No. 37

I have the honor to acknowledge the receipt of your Despatch No.
4 of the 3rd of February, suggesting that the Sinking fund of the
British Columbia Loans should be invested in the purchase of the
Debentures of the colony.

In reply I transmit to you, for your information, copies of a
correspondence which has passes on the subject between this
Department, the Board of Treasury and the Crown Agents from which
you will see that the Crown Agents have been given a discretionary
power for the investment, subject to the provisions of the Ordinance
No. 6 of 1866, of the Sinking fund of the British Columbia Loans in
the purchase of Debentures of British Columbia or of Ceylon, New
South Wales, Mauritius, Victoria, Cape of Good Hope or New Zealand.