No. 21

I have had the honor to receive Your despatch No. 91 of
16th November, forwarding copies of a Correspondence between
the Colonial Office, and Board of Treasury, and the Agents
General on the subject of the investment of monies accruing to
the Sinking Funds of the several Loans authorized under the
Ordinances named in the Margin.

*

2. There can be no doubt that it was the intention of the
Legislature to empower the Trustees to repurchase the Debentures
of this Colony out of the money to be annually applied to the
formation of the Sinking Funds, allowing the Debentures so
purchased to remain bearing interest in the hands of the Trustees
of the Loan.

3. As however Clause 12, in the Ordinance of 1864 clearly
admitted of a different interpretation I considered it advisable
as the Legislature is still in Session, to remove all doubt by
introducing a further enactment, and I have now the honor to
transmit an authenticated and two plain copies of an Ordinance
entitled:

No. 6 An Ordinance regulating the investment of Sinking
Funds of Public Loans.

I add the report of the Attorney General.