in connection with Borneo; and we have the Australians to think of. Since writing my minute on 734, I stated that there have been sundry Australians, who deprecate the expensiveness of a Pacific Cable, and have begun to centre their hopes of getting a cheaper one on the Canadian wire. I think it would be rash to commit ourselves to the Cable Telegraph Company without letting Australia know directly or indirectly and thus firing their suspicions.
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I have had two interviews with Sir J. Pender on his proposal. He pretends to be afraid of reckless competition, but I could not discover in what way they could by any possibility interfere with him and his Company. I told him that Canada has obtained landing rights in Japan via the Australian islands and some Russian islands in the North Pacific, and we could not expose ourselves to the risk of being charged with stopping them just should they wish to extend their line thitherward. He said he thought it improbable that combination they could never get the money. The time would not be ripe.
I said, If so, he should not object to a monopoly being given to him subject to the right of other cables being used. But he said he could not agree to this.