Meeting Messrs. Rowland and Sicotte at their hotel, in Jermyn Street, on the 2nd December, 1862, and discussing matters all round, they certainly led me, unsuspectingly, to believe they had the same desire to carry the Intercolonial as that entertained by Messrs. Howe and Tilley; and further, that if a road and telegraph project could be carried on the broad lines laid down in so many discussions, their arrangements on both questions would be cordially welcomed and approved by their colleagues. I very soon found out, however, that they were "riding to orders," and those orders, no doubt, being interpreted, were: "Refuse nothing, discuss everything, but do nothing." On the 8th December we met the Canadian delegates at the bank of Messrs. Glyn, in Lombard Street, and we drew up a proposal, which these gentlemen corrected. We adopted their corrections and sent in the paper, as an agreed paper, to the Duke. Two days afterwards, for better assurance, we received the following memorandum:-- "With a view of better enabling the gentlemen whom they met yesterday at 67, Lombard Street, to take immediate measures to form a Company for the object of carrying out the construction of a telegraph line, and of a road to establish frequent and easy communication between Canada and the Pacific, and to facilitate the carrying of mails, passengers, and traffic, the undersigned have the honour to state, that they are of opinion that the Canadian Government will agree to give a guarantee of interest at the rate of four per cent, upon one-third of the sum expended, provided the whole sum does not exceed five hundred thousand pounds, and provided also that the same guarantee of interest will be secured upon the other two-thirds of the expenditure by Imperial or Columbian contributions. "If a Company composed of men of the standing and wealth of those they had the pleasure to meet is formed for the above purposes, under such conditions as will secure the interests of all parties interested, and the accomplishment of the objects they have in view, such an organization will be highly favourable to the settlements of an immense territory, and, if properly administered, may prove to be also of great advantage to the trade of England. "London, 10 Decr. 1862. "L. V. SICOTTE, "W. P. HOWLAND. "To MM. Glyn, Benson, Chapman, Newmarsh, Watkin, &c. &c. &c." A few days afterwards these Canadian delegates started an objection. The Imperial Government merely gave land and did not take one-third of the proposed guarantee, and the following further memorandum was sent to me:--