Peel 3-502. "Earl Granville had had under review the correspondence which has passed respecting the proposed transfer to Canada of the jurisdiction and territorial rights of the Hudson's Bay Company in North America ... It is not creditable to this Country, that any inhabited parts of Her Majesty's dominions should be without a recognized government capable of enforcing the law, and responsible to neighbouring countries for the performance of International obligations." The text proceeds to outline 12 terms.