Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1818-06-26


ness, he addressed himself TO Sovereigps wor
thy of hearing him.
l wish it were possible, gentlemen, 20 give
you an idea of The difficulties inscparab!e from
such a negotiation uneAamTled, perhaps, in
political annals. IL was not general views.
political combinations, that were 10 be oppoS-
ed, but the claims hich we've Frequently eNag-
gerated, OF multitude of creditors. SOlemnly
called 10 make good their titles, Who from all
parts OF Europe. were pressing their govern
ments Ia abandon none al them, aud even con-
testing with them. 1t | rnay ~ speak. the righi
60 do IL. These obstacles, al mature hltiiertO
unknown ~ public affairs, would have perhaps
been m>urmU"hIaDie. had il moi heen Tor tie
sentiments al eqluiN Which animated The RIIu
lsters dppoiht"d 10 examine and sustain Tie
interests al Ule eopie, aid w!thUiit the Im
paitlaihy 81 tue iusIiiOas mediator that the
confidence OF Ehipi G called To preside al this
important nee citation. 1t is finally Terminated
The new arrangements concluded With all the
States who were palIes 10 thc cOnN tntionS OF
tnr:tih at Nov iSiJ have deimititSiy regulat-
ed toe ttthTu otOt 10 thttr subjects, and the
in' ans OF as Discharge. His majesty has order
ed us To-Day before YOU the results. and is his
intCnton tOcOnulnniCdte To YOU the aciS them
selves a soon a. they shall have iecGi, ed the
IslliicdtousheGe> 10 their being made pub
One OF these treaties concerned the CONT
Mental powers. Cn condition OF the fenunCia-
ton OF the reimbursement uf tle capital of The
interest tor which the government had a de-
maid i'll tItue OF aItICle II of The treat, of
May SO, 1911. aud articles Il and 80 Of the con
vemtion OF Nov.20. lSi5,- the supplementary
rayneht which France is to make towards
d,>cliargng debts due 10 their subjects is
dehnitiNely fixed, at an Interest Of l.. 0i0,0OO
iraEcs.
By particular arrangement with Spain, one
million is specially appropriated III discharge
OF what is due To Thai puwer i'm virtue of The
additional Article Of The treaty concluded with
her III 1871; but as this article is reciprocal,
aud applicable To French creditors OF Spain
as we'll as In Spanish creditors of France it has
been mutually stipulated that tie funds des
tined 10 pay tins poi ton of osr debts shall
remain III deposit uniii The Spanish government
shhH, nPufsnaNce otthc bases * tie principles
ia'd town by treaty, authorize the payment OF
the French claims.
'ephiate convention, concluded with En-.
gland 10 secure The execution oflhe additional
aiucle al the treaty OF the 30th Of Nav 1914
ana tie special convention nf Nov. 20, 1915
fiAeS at millions the interest 10 be inscribed
as defintiNe comploti ton OF tie funds y hich
we've stipulated Ia be created Nv article g. of
the convention, relative to the liquidation
OF the claims OF the subjects Of has Britannia
Majesty.
Thus, gentlemen, the arrangements which
nave just heenconcuded. impose upon us the
obligation of creating stock of 100000
francs interest. His Majesty has instructed
rs 10 present 10 you a law ordering the inscrip-
non OF that amount IN the great buOk
By this means; gentlemen, will he Iinally
closed this abyss of which in 1919 il was mpos-
Sible 10 measure the depth, and which threat.
ened TO swallow up the public fortune. Tn
completely II is grievOus matter 10 tse under
the necessity of presenting so heavy burden,
as something which is to afford MS relief More
.han once III The course OF our efforts we have
been penetrated with profound greet on con.
siderIng what ii burden must still weigh upon
The country, when we should have obtained
every thug which we demanded, but we have
the consolation to think, that we have neglect
eu nothing 10 diminish 1t, aEd II is after being
hat
and that our cOnSciences required us to take
the responsibility oft, that we have determin.
ed TO recommend il to the Kings consent
10 appreciate the result OF our efforts YOU
must look back calmly upon the past, and con-
sider all the consequences OF The disastrous
system which has loaded France with such
eAoi sitant charges.
The mass OF claims amounted TO 1000 mil.
HOES. or This mass, about $50 millions have
been discharged by the funds of guarantee
created December 23, 1915, as Won will see by
pagers which Tie king has ordered us 10 Law
before You. About thirty millions have been
admitted not 10 be Chargeahle TO France
There remained then 1890 millions TO be liqui-
dated. Whatever reduction this sum NAV he
thought susceptible OF by liquidation agree
able 10 the rules laid down by the convention
OF November 70, il is impossible 10 conceive
thai u could have remaincd below the capital
represented by the interest of IL millions which
we demand oil YOU to create.
Rut this is not the emily modification Of the
treaty which we have obtained.
The additional stock which we were bound
to appropriate TO the payment OF foreign claims
was to have been delivered, beginning at the
22d of March, 1916. 1t is easy TO conceive
what an increase OF expense would have re-
suited from this condition for the new inscrip-
tons which would have successfully taken
place till our entire discharge, which after the
manner which has hitherto been followed we
should not have obtained for several wears
The stock TO be created this day will onl,
commence with the present half year, which,
on the 10 millions of stipulated interest, pro-
duces difference in our favor of 80 millions
cash.
Independently of the principal of the debts
which were to be reimbursed in stocks. we
were besides bound TO pay in money the inte-
rest acCruing IN pursuance of our laws since
The origin OF the debts, or in some cases only
since the2Oth OF November. You have created
tor this expense twelve millions. This canse
would have become at length one of the most
burdensome obligations OH the treasury of the
state. From this, France is relieved, as well as
from every other similar obligation. On COLI
d!uon OF delivering 20 each power the portion
OF stocks assigned 10 it, for the payment of lis
subjects, France becomes liberated as ell on
Tie score OF principal as interest from every
debt contracted with the subjects of the other
powers OF Europe, anterior 10 tile 10th of Nov
1915.
In seeking to diminish the mass OF our obi.
cations, We have been obliged to provide, that
there should not result from the mode of doing
1t, any Inconvenience TO tie public credit
Precautions have therefore been taken to pre-.
vent this Inconvenience. The stocks Inscribed
are not 10 be delivered but tw elfth part at a
time, at the expiration Of each month, com.
nencipg with the exchange OF notifications
10 insure the exact distribution o the sums
destined 10 pay these debts, it has been agreed
That the liquidation shall be continued 5y The
powers themselves, with their own subjects.
France will interfere ia the labor no farther
than to furnish all the information Necessary
for facilitating il.
BY the zeal which you will show, gentlemen,
III putting the king IA a state to fulfil the Ell.
gagCments which lie has entered into i'm Tie