A.—No. la,

34

DESPATCHES EROM THE SECRETARY OE STATE

specifying the conditions upon which the permission of Her Majesty's Government will be granted to this Company to land a cable and acquire suitable accommodation at Singapore. I have now to state that the British Australian Telegraph Company, Limited, assents to the conditions therein imposed, and I beg to convey to your Lordship the thanks of the Board for tho assistance you propose to give to their enterprise by communications with the Governors of the Straits Settlements and the Australian Colonies. I have, &c, Monck, Chairman of the British Australian The Eight Hon. Earl Granville, K.G. Telegraph Company, Limited.

No. 54. Copy of a DESPATCH from the Right Hon. Earl Granville, E.G., to Governor Sir G. E. Bowen, G.C.M.G. (No. 49.) Sir,— Downing Street, 20th May, 1870. I sent on the 14th instant, at 10.30 p.m., a Telegraphic Despatch to you in the following Avords : — " The Delegates have asked for a Loan of £1,000,000 for Emigration and " Public Works, the Imperial Government taking NeAV Zealand Treasury Bills at " 3-| per cent., to be issued each year as money wanted. " Bills to be redeemed in ten years by Government loan on the Colony's OAvn " credit. Her Majesty's Government offer to the Delegates to guarantee, under " proper conditions as to repayment, which will be a subject of further arrange- " ment, £500,000, to be raised at such rates, and in such proportions as may " be agreed upon. " If terms were settled on this basis, the question of amount would be of less " importance. I believe the Commissioners will accept this." I have, &c, EBEDERIC BOGERS Governor Sir G. E. Bowen, G.C.M.G. (for Earl Granville).

No. 55. Copy of a DESPATCH from the Bight Hon. Earl Granville, E.G., to Governor Sir G. E. Boaven, G.C.M.G. (No. 53.) Sir, — Downing Street, 20th May, 1870. You will have learned from my telegram of the 14th instant, that Her Majesty's Government had offered to the Delegates from Ncav Zealand, to guarantee a Loan to the Colony of £500,000 : and a telegram of the same date from the Delegates will have informed your Government that Her Majesty's Government had consented to extend the guarantee to one million, to be expended on Emigration and Public Works. I now transmit to you a copy of the correspondence which has passed with the Delegates, by which you will be apprised of the intention of the Government to submit a Bill for this purpose to Parliament, on conditions to be hereafter arranged as to repayment of the Loan, and with proper assurances that it will be applied to the objects for which it is raised. I trust that the decision of Her Majesty's Government to waive the objections which attached to the guarantee of Colonial Loans, will be received by the Colonists of New Zealand as a proof of the deep interest which they feel in the welfare and prosperity of this great possession of the Crown. I have, &c, Governor Sir G. E. Bowen, G.C.M.G. GRANVILLE.

Enclosure 1 in No. 55. The New Zealand Commissionees to the Eight Hon. the Earl Geantille. My Loed,— London, 9th May, 1870. We received on Saturday a telegram, via San Francisco, informing us that the General Assembly of New Zealand would meet early in June, and as to-morrow is the latest day we can feel