Page:United States Statutes at Large Volume 18 Part 2c.djvu/225

 218 Punmo cmnyrins. Anrrcm I. Amoun t and The a ment of the six millions livres, French money, above ment<=r¤¤¤ ¤f 1¤¤¤· tioned, ghgll be made from the funds of the royal treasury in proportions of five hundred thousand livres during each of the twelve months of the present year, under the acknowledgments of the Minister of thesaid United States, promising in the name of Congress and in_ behalf of the thirteen United States, to reimburse and refund the said six millions livres, in ready money, at His Majesty’s royal treasury, at the house of the sieur grand banker at Paris, with_ interest at five per cent. per annum at periods hereafter stipulated in the third and fourth articles. The advances which His Majesty has been pleased to allow to be made on account of the six millions in question shall be deducted in the pay- ments of the iirst month of this year. ‘ Anrrcrm II. R epay ment or For better understanding the fixing of periods for the reimbursement f¤rr¤¤r1¤¤¤¤· of the six millions at the royal treasury, and to prevent all ambiguity on this head it has been found proper to recapitulate here the amount of the preceding aids granted by the King to the United States,_and to distinguish them according to their different classes. The first is composed of funds lent successively by His Majesty, amounting in the whole to the sum of eighteen millions livres, reimbursable in specie at the`royal treasury in twelve equal portions of a million/tive hundred thousand livres each, besides the interest, and in twelve years, to commence from the third year after the date of the peace the interest, beginning to reckon at the date of the peace, to he discharged annually, shall diminish in propopfion to the reimbursement of the capital, the last payment of which s all.expire in the year 1798. The second class comprehends the loan of five_millions Dutch florins, amounting, by a moderate valuation, to ten millions livres tournois, the said loan made in Holland in 1781, for the service of the United States of North America, under the engagement of the King to refund the capital, with interest at four per cent. per annum, at the general counter of the States General of the United Provinces of the Netherlands, in ten equal portions, reckoning from the sixth year of the date of the said loan, and under the like engagement on the part of the Minister of Congress, and in behalf of the thirteen United States, to reimburse the ten millions of said loan in ready money at the royal treasury, with interest at four per cent. per annum, in ten equal portions of a million each, and in ten periods from year to year; the first of which shall take place in the month of November, 1787, and the last in the same month, 1796. The whole conformable to the conditions expressed in the contract of the 16th July, 1782. In the third class are comprehended the aids and subsidies furnished to the Congressof the United States, under the title of gratuitous assistance, from the pure generosity of the King, three millions of which were granted before the treaty of February, 1778, and six millions in 1781; which aids and subsidies amount in the whole to nine millions livres tournois. His Majesty here confirms, in case of need, the gratuitous gift to the Congress of the said thirteen United States. Anrionn III. Repaym c nt of The new loan of six millions livres tournois, the subject of the present “°‘Y °°”· contract, shall be refunded and reimbursed in ready money at His Majesty’s royal treasury, in six equal portions of a million each, with interest at five per cent. perannum, and in six periods, the first of which shall take place in the year 1797, and so on from year to year, until 1802, when the last reimbursement shall be completed.