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observance of these rules, but merely to apprise their citizens of the nature of their obligations, arising under treaties or under the general law of nations, by which they would be subjected to such penalties as custom had established. These penalties, the New York merchants asserted, could only be rightfully inflicted by regular tribunals, established by the belligerent nations in such fashion that they should not exceed the right of condemning the property attempted to be illegally concealed or transported: they would, accordingly, cheerfully submit to a law for restraining the armament of private merchantmen, except in conformity with the following principles:

1st. That the vessels should wholly belong to citizens of the United States.

2nd. That the cargoes laden on board such vessels shall wholly belong to citizens of the United States, and except necessary munitions and merchandise to and from ports eastward of the Cape of Good Hope, and westward of Cape Horn, shall in no degree consist of articles declared contraband of war, either by the general law of nations, or by treaties with the United States.

3rd. That the owners of armed vessels be required to give bonds for a reasonable amount that they shall not sell or charter such vessels in the dominions of any foreign state or nation, in America or elsewhere, to the subjects of the belligerent parties.

4th. That the masters and chief officers of all armed vessels be required to give bonds that they will not enter a blockaded port, and that they will not