CO129-139 - Sir MacDonnell - 1869 [8-12] — Page 134

wishes of the War Department relative to future payments of the Military Contribution here,

viz:-

that all such Quarterly payments should be paid through the Commisariat.

I perceive that the Copy of Telegram which was intended to have been sent differs from that which I received, as the latter had in it the word "now" which makes the Telegram somewhat unintelligible, and induced me to state that there was probably an error in it as in point of fact proves to have been the case.

With a view to meeting general liabilities in London, and principally those on account of the Military Contribution, I made on the 8th of last May a very large remittance of £20,000 to the Crown Agents. In doing so I availed myself of the rate of Exchange being so high at the moment as to secure for the Colony a large profit equivalent to a high interest for the year.

The Crown Agents therefore will probably have more money in hand now than they will need for some time, and I think should be directed to invest the greater part of it in Exchequer Bills.

I may add that this new mode

CO 129/177 6-184 August 1869.

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