US Presidency
1834

After the most deliberate and thorough examination of the whole subject a treaty between the two Governments was concluded and signed at Paris on 1831 07 - 04, by which it was stipulated that the French Government, in order to liberate itself from all the reclamations preferred against it by citizens of the United States for unlawful seizures, captures, sequestrations, confiscations, or destruction of their vessels, cargoes, or other property, engages to pay a sum of 25,000,000 francs to the United States, who shall distribute it among those entitled in the manner and according to the rules it shall determine ; and it was also stipulated on the part of the French Government that this 25,000,000 francs should be paid at Paris, in six annual installments of 4,166,666 francs and 66 centimes each, into the hands of such person or persons as shall be authorized by the Government of the US to receive it , the first installment to be paid at the expiration of one year next following the exchange of the ratifications of this convention and the others at successive intervals of a year, one after another, ' til the whole shall be paid.