At the end of 1763, Sir John Perceval, 2nd Earl of Egmont, and First Lord of the Admiralty, acting for a private syndicate of London elite, suggested, for the new Treaty of Paris (1763) possessions on the Island of St. John, a land settlement scheme encouraging trade and defence, along the lines of a feudal tenancy. This the 'Egmont Scheme' was soundly rejected, strongly opposed by 'The Lords Commissioner for Trade and Plantations', so an alternative scheme offered by 'The Board of Trade' was taken up, late in 1764, and in revision came to be approved by The King's Privy Council of the United Kingdom. However, The Board of Trade Scheme was not acted upon until 1767, with the granting by lottery of the lands of the Island of St. John, to individuals having claims upon the government.