<persName ref="prs:newcastle"><surname>Pelham-Clinton</surname>, <forename>Henry</forename> <forename>Pelham</forename> <forename>Fiennes</forename></persName> to <persName ref="prs:douglas_j"><surname>Douglas</surname>, <forename>James</forename></persName> 18 December 1862, NAC RG7:G8C/3, 160. Newcastle addressee Douglas

Published by Jim Hendrickson and the University of Victoria.

Pelham-Clinton, Henry Pelham Fiennes to Douglas, James 18 December 1862, NAC RG7:G8C/3, 160.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/V627122.html. NAC RG7:G8C/3 NAC RG7 G8C/3 160 122 V.I. 1862 rg7_g8c_03_00097r.jpg Transcribed from microfilm archives, marked up in Waterloo Script, then transformed into TEI P5 XML.

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Despatch from London. Enclosures (transcribed) (1), Enclosures (untranscribed) (1), Marginalia (1).

Newcastle informs Douglas that The Vancouver Island Road and Harbour Loan Act 1862 and The Vancouver Island Temporary Debenture Loan Act 1862 have been approved, and forwards the Treasury's concerns about the ability of the colony to service these debts. The Treasury warns that it will not provide assistance or accept responsibility should the colony default.

Pelham-Clinton, Henry Pelham Fiennes
Downing Street
Douglas, James Inserted revisionDesc with @status="unproofed". Added abstract.
No. 122 NAC, RG7, G8C/3, p. 160 (CO 410/1, p. 394)
Downing Street
18 December 1862 Sir,

With reference to your despatch No. 47 of the 8th of September last enclosing two Acts of the Legislature of Vancouver Island enabling you to borrow sums not exceeding £40,000 and £15,000 respectively upon Colonial Government Debentures, I have the honourto to apprize you of my intention to advise Her Majesty to confirm these Acts, and to enclose for your in formation and guidance copy of a letter from the Board of Treasury on the subject.

The Agents General for Crown Colonies have been requested to furnish the Report suggested bythe the Board of Treasury.

I have the honor to be Sir Your obedient Servant Newcastle Governor Douglas C.B.
F. Peel and F. Rogers, Treasury, to Colonial Office, 4 December 1862, approving the acts but requesting the Agents General to report on how they should be compensated for services rendered.
Vancouver IslandEnclosure to Despatches of 4th December 1862Mr Peel to Sir F RogersTreasury Chambers4th December 1862 Sir,

With reference to your letter of the 19th ultimo, enclosing two acts of the Legislature of Vancouvers Island, entitled respectively

"The Vancouver Island Road and Harbour Loan Act 1862" and

"The Vancouver Island Temporary Debenture Loan Act 1862"

I am directed by the Lords CommD of H. M. Treasury to acquaint you, for the information of the Duke of Newcastle that their Lordship will not object to the confirmation of the two Acts in Question, but they regret the absence of any information of a recent date respecting the financial condition of the Colony - as without it they can form no opinion as to the adequacy of the security provided for payment of the interest and for the redemption of the Loan.

With regard to the negotiation of the Loan by the Agents General for CrownCrown Colonies, and the signature by them, on behalf of the Colonial Government of Vancouver Island, of the Debentures to be issued in this country, My Lords desire that there should be a distinct understanding that in thus borrowing money for a Government which possesses the control over its own general revenue, without the supervision of H. M. Govt the Agents General are actingacting merely in the name of the Local Government can come under no responsibility on account of their transactions in that capacity or otherwise in connection with the Loan.

My Lords are of opinion that the Agents General should be called upon for a Report as to the mode in which the Govt of Vancouver Island should contribute towards the Expenses of the Agency for service to be rendered in respect to the Proposed Loan - I am &c

(sig) F: Peel
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