CO885-(10-11) — Page 202

828,

PUBLIC RECORD OFFICE

Reference :-

PERC.O. 885

Limi

PUBLIC RECORD OFFICE, LONDON

ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- | COPYRIGHT PHOTOGRAPH-NOT TO

SIR,

No. 158.

(ST. VINCENT.)

TREASURY SOLICITOR to TREASURY.

WRIGHT'S SECURITY 88 TREASURER of St. Vincent.

Treasury, January 17, 1863.

Mr Lorda have been pleased to refer to me the enclosed letter from the Colonial Office with the accompanying papers, by which it appears that the sufficiency of the security of the Guarantee Association given for the performance of his duties by Mr. Wright, as Treasurer of St. Vincent, is disputed by the Attorney General of the Island, and that Mr. Wright was in consequence thereof compelled to give security in the Island before he was allowed to enter upon the functions of his office.

The objections are twofold: first, that the Bond of the Association has not been registered according to the provisions of a local Act of the Island, published 14th May 1862; and secondly, because the Bond is considered to be binding on the Association only for a year, and, consequently, to be insufficient for the objects intended.

In answer to these objections I beg to

Report

That the local Act in question referred to appears to me to have no bearing on the caso in question.

The Act relates only to an institution styled "The Guarantee Association of London."

I know not whether such an institution exists, but it is not a proper description of the British Guarantee Association," a title given to the society whose Bond is in question by Act of Parliament, and, consequently, I conceive that the Bond is not within the directions of the local Act, and need not be registered as is therein provided.

Secondly, the Bond does not appear to me to be objectionable in principle on the grounds stated although its obligations may be put an end to at the close of a year, provision is amply made for enabling the Government to obtain a fresh security for the due performance of his duty by the officer for whom the Bond has been accepted. Mr. Wright's bond is in the usual form accepted by the Government for all account- able officers, and the sufficiency of such bonds has been fully considered by the Treasury, and been sanctioned by the Law Officers of the Crown.

A question may possibly arise whether the Guarantee Association is strictly warranted under the provisions of its Act in giving bonds for Colonial Treasurers and certain other officers.

That question it will be my duty to consider and report upon, with reference to a proposal submitted to the Treasury for the transfer of the obligations of the Guarantee Association to an institution styled "The European Assurance Society."

But I apprehend that the former Association would not be allowed in law to repudiate their liabilities under Mr. Wright's bond, and I have been informed by the European Assurance Society that, under an agreement between them and the Guarantee Association, they hold themselves liable for all the guarantee obligations of that Association, including that of Mr. Wright, and under all the circumstances of the case I would submit that the Bond until determined is a sufficient security for the due performance of Mr. Wright's duties as Treasurer of St. Vincent, and also that the Secretary of State for the Colonies may be informed thereof, and that he be requested to direct the Governor of St. Vincent to relieve Mr. Wright for the security which he has been compelled to give in the Colony at a heavy expense, and permit him to continue to discharge the functions of his office without requiring any further Becurity than the Bond of the Association, which should be retained in this country.

The Secretary of the Treasury.

I am, &c. (Signed) H. R. REYNOLDS.

0 16974-168, 25.-2/86.

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