M Elliot
                     The Treasurer states that the balance in 
the Treasury is
                     "insufficient to defray the current expenditure." He can scarcely
                     refer to the ordinary exp of the Colony—he must mean the
                     expenditure for the roads & for the other communications of the Colony
                     for which the Loan of £40,000 was effected. If I am right in this
                     assumption we should send this 
desp &c to the 
Crown Agents, who will
                     take such steps as are proper in

 the matter.
                     
 
                  
                  
                   
               
               
                  
                  
                     Of the Loan raised for the Harbor &c a balance of £8800 is reported
                     to be undrawn, and the Governor now draws for £4000. I think that we
                     should transmit a copy to the 
Crown Agents and authorize them to
                     accept and pay the bills if the Treasurer is correct in stating that
                     they have a larger sum at their disposal out of the proceeds of the
                     Loan raised for 
Vancouver Island.
                     
 
                  
                  
                     We can also write to [the] G, telling him that we have borrowed the
                     Bills, as there is a balance; but draw attention to the Treasurer's
                     language, & point out that the money can only be expended upon the
                     object for which the Loan is raised.
                     
                  
                  
                     Tell him that the remaining Balance after paying these Bills, will be
                     £[blank]

 and that he will of course take care that no Bills are drawn
                     beyond that amount.