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of the undertaking, upon the accounts produced and liquidated conformably to the statutes of the Company. And the Agent of the Republic appointed for that purpose shall have liberty to take cognizance of the said accounts as well as of the cost of the undertaking and of the books and documents relating thereto, and to make observations and institute claims on the same footing as any shareholder, but without authority to intermeddle with the management of the affairs of the undertaking. The payment of the said percentage is to take place annually at the place appointed by the Executive Power.

XXXII. At the expiration of the privilege the canal, wharves, warehouses of deposit, and all the buildings and works annexed, which the contractors may have constructed at both the extremities and along the course of the canal, either for the purpose of Custom-Houses or any other connected with the service and administration of the canal, shall become the property of the Republic, and shall be made over to the same, together with the auxiliary railroad and all its dependencies, should it have been constructed by the Company or by other parties in its name. To the above end, after the works are concluded, the Company shall, at its own expense, and with the aid of the Government agents, draw up a circumstantial inventory of the canal and of the buildings and works annexed and of all other property which is to be made over to the Republic. The contractors shall moreover make out similar statements descriptive of all subsequent works of the same kind which may be executed during the time they remain in possession of the privilege.

XXXIII. An exact and authentic duplicate copy of the documents mentioned in the preceding Article, shall be delivered by the contractors to the Secretary of State having charge of the department of public works, in order to be deposited in the public archives for the purposes that may occur during the course of the privilege and at the time of its expiration.

XXXIV. A year previous to the expiration of the privilege, the contractors, having previously notified the Government Agents appointed for that purpose, shall make a valuation of the works which on the conclusion of the privilege are to be made over to the Government; and of these valuations as also of the descriptive statements of the works made at the same time as the valuation, a duplicate copy shall be deposited in such office as the Executive Power shall direct, in order to be brought forward at the time of transferring the canal and its dependencies to the Government.

XXXV. The Company shall insure the fulfilment of the obligations which it undertakes for this privilege by the sum of 24,0007. sterling, which it shall place at the disposal of the Government of

the Republic in Bogotá, London, or New York, as the Executive Power may determine, within the period stipulated in Article XLII. The above sum is to be returned to the Company without any interest whatever as soon as the works of the canal are completed and opened to the public.

XXXVI. The Company shall not make over this privilege, by sale or in any other manner, to any Government or foreign nation; and neither the Company nor any of its members shall in any case apply to any foreign Power to interfere in the decision of any difference that may occur respecting this privilege, or the works that are to be constructed in fulfilment of it; or regarding the nonfulfilment of the stipulated conditions, as all such differences must in every case be decided by the judicial authorities, and agreeably to the laws of New Granada; and in no case shall any privilege, immunity, or exemption be alleged that is not expressly recognized by the present privilege.

XXXVII. The Company shall reserve a tenth part of the shares for sale to such Granadian capitalists as may desire to take a part in the undertaking, and shall not dispose of the same to other parties until 6 months after the concession of the privilege.

XXXVIII. This privilege shall become null and void in the following cases: 1st. Should the Company to whom it is granted not deposit, to the satisfaction of the Government of the Republic, within the term fixed by Article XLI, the sum by which it is to insure the construction of the works and the fulfilment of the other obligations which it has contracted; 2nd. If, within the first 24 months of the 10 years fixed for constructing the canal, the works be not commenced; 3rd. If, at the expiration of the term fixