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the Crown Agents have debited the Colony with an advance of £4753.8.8 which was required to balance the accounts. This state of affairs is owing to the expenditure referred to, which could not have been anticipated in time to make remittance to England, as Your Lordship's Despatch notifying the arrangements made did not reach the Colony until the 26th instant.
At the same time, however, there was in the hands of the Agents a bill for £5,000 which would mature on 30th June, 1872. It would, I think, have been advisable that the Crown Agents should have discounted this Bill by which the sum due to them would have been materially reduced, and the charge for interest on the advance would be less than is anticipated. Indeed, I should be glad if your Lordship would cause the Agents to be instructed to discount, on all future occasions, bills not matured which they may have in their possession to the credit of the Colony, when money is required for Colonial purposes.
3.
By this Mail I am