Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Despatch from London
Cardwell, Edward to Birch, Arthur Nonus 16 November 1865, NAC RG7:G8C/12, 387.
Abstract
Cardwell, Edward to Birch, Arthur Nonus 16 November 1865, NAC RG7:G8C/12, 387.
Despatch from London.
Other documents (4).
No. 91
16 November 1865
Sir,
I transmit to you, for your information, the enclosed copies of a
correspondence which has taken place with regard to the investment
of the Sinking Fund of the Loan raised under the British Columbia
Ordinance No. 7 of 1864, and to the appointment of Trustees for the
management of the Fund.
You
You will observe that I am unable to authorize the investment of
the Sinking Fund in the manner proposed by the Crown Agents owing to a
doubt which has arisen respecting the intention of the 12th Section of
the Act. It is uncertain whether the word "thereof" in the 10th line of
that section relates to additional moneys voted by the Legislature for
the repurchase of the Debentures under the Loan or to the accumulation
of the Sinking Fund itself, out of which latter fund it would be
obviously imprudent to repurchasethe
the Debentures.
the Debentures.
I have to request that you will acquaint me with the interpretation
which your government considers should be placed upon this Clause, and
the similar Clauses in the former Acts quoted in the Treasury letter,
and that if necessary you will procure their amendment.
The Officer Administering the Government
Other documents included in the file
Copy, Under Secretary for the Colonies to the Crown Agents, 16 November 1865, forwarding correspondence on a £100,000 loan to BC.
Copy, Childers to Rogers, 8 November 1865, stating that the Treasury agrees to appoint Julyan and Gairdner to be trustees of the loan.
