Colonial Despatches
The colonial despatches of Vancouver Island and British Columbia 1846-1871
Correspondence (private letter)
Taylor, Richard to Pelham-Clinton, Henry Pelham Fiennes 16 May 1853, CO 305:4, no. 5168, 317.
Abstract
Correspondence (private letter).
Minutes (4), Other documents (1).
Taylor writes to Newcastle on the subject of Gray and Easterby’s mining-grant application on
Queen Charlotte's Island,which, Taylor states, is not motivated by stock-exchange speculation. Among other points, Taylor discusses the
floating Capitalrequired to mine at such remote distances, and that assurances of a government grant would catalyze a private association’s investments to do so
on an effectual scale.Taylor acknowledges Newcastle’s earlier request to name Easterby’s
grantees,and declares his abstinence from any professional involvements in the scheme.
In the minutes, Blackwood finds Taylor’s position evasive, and he wonders why Gray and Easterby have yet to disclose their
Association of persons,particularly in light of assurances that the scheme is not a
Stock jobbing affair.Blackwood defers the matter to the Land Board, and asks the same to note De la Becke’s earlier suggestions. Elliot argues that the scheme is more likely a Board of Trade matter, and he demands that Easterby reveal his associates’ identities. Finally, Newcastle follows Peel’s suggestion to ask Taylor to name the
Lessees,and to, in the meantime, consult the Board of Trade for advice.
This file encloses a draft letter, from the Colonial Office to Taylor, that asks for the names of the associates of the mining-scheme, as
an essential preliminaryto further consideration.
Taylor to Newcastle
In reference to the application of Messrs Gray & Easterby for a
grant of Mining ground in Queen Charlotte's Island, Your Grace will
perhaps permit me to state that it has not originated with a view to
speculating on the Stock Exchange, but to prosecute a more thorough
investigation of the Mines and an effectual working of them should they
be found equal to the expectations formed.
I would beg to state that altho' the mere Mining operations would
not be very costly, yet that from the length of the voyage in
transporting the quartz as at present proposed to England, occupying as
it would nearly twelve months outand
and home, and the number of vessels
which must be chartered if not purchased, a large amount of floating
Capital must necessarily be provided, probably amounting to 40,000 or
50,000; a capital such as may exceed what a few individuals would feel
inclined to risk. Therefore should Her Majesty's Government be pleased
to make a grant upon such terms as are suggested in my letter to Your
Grace of the 7 ulto, Mr Easterby and the gentlemen who would
associate themselves with him, would immediately cause some further
preliminary exploration to be made under the direction of an experienced
Miner; and should his report prove favorable, would at onceproceed
proceed to
raise the necessary Captial for working the Mines on an effectual scale.
and home, and the number of vessels
which must be chartered if not purchased, a large amount of floating
Capital must necessarily be provided, probably amounting to 40,000 or
50,000; a capital such as may exceed what a few individuals would feel
inclined to risk. Therefore should Her Majesty's Government be pleased
to make a grant upon such terms as are suggested in my letter to Your
Grace of the 7 ulto, Mr Easterby and the gentlemen who would
associate themselves with him, would immediately cause some further
preliminary exploration to be made under the direction of an experienced
Miner; and should his report prove favorable, would at onceproceed
proceed to
raise the necessary Captial for working the Mines on an effectual scale.
Having been informed by Mr Easterby that Your Grace requires the
names of some responsible persons resident in England as grantees, I beg
to observe that although as I stated in my first application, I only
acted professionally and had no intention of becoming otherwise
interested in the matter; my abstaining from taking any share in it does
not arise from any doubt of the bona fides of the undertaking, or of the
respectability of the parties on whose behalf I have applied; and that I
do not doubt that Mr Easterby will be able to propose to Your Grace
the names of such persons asmay
may be safely accepted by Your Grace as
Lessees.
may be safely accepted by Your Grace as
Lessees.
