Peel to Rogers (Permanent Under-Secretary)

With reference to Mr Elliot's letter of the 13th Instant on the subject of the British Columbia Loan of
£50,000, I am desired by the Lords Commissioners of Her
Majesty's Treasury to state, for the information of the
Duke of Newcastle, that They are of opinion that the sums
to be annually set apart for the Sinking Fund of the Loan
under the British Columbia Loan Act 1862 may be invested
in the Consolidated £3 per Cent Annuities or in the New
£3 per Cent Annuities. And They see no objection to
the Trustees whom His Grace proposes to select.