard Added abstract. Inserted revisionDesc.
No. 4 3373, CO 60/32, p. 33; received 2 April
New Westminster
3rd February 1868 My Lord Duke,

I have the honor to forward a letter from the Auditor General suggesting that the sinking fund of the British Columbia loans should be invested in the purchaseof of our own Securities which are now selling below par.

2. Unquestionably profit would be derived from this arrangement in one way, but it is for your Grace to consider whether, on the other hand, the Public Credit might not suffer by its being carried out.

3. The ordinance referred to was forwarded in the late Acting Governor's despatch No. 21 of the 17th March 1866.

4. Under

4. Under the strenuous efforts, I am now making to remit large sums to the Colonial Agents, I allow myself to think that the value of our Public Securities will soon rise. The debt is perfectly safe. Were every white man to desert the Colony save a few Public Officers, the amount of duty which could be collected on Imports for Indian consumption would pay the Interest and sinking fund.

5. I

5. I however believe that better times are approaching for the Colony.

I have the honor to be, My Lord Duke, Your most obedient, humble Servant. Frederick Seymour
Sir. F. Rogers Ordinance No 6 referred to was passed to enable the Agents to invest the B. Columbia Sinking Fund in the purchase of Columbia Debentures, but on the condition only that the Debentures were not cancelled—this was done after correspondence with the Ty see to them 21 Oct. 1865 (9854) & their answer 10851—& originated on a suggestion from the Crown Agents—9854.

When the Ordinance was sanctioned it does not appear that any communication was made to the Agents—but on the 7th March 67 authority was given to them to make the investments in the Securities of Ceylon, Mauritius, New South Wales, & the Cape—see Agents 2309 of 67—this had Ty sanction—see 11866.

Copy to Treasury for consideration with reference to previous correspondence—or in the 1st instance ask the Crown Agents?

CC 3/4
To Treasury. I wdwould make the investment recommended by the Auditor. FR 4/4 CBA 6/4 B&C 9/4
Minute, Robert Ker, Auditor General, to Colonial Secretary, 19 December 1867, making proposal as per despatch.
Rogers to Secretary to the Treasury, 16 April 1868, forwarding copy of the despatch for consideration.