resolved, that no countenance or support should be given to the schemes proposed by the Bank of Western India, except on the conditions detailed in Enclosure 529, a copy of which was forwarded to Mr Campbell, and he was informed, that on no other terms could the Government countenance the proposed paper circulation, by receiving the notes in payment for revenue. The requisite security seems to be embodied in these conditions, and the option left to the Government of withdrawing its support at any time.
A letter, Enclosure No. 3, has been received from Mr Campbell, generally acquiescing in the justice of these terms, and I shall be happy to be favored with instructions, that Your Lordship may be pleased to give upon the Subject.
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I have the honor to be,
With the highest respect,
Your Lordship's,
Most Obedient,
Humble Servant