University of Virginia Library

ARTICLE V.

It is further agreed that the respective Governments will
pay the sums awarded by the said Commissioners under
this Convention and also those which have been or may be
awarded under that of the 11th of Augt. 1802, in manner
following.

The Government of the United States will pay all such
sums not exceeding in all [OMITTED] dollars, which may be

awarded as compensation to citizens of the United States from
his Catholic Majesty, in three equal annual instalments at the
City of Washington, the first instalment to be paid in eighteen
months after the exchange of the ratifications hereof, or in
case they shall not be so paid, they shall bear an interest of
six pCent p annum from the time when they become due
until they are actually discharged, and in case the aggregate
of the said sums should not amount to the said sum of
[OMITTED] dollars the United States will pay to his Catholic Majesty
within one year after the final liquidation of the claims cognizable
by the said Board, at the City of Washington so much
as the said aggregate may fall short of the sum above mentioned;
but on the other hand, if the whole amount of the sums
awarded to Citizens of the United States should exceed the
said sum of [OMITTED] dollars, His Catholic Majesty shall pay
the surplus without deduction, to such of the claimants and
at such times and places as the said Commissioners shall
appoint.

The Government of the United States will also pay without
deduction, at the City of Washington, all such sums as
may be awarded against them by the said Commissioners for
compensation due to Spanish subjects at such times as shall
be appointed in the awards respectively.

This Convention shall be ratified within [OMITTED] days after
the signing thereof, and the ratifications shall be exchanged
within [OMITTED] days after the ratification by the United
States, at the City of Washington.