1. I think myself that the objections to an expenditure of
                     £80,000 or £100,000 by this country on a dock at 
Esquimalt are
                     greater than the advantages that 
w result from it. Commercially
                     it 
w not enable us to compete with American trade—in time of war
                     it is doubtful whether it 
w not at once fall into the hands of
                     the U.S.
                     
                     But bearing this conclusion in view & expressing no
                     opinion in favour of commencing at imperial cost the work I think
                     that all that part of 
M Blackwoods min. 
w sets out the case m
                     with g advantage be embodied in a d to the 
Admiralty in
                     pursuance of the previous correspondence.
                     
                     2. I agree as to the d to 
the Treasury. But I s wish to
                     see both.
                     
                     3. It may I think be well to wait for another month before
                     making these com. It is probable that we shall hear from 
M
                        Seymour on one if not both these subjects shortly & the despatches
                     may contain some local information.