But there is much to record between the period of purchase and the sale
to Canada.

I here give to the reader some letters of the Duke's relating to these
negotiations generally:--

"DOWNING STREET,
"14 _Augt._ 1862.

"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 1,500,000_l_. 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