No. 13

With reference to Your Despatch No 23 of 13th April,
transmitting
copy of a letter from the Crown Agents, respecting the
liabilities of this Government on account of the British
Columbia and Vancouver Island Loans, both as regards interest
and Sinking fund, I have the honor to report to Your Lordship
the course which has been pursued in this matter.

2. The sum to be remitted yearly to England on account of
Sinking Fund and Interest is about Twenty five thousand pounds
(£25,000), and it has been our custom to forward a sum of Two thousand
pounds (£2000), on the 1st of each month, with an extra sum of One
thousand pounds (£1000) in the Month of June to make up the amount.

3. During the year 1869 this has been done with great
regularity; the sums forwarded having been as follows—

January
£1500

February
2000

March
2160

April
2000

May
2000

June
3500

Total
£13160

or a sum of Thirteen thousand one hundred and sixty pounds, in
six months.

Occasionally, however, consequent on the great irregularity of
our Mails the monthly payment may have been deferred for two or
three weeks and thus has arisen the apparent irregularity
complained of in Your Lordship's Despatch No 23 of 13th April.

4. The payments for the remainder of the year, will be
regularly made as follows—

July
£2500

August
2000

September
2300

October
2000

November
2000

December
2000

I beg to solicit Your Lordships approval of this arrangement,
and will be glad to know if such payments will be considered
sufficient to meet the regular and incidental liabilities of the
Colony for the remainder of the year, or if any larger sums are
considered necessary for that purpose.