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[Page 271]

Having maturely considered the subject of the transfer of the surplus 5700 acres of Land, I hereby to say, that I prefer making an actual purchase of that portion of the Cawdor Estate to holding it in a Quit Rent, and I shall be ready, in receiving the Grant, to execute the requisite securities to pay for the same, in the Manner pointed out by the Commissr of Enqr - that is to say, at the rate of ten shillings (10s/-) per acre. Ten per cent in advance, and the unpaid balance by instalment payable every six months - I feel assured that this arrangement will be agreeable to Your Exly, as it will relieve the Earl Bathurst and you from being further troubled on the subject.

I have the honor to be

Sg John Macarthur

His Exc Sir Thomas Brisbane


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