Sargeaunt to Elliot (Assistant Under-Secretary)

Adverting to my letter of this days date on the subject of
the British Columbia Loan of £100,000 to be raised under
Ordinance No 7 of 1864 I have the honor to report, for the
information of Mr Secretary Cardwell, that Bills amounting
to £29,000 drawn by the Colonial Treasurer of that Colony and
payable at 60 days sight part in favor of the Bank of
British North America and part in favor of the Bank of British
Columbia have been left at this office for acceptance, the
Crown Agents have at present received no advice from the
Colony with respect to these Bills.

Taking into consideration however the respectability of
the Banks in whose favor the Bills have been drawn, and by
whom they are still held there is no reason to doubt that
they are genuine, and I have therefore to apply for authority
to accept them and to make provision for meeting them when due
by the sale or hypothecation of British Columbia Debentures on the best
terms the Crown Agents under the necessities of the case can obtain.