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$3,600 premium, being at the rate of 50 cents per square foot, and 850 per annum crown rent (which is at the rate of 8300 per acre per annum); ; and I would ask your sanction to alienate the land without auction, for the purposes of an Institute for young women, for the term of 75 years. The Institution is of the nature of a charitable organization and its funds do not admit of paying a possibly fictitious price for the site if the land were put up to auction.
5.
I shall be glad to learn your decision by telegraph as the donors of the building fund are very anxious to proceed at once with the work of building.
I have the honour to be,
Sir,
Your most obedient,
humble servant,
Governor,&c..