notes, and the restraining of the issue of warrants to the amount required yearly for the public service. They also alluded to the advantages that would result from the establishment of a substantial bank, issuing notes payable on demand, and affording other facilities for the commercial and agricultural operations of the island. The commissioners concluded their report by expressing their deliberate opinion that whilst a paper circulation, based on adequate and available capital, was, under prudent management, of the utmost benefit to a commercial and agricultural population, and would contribute largely to its prosperity, unconvertible paper was a curse and a deception,—a delusive and fictitious capital, which left no solid foundation to rest upon in any time of reverse and difficulty. They also expressed the hope that on no pretext should a permanent debt be established in the colony, as the evil effects of such a burden would not be confined to the additional charge upon the revenue, but would necessitate the absorption of capital which might be more beneficially employed in commerce, manufactures, or agricultural improvement. The subject of responsible government was discussed at length in the assembly during the session of 1847, and an address to the Queen on the subject was adopted by the house, in which it was represented that the lieutenant-governor or administrator of the colony should be alone responsible to the Queen and imperial parliament for his acts, that the executive council should be deemed the constitutional advisers of the representative of Her Majesty, and that when the acts of the administrator of the government were such as the council could not approve, they should be required to resign. The house recommended that four members of the executive council should be selected from the lower branch of the legislature, such members being held responsible to the house for the acts of the administrator of the government. As the local resources of the assembly did not admit of retiring pensions being provided for the officers who might be affected by the introduction of the system of departmental government, it was suggested that the treasurer, colonial secretary, attorney general, and surveyor general should not be required to resign, but that they should be required to give a constitutional support to the measures of government. In closing the session, the governor intimated his intention of giving the address which had been voted by the house his cordial support.