"MY DEAR SIR,
"I am glad to tell you that since I received your letter of Saturday
last, the Hudson's Bay Company has replied to my communication, and has
promised to grant land to a company formed under such auspices
as those with whom I placed them in communication. The question now
is - what breadth of land they will give, for of course they
propose to include the whole length of the line through their
territory. A copy of the reply shall be sent to Mr. Baring, and I hope
you and he will be able to bring this concession to some practical
issue.
"I was quite aware of the willingness of the Company to sell
their whole rights for some such sum as 1,500,000l. I
ascertained the fact two months ago, and alluded to it in the House of
Lords in my reply to a motion by Lord Donoughmore. I cannot, however,
view the proposal in so favourable a light as you do. There would be no
immediate or direct return to show for this large outlay, for of
course the trade monopoly must cease, and the sale of land would for
some time bring in little or nothing - certainly not enough to pay for
the government of the country.
"I do not think Canada can, or if she can ought to, take
any large share in such a payment. Some of her politicians would no
doubt support the proposal with views of their own, - but it would be a
serious, and for some time unremunerative, addition to their very
embarrassing debt.
