Page:United States Statutes at Large Volume 18 Part 2c.djvu/223

 216 PUBLIC TREATIES. His Majesty’s name, and guaranteed by him, it is nevertheless aekin»wledged by these presents, that the said loan was made in reality on account, and for the service, of the United States of North America. and that the capital, amounting, at a moderate valuation, to the sum of ten millions livres tournois, has been paid to the said United States, agreeably to a receipt for the payment of the said sum given by the undersigned Minister of Congress the seventh day of June last. Anrrcnn VI. Engagement or By the convention of t-he said 5th of November, 1781, the King has the F¤¤¤9h Kim; to been pleased to promise and engage to furnish and pay at thegenerul "°¥"‘Y “‘“d ]°““· counter of the States General of the Netherlands, the capital of the said loan, with the interest at four per cent. per annum, without any charge or deduction whatever to the lenders, so that the said capital shall be wholly repaid after the space of five years, the payments to be made in ten equal periods, the first of which to commence the sixth year irom the date of the loan, and afterwards from year to year to the tinal pay- ment of the said sum; but it is in like manner acknowledged by this act that this engagement was entered into by the King at the request of the undersigned Minister of the United States, and on the promise by him made in the name of Congress, and on behalf of the thirteen United States, to cause to be reimbursed and paid at the royal treasury of His Majesty at Paris, the capital, interest, and cost of the said loan, apcorepng to the conditions and terms Gxed by the said convention of t e 5t o November, 1781. Anrrcnn VII. Aim¤¤¤¤¤W>1‘¤· It is accordingly agreed and settled that the sum of ten million livres £)‘g1Q:";;‘g,§:§d*b° tournois, being, by a moderate computation, the principal of the loan of ' nve millions of Holland iiorins above mentioned, shall be reimbursed, and paid in ready money at the royal treasury of His Majesty at Paris, with the interest at four per cent. per annum, in ten equal payments, of one million each, and in ten terms, the ilrst ot which shall be on the 5th of November, 1787, the second, the 5th November, 1788, and so from year to year till the final payment of the said sum of ten millions, the interest lessening in proportion with the partial payments of the capital. But in consequence of the King’s affection for the United States, Bis Majesty has been pleased to charge himself with the expense of commissions and bank for the said loan, of which expenses His Majesty has made a present to the United States, and this their undersigned Minister accepts, with thanks, in the name of Congress, as a new proof of HIS Majesty’s generosity and friendship for the said United States. Anrrcrn VIII. Interest on the With regard to the interest of the said loan durin -. l<>=>·¤ i¤ H<>1l=¤¤<r ceding the nrst term of payment of the capital, as the? ehlgageil to pay it at the general counter of the States General of the Netherlands, at the rate of four per cent. yearly, and every year, counting from the 5th of November, 1781, according to the convention of that day the Minister of Congress acknowledges that the repayment of that is’due to His Majesty by the United States, and he engages in the name of the said United States, to cause payment thereof to ,be made at the same time and at the same rate at the royal treasury of His Majesty · the first year’s interest to be paid the 5th of November next and sd yearly, during the five years preceding the first term for the payment I _ __ of the capital, fixed as above on the 5th of November, 1787. Batincations. _The high contracting_ parties reciprocally bind themselves to the faithful observance of this contract, the ratitications of which shall be gggpppgerl in the space of nine months from this day, or sooner if