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 colonial debt, to be repaid at such times and in such amounts as may be agreed upon.

"8. A land tax, or a tax upon rent, to be levied from the commencement of the colony, for the purpose of raising a fund for repaying the company, in the first instance, the sum which it shall have advanced for the purposes of the Government, and afterwards to meet the Government expenditure.

"9. Perfect freedom of trade."

These papers were duly forwarded to Mr. E. G. Stanley, successor to Lord Goderich in the Colonial Department. Against the respective numbers in this sketch Mr. Stanley wrote:—

2. How to be accomplished?

3. Not sufficiently explicit.

8. Land Tax very difficult of collection.

9. Cannot be granted; the colony must stand on the same footing as other colonies in that part of the world.

On July 5th, a meeting of committee was held at the office of Messrs. Gouger & Co., of Leadenhall Street, to consider this paper and the remarks upon it, and to send in a more detailed plan to Government. There were present Mr. Whitmore, M.P., in the chair, Messrs. J. Montefiore, Mangles, Samuel Mills, E. Heathfield, Col. Torrens, A. Borradaile, R. D. Hanson, Robert Gouger, and Captain Gowan.

After much discussion, the following letter and accompanying papers were sent in to the Colonial Office through Mr. Whitmore.

"I have the honour to enclose a series of propositions (No. 1), which are submitted by way of