No. 70, Financial

With reference to my despatch No. 45 of the 7th August
last and to former correspondence, I have the honor to forward
herewith an Act providing for the raising of the sum of One
hundred thousand Pounds (£100,000) on the security of the Revenue of
British Columbia, together with a Precis by the Attorney General
of the object and character of the Act, which conveys my own
views so very fully that it is unnecessary to re-open the subject
in this despatch.

2. The liabilities of the Colony in respect to securities
at present existing are as follows:

Road Bonds payable 31st December 1861 ...... £1600

" " " " " 1862 ...... £1650

" " " " " 1863 ...... £1500

Total ......£4750

as fully detailed in the accompanying Statement, which also
exhibits the liability originally incurred under this head,
and the amount of Bonds which have already been redeemed.

3. For further information I enclose a Statement of the
Revenue of the Colony for the nine months ended 30th September 1861.

4. I trust that these documents may be considered satisfactory,
and I would only further remark that we have not strictly adhered
to the plan proposed in my said despatch of the 7th August
either as respects the extent of the Loan or time of payment, for
owing to the increasing demands of the Country, I thought it was
better to increase the Loan, and to extend the period of repayment
to twenty years, all of which I hope will meet with your Grace's
concurrence and support.