Among them were two of the
Committee of the old Company, with one of whom, Mr. Colville, he had
had much personal communication, and could speak in the highest terms
as a man of business and good sense. There were, also, seven or eight
most influential and responsible people, and the name of the Governor,
Sir Edmund Head, who had been elected to-day, would be a guarantee of
the intentions of the new Company, for no one would believe that he had
entered into this undertaking for mere speculative purposes, or that
the Company would be conducted solely with a view to screw the last
penny out of this territory. While the council, as practical men of
business, would be bound to promote the prosperity of their
shareholders, he was sure they would be actuated by statesmanlike
views. No negociation with the Colonial Office had taken place; and as
this was a mere ordinary transfer, no leave on their part was
necessary. But arrangements must be entered into with the Colonial
Office for the settlement of the country; and at some future time it
would be, no doubt, his duty to inform their Lordships what these
arrangements were."
The Prospectus, as issued in London, for the new organization, at the
end of June, 1863, contained this paragraph:--
"With the view of providing the means of telegraphic and postal
communication between Canada and British Columbia, across the Company's
territory, and thereby of connecting the Atlantic and Pacific Oceans by
an exclusively British route, negociations have been pending for some
time past between certain parties and Her Majesty's Government and the
representatives of the Government of Canada, and preliminary
arrangements for the accomplishment of these objects have been made
through Her Majesty's Government (subject to the final sanction of the
Colonies), based upon a 5 per cent.
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