 
                  
                  
                     I felt satisfied that the 
Duke of Buckingham would desire to have
                     some authentic statement of the present position of the Accounts
                     in England of 
British Columbia and 
Vancouver Island, and therefore
                     called on the Agents for the one furnished in the present letter.
                     
                     Three times in succession 
B. Columbiahas
 has failed to provide
                     funds to pay it's public creditors. Once we obtained the means from
                     
the Treasury, and on the two next occasions the 
Crown Agents paid
                     the money out of their general balance, in other words out of the
                     money of other Colonies. This, it is plain, cannot be allowed to
                     continue.
                     
                     I submit for consideration a draft to the Governor. He has
                     already been told in former Despatches that he must not fail to remit
                     money for the interest of the debt. The present account seems to
                     require a more general instruction. The passage about salaries is
                     a suggestion of my own for consideration. It may seem strong, but
                     where exhortation has been unavailing, may it not be better to insist
                     upon some practical measure which will rouse all the Authorities in
                     the Colony to the necessity of exertion about their finances?
                     
What 
                  
                  
                     What makes the matter so very serious, it seems to me, is the
                     danger to the character and value of all Colonial Securities if this
                     unlucky Colony defaults.