Trevelyan to Merivale (Permanent Under-Secretary)

I am commanded by the Lords Commissoners of Her Majesty's Treasury
to transmit to you herewith a Letter from the Committee of the Privy
Council for Trade dated the 16th
inst,

with its enclosures consisting of a Petition which has been addressed to
Her Majesty in Council for the grant of a Charter to the Bank of British 
Columbia and Vancouvers' Island and a draft Charter accompanying the
Petition and I am to request you will move Secretary Sir E. Bulwer Lytton
to inform My Lords whether he sees any objection to the Grant of
the proposed Charter or has any observations to offer on the subject.

I am directed to state that the names of the Petitioners appear to
My Lords to afford a guarantee of the bona fides of the undertaking, and
that as the Draft Charter is framed on the same principle as those of
other Colonial Bank Charters granted by Her Majesty. Their Lordships
would be disposed to recommend the Grant of the Charter as prayed for,
subject to such amendments of the Draft as may appear on strict revision
thereof to be advisable. Their Lordships are disposed to think that in
the present condition of the Colonies of British Columbia and Vancouvers'
Island the usual reference to the local authorities previous to the Grant
of Bank Charter may properly be dispensed with, as it is not likely that
the proposed Institution would interfere prejudicially with any existing
establishments and it seems to be desirable that these rising Colonies
should obtain the advantage, with as little delay as possible, of Sound
Banking Institutions based on British Capital.