Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Despatch to London
Seymour, Frederick to Cardwell, Edward 19 September 1864, CO 60:19, no. 10604, 215.
Abstract
Despatch to London.
Minutes (2), 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 acknowledges receipt of Cardwell’s despatch informing him of
unfavorableconditions in the
money market in England for the success of the British Columbian Loan.Seymour regrets that the
present exigenciesforce British Columbia to borrow money but asks for £20,000. The Colonial Office minutes their decision to authorize the loan.
No. 40
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.
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.
the 1st of October and
will be at sixty days' sight.
Minutes by CO staff
Mr Elliot
The Govr 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?
The Govr 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
Other documents included in the file
Draft reply, Cardwell to Seymour, No. 54, 5 December 1864, informing Seymour he has authorized the Crown Agents to accept the bill as requested.