To the Honourable Lord Stanley, Her Majesty's Secretary of State for the Colonies, etc.…

The Memorial of the Merchants, Bankers, Manufacturers, and others, interested in the Colony of New South Wales.

(on the issue of a proposed modification of land-holding regulations in favour of the squatters, the memo continued, noting such modifications:) … as of paramount importance to maintain the prosperity of the Colony as well as the Woollen Manufactures of Great Britain, inasmuch as since the production of Fine Wool in these Colonies, the Price of that portion of this important article still requires to be imported from the Continent, has been reduced to about one-third.

THAT your Memorialists, therefore, humbly submit to the consideration of your Lordship, the indispensable necessity of giving security to the large Investments of Capital made by the Licensed Graziers in the production of this most important staple of the Colony; and that Leases for twenty-one years be granted to them of the Stations they occupy, beyond the boundaries of location; and that at the termination of such Leases, if the Government wish to obtain possession of the Stations, that an equitable compensation be awarded for the portion of Capital sunk in Buildings, Fences, Wells, and other improvements, and that on the termnination of Leases when such Stations will be to be re-let, that the Lessee shall have the right of pre-emption. That the Government reserve to itself the power, at all times, after due notice (subject to the aforesaid equitable compensation) of selling these Grazing Lands so occupied; the occupation to cease immediately after bona fide sale.