To His Grace the Duke of Newcastle
&c &c &c
&c &c &c
Minutes by CO staff
This letter seems to me as not a sufficiently definite answer to
the question proposed in the Duke of Newcastle's minute of the 30th ultimo, which I put to Messrs Esterby [Easterby] & Gray personally when they called at this Office on the 5 instant. I collect from it that the capital will be raised by an Association of persons, but not a Company, & that the scheme is not intended as a Stock jobbing affair, but will be respectably conducted. Then why
should not the names of the
Supporters of the undertaking be disclosed? The difficulty probably
consists in finding persons to join in a scheme when it has not been
ascertained what the Government will grant. I should suggest as the
best way of coming to an understanding on the subject that the papers
should be referred to the Land Board, that that Department should be
directed to prepare a draft Lease on the terms of Sir Henry De la Beckes
Letter, with any improvements therein which the Duke of Newcastle may
think proper to suggest, that the draft
should be submitted to Mr
Taylor, as the Agent or Professional Advisor of Messrs Esterby, with
an enquiry whether his clients will agree to its' provisions if the
Treasury assent to them—and if they do agree, then refer the Draft
Lease and all the papers to the Treasury. But still the names of the
Supporters of the undertaking, & their Means—as far as such a point can
be ascertained—should be made known to the Govt for the reason
expressed in the Duke of Newcastle's minute.
the question proposed in the Duke of Newcastle's minute of the 30th ultimo, which I put to Messrs Esterby [Easterby] & Gray personally when they called at this Office on the 5 instant. I collect from it that the capital will be raised by an Association of persons, but not a Company, & that the scheme is not intended as a Stock jobbing affair, but will be respectably conducted. Then why
should not the names of the
Supporters of the undertaking be disclosed? The difficulty probably
consists in finding persons to join in a scheme when it has not been
ascertained what the Government will grant. I should suggest as the
best way of coming to an understanding on the subject that the papers
should be referred to the Land Board, that that Department should be
directed to prepare a draft Lease on the terms of Sir Henry De la Beckes
Letter, with any improvements therein which the Duke of Newcastle may
think proper to suggest, that the draft
should be submitted to Mr
Taylor, as the Agent or Professional Advisor of Messrs Esterby, with
an enquiry whether his clients will agree to its' provisions if the
Treasury assent to them—and if they do agree, then refer the Draft
Lease and all the papers to the Treasury. But still the names of the
Supporters of the undertaking, & their Means—as far as such a point can
be ascertained—should be made known to the Govt for the reason
expressed in the Duke of Newcastle's minute.
ABd
17 May
It appears to me quite essential that the Secretary of State should
have some evidence
that the persons proposing to engage in the
undertaking have sufficient means to carry it into effect successfully.
The Board of Trade are more often called upon than we are to deal with
projected companies and I believe that it will be found on inquiry that
such a preliminary as above stated is always insisted on by them before
any privileges are conceded. It occurs to me, therefore, that it would
be premature to give the Commrs the trouble of preparing a Lease and
the Treasury of considering it until Mr Esterby is ready openly to
state who and what are the Gentlemen who are to be his associates.
have some evidence
that the persons proposing to engage in the
undertaking have sufficient means to carry it into effect successfully.
The Board of Trade are more often called upon than we are to deal with
projected companies and I believe that it will be found on inquiry that
such a preliminary as above stated is always insisted on by them before
any privileges are conceded. It occurs to me, therefore, that it would
be premature to give the Commrs the trouble of preparing a Lease and
the Treasury of considering it until Mr Esterby is ready openly to
state who and what are the Gentlemen who are to be his associates.
Probably some useful suggestions on the practical mode of bringing
this to a point might be obtained by personal inquiry, as to the course
usually followed in such cases at the Board of Trade.
TFE
17 May
Mr Taylor states that Mr Easterby will he has no
doubt propose the names of persons who may be safely accepted as Lessees. He mt be informed in answer to this letter that upon the Names referred to being submitted to HG the propriety of granting a lease would be taken into Consn.
doubt propose the names of persons who may be safely accepted as Lessees. He mt be informed in answer to this letter that upon the Names referred to being submitted to HG the propriety of granting a lease would be taken into Consn.
FP
17
Other documents included in the file
Draft, Colonial Office to Taylor, 28 May 1853, stating that "an
essential preliminary" to further consideration of the matter would be
submitting the names of persons who were prepared to join the undertaking.