Bethell and Atherton to Newcastle

We were honored with Your Graces commands signified in Mr Merivale's
letter of the 31st December ulto stating that he was directed by
Your Grace to request that we would favor you with our opinion on the
following question.

Whether, on the repurchase of the soil from the Hudson's Bay Company
being effected, the public lands of the Colony, and the revenue
arising therefrom, will be at the disposal of the Legislature (the
title to the lands of course remaining vested in the Crown) under its
general powers?

Or, whether the public lands will be subject to the management of the
Crown, and the revenue derivable therefrom at the disposal of the
Crown, as a separate fund from the ordinary revenue of the Colony?

In obedience to such commands we have taken the above question into
consideration and have the honor to Report

That, on the repurchase of the soil from the Hudson's Bay Company by
the Crown being effected, the public lands of the Colony and the
revenue arising therefrom, will not be at the disposal of the
Legislature, under its general powers: but that such Lands will be
subject to the management of the Crown; and the revenue derivable
therefrom at the disposal of the Crown, as a separate fund from the
ordinary revenue of the Colony.