Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Public Offices document
Sargeaunt, William Charles to Elliot, Thomas Frederick 21 December 1864, CO 60:20, no. 11695, 68.
Abstract
Public Offices document.
Minutes (3), Other documents (1).
Sargeaunt reports on the amounts due by British Columbia and the interest and Sinking Funds on the loans. Elliot minutes a suggestion that the Colonial Office use this report as a
convenient occasionto remind Seymour of his duty to make regular payments.
Sargeaunt to Elliot (Assistant Under-Secretary)
In reply to your letter of yesterdays date I have the honor
to state, for the information of Mr Secretary Cardwell,
that the amount due to the Crown Agents from the Government
of British Columbia to the present date is £2362.5.11, and
that the interest and Sinking Funds on the loans already
raised in this Country for that Colony amount to £12,500
per annum,half
half (£6250) becoming payable at this Office on
the 1st January and 1st July in each year.
half (£6250) becoming payable at this Office on
the 1st January and 1st July in each year.
From a conversation I had with Mr Seymour,
previous to his departure from this Country for British
Columbia, I am aware that he is quite alive to the fact
that the regular and punctual payment of this interest
is essential to the credit of the Colony, and I attribute
the non-arrival of remittances to the supposition that
the Crown Agents would hold a large amount to thecredit
credit
of the Colonial Government from the proceeds of the sale
of fresh Debentures beyond the amount required (£20,000)
to meet the bills referred to in your letter of the 2nd instant.
credit
of the Colonial Government from the proceeds of the sale
of fresh Debentures beyond the amount required (£20,000)
to meet the bills referred to in your letter of the 2nd instant.
Minutes by CO staff
I would by no means use any terms to Governor Seymour
which would imply a want of confidence in his regularity,
but I think that the present affords a convenient occasion
of taking care that the subject is not overlooked. Should
Mr Cardwell approve, I will endeavour to frame for
consideration a draft intended to keep the matter before
the Governor, and to prevent any risk of failure in
providing for the interest in July and subsequent half-years.
The Authorities in B. Columbia may naturally reckon
on their £50000 loan as a grand resource in England,
but they are rapidly consuming it. They have drawn
bills for £20,000, there is the approaching interest of
£6000, & a debt to the Agents of more than £2000,
besides fresh requisitions which are not likely to cost
less than something like £5000.
TFE
22 Decr
I entirely approve this very excellent suggestion.
EC
23
