Page:United States Statutes at Large Volume 8.djvu/628

 616 APPENDIX. Loan made by lands, on the terms of the obligation passed on the 5th of November F":,“°°’,Q H°l‘ 1781, between his majesty and the said states general, has been made i;iigQda$0j,i;“E,, in his majesty’s name, and guaranteed by him; it is nevertheless ae the use of U. S. knowledged 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. Eagagpment Ama 6. By the convention of the said 5th of November, 1781, the ai *1*** ’°“°l‘ king has been pleased to promise and engage to furnish and pay at the ,,jjifj:,?,,j?p°y general 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 live years, the payments to be made in ten equal periods, the first of which to commence the sixth year from the date of the loan, and afterwards from year to year to the final payment 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, according tail the conditions and terms fixed by the said convention of the 5th of ovember, 1781. Agreement to Am. 7. It is accordingly agreed and settled, that the sum of ten of the loan m - - · · Houma_ of the loan of five millions of Holland dorms abovementroned, shall be reigbursedwanill paid in ready money at the royal treasury of his majesty at urls, wit the interest at four er cent. per annum, in ten e ual a - ments, of one million each, and iii) ten terms, the first of whichqshafl iiié 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, his 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 gow proof of his majesty's generosity and friendship for the said United s tI1GB. 3,,;,,,-,,8,,,,,,},,, Am. 8. With regard to the interest of the said loan durin the five j_0¤rj_i¤Hc11und years preceding the first term of payment of the capital, ashhe king ,:'b;';.l'é’“£';· has engaged to pay it at the general counter of the states general of the 3_5_", Frmm Nether ands, 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 so yearly, during the five years preceding the first term for the pay- ment of the capital, fixed as above on the 5th of November, 1787 The high contracting parties reciprocally bind themselves to the
 * °P¤Y ¤*¤°¤P¤ million livres tournois, being, by a moderate computation, the principal