8.—25

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The Agent-General, however, not having received any instructions that his Government wished to make any further representations to the Imperial Government, on receiving from the Bank of England a copy of your letter of 31st March last, took steps without further delay to make the required payment. The Agent-General, while expressing regret that the settlement of the matter was thus delayed, directs me to submit that, taking into consideration the principles involved, and the special circumstances which surrounded it as regards the interests of the colony whose Government he represents, the time taken for its final settlement was not more than its importance deserved. I am further directed to thank you for pointing out that transfers registered before the date of payment of the composition are in strictness liable to stamp duty, and that, in noting that, with the exception of the special occasion referred to in this letter, the stamp duty has always been paid without undue delay, to state that care will be taken that similar despatch will be used in all future transactions. I am, &c, Walter Kennaway, The Secretary, Inland Eevenue. Secretary, Agent-General's Department.

Enclosure 3 in No. 53. Sib,— Somerset House, 10th May, 1894. I am directed by the Board of Inland Revenue to acknowledge receipt of your letter of the 30th ultimo, and to state that, in view of the explanation given of the delay in paying the composition in respect of this particular sum of £610,000 New Zealand 3J-per-cent. Stock, and in view, also, of the engagement that despatch will be used in all future transactions, the Board do not propose to pursue the matter further. Walter Kennaway, Esq., C.M.G. W. W. Coosens, Secretary. Approximate Cost of Paper.—Preparation, not given; printing (1,375 copies), £19 6s.

Authority: Samuel Costall, Government Printer, Wellington.—lB94.

Price 9d.]