3
300
Jika
Enclos
Your Lordship's information, a copy of an important letter on this subject addressed to the Secretary of State for War by Major-General Sargent, 2.13., Commanding Her Majesty's Troops at this Station.
2.
It will be seen that the proposal of General Sargent is practically that this Colony should be invited to raise a loan of one hundred thousand pounds (£100,000) for the completion of the Fortifications on the following conditions:-
(1.) 15th Feby. 1857
(1) that this loan should be "guaranteed by the Imperial Government; (the work being of an Imperial character, and as such a guarantee would probably enable the Colony to raise the money at 4 instead of 5½ or 6 per cent.
(2) That the War Office should come to a definite decision as to the plan of Defences to be adopted, and as to what lands are required for the creation of Defensive Works, or other Military purposes. With regard to this latter point, General Sargent.