B.—No. 3,

No. 13. THE COLONIAL SECRETARY TO THE SUPERINTENDENT, MARLBOROUGH. Colonial Secretary's Office, Auckland, 2lst July, 1864. Sir, — I have to acknowledge the receipt of your Honor's letter, No. 457, of the 29th ultimo, with reference to " The Picton and Blenheim Tram or Railway Loan Bill, 1864," reserved for the assent of the Governor, and enclosed in your letter, No. 456, of the 27th of the same month. After a careful consideration of the subject, the General Government is unable to admit the reasons given by your Honor for its acceptance of a security which had been previously determined to be insufficient. In the first place, it is found from experience that a Goldfield is directly rather a source of expense tlian of revenue. Secondly, if it were othervise, the speculation of the probability, however great, of finding an extension of a Goldfield, cannot be considered in the question of the sufficiency of a security. It, moreover, appears from recent returns that the average price obtained for country land in the Province of Mailbor mgh is under six shillings an acre. Under tliese circumstances, His Excellency the Governor cannot be recommended to assent to the Loan Bill referred to, but Ministers will delay advising His Excellency definitely to withhold his assent to it until a sufficient time has elapsed for enabling a further communication to be received from your Honor on this subject. I have, &c, W. Fox, Colonial Secretary. His Honor the Superintendent, Marlborough. No. 14. MR. W. D. H. BAILLIE TO THE COLONIAL SECRETARY. Superintendent's Office, Picton, 6th August, 1864. Sic, — I have the honor to acknowledge the receipt of your letter of No. and date noted in the margin, relative to the Picton and Blenheim Tram or Railway Loan Bill, and in reply beg to inform you that the matter in question will belaid before the Provincial Council (soon to meet) for their consideration, and to request that it may remain undecided till that time. I have, &c, W. D. H. Baiixie, (Speaker), For Superintendent. The Hon. the Colonial Secretary. No. 15. THE SPEAKER OF THE PROVINCIAL COUNCIL, MARLBOROUGH, TO THE COLONIAL SECRETART. Provincial Council, Marlborough, July Ist, 1864. Sir,— I have the honor, by direction of the Provincial Council, to forward to yon a copy of Resolutions passed by that Body, and request that you will submit the same to the Government for their favourable consideration. I have, &c, W. D. H. Baillie, Speaker. The Hon. the Colonial Secretary. Enclosure in No. 15. Copy of Resolution in favor of Tramway between Picton and Central Districts. Mr. Seymour moved : " That this Council, looking to the limited means of communication between the. Port of Picton and the more Central Districts as materially retarding the prosperity of the

(No. 213.)

(No. 25.)

213. July 21st, 1864

21

PROVINCIAL LOANS.