No. 104

I have the honor to forward herewith, Copies of the following
Acts for the Colony of British Columbia,

numbered 1 to 4, as under,

No. 1. Spuzzum Road Bonds Act 1860.

No 2. Shimilkomeen Road Bonds Act 1860.

No 3. Customs Amendment Act 1860.

No 4. Roads Tolls Act 1860.

The object of the two first Acts was to create British Columbia
Treasury Bonds, bearing interest at the rate of Six per cent per
annum for the purpose of defraying

a part of the cost of forming
the Spuzzum and Shimilkomeen Roads, not exceeding altogether the
sum of Ten Thousand Pounds (£10,000), which it was feared could not
be conveniently met by the ordinary revenue of the current year.
It was therefore provided that a portion of the Bonds only, should
be paid this year, and that the remainder of the sum should be
made

redeemable by annual payments, commencing with the 1st
day of January 1861, and ending on the 1st day of January 1863.

The Treasurer has ample funds in hand to meet the first payment
which falls due at the close of the present month, and there can
be no reasonable doubt of the ability of the Colony to meet the
succeeding payments as they respectively come due.

Notwithstanding my firm reliance on the increasing trade and
financial resources of the Colony, and that I advised Your Grace
of my intention in my Despatch marked "Separate" of the 6th
of July 1860, I feel that I have exceeded my proper powers and
authority in creating, without your previous sanction, a debt
of even a temporary nature.

I would however, in explanation remark that

it was only after
all other means of raising money for opening the great thoroughfares,
which are of indispensable use and necessity in promoting settlement
and developing the resources of the country, had signally failed,
that I resorted to that expedient.

In consideration of that fact and of the magnitude and
importance of the object proposed, I trust the measure will meet

with Your Grace's approval, especially as the "Roads Tolls Act"
numbered 4 in the Schedule, imposes a duty of one farthing a pound
on all goods carried inland from Douglas, Hope and Yale, for the
purpose of raising an additional revenue for the liquidation of
the Road Bonds, and for the improvement and formation of other
roads

in the Colony: a tax imposed with the approval of the
people, and which will be of signal advantage to the country at large.

The "Customs Amendment Act," numbered 3, imposes a fixed
rate on certain goods specified in the Act as a substitute for
the ad valorem duties previously levied on such goods when
imported into British Columbia, and aims only

at the improvement
of the Revenue and facilitating its collection.