H.
Pelly, Governor of the Company, thus expressed himself in a letter to
Lord Grey:--"As far as I am concerned, (and I think the Company will
concur, if any great national benefit would be expected from it,) I
would be willing to relinquish the whole of the territory held under the
charter on similar terms to those which it is proposed the East India
Company shall receive on the expiration of their charter,--namely,
securing the proprietors an interest on their capital of ten per cent."
At the adjournment of the Canadian Parliament and the retirement of the
Derby Ministry, in the early part of 1859, the position and prospects of
English colonization in Northwest America were as follows:--
1. Vancouver's Island and British Columbia had passed from the
occupation of the Hudson's Bay Company into an efficient colonial
organization. The gold-fields of the interior had been ascertained to
equal in productiveness, and greatly to exceed in extent, those of
California. The prospect for agriculture was no less favorable,--while
the commercial importance of Vancouver and the harbors of Puget's Sound
is unquestionable.
2.
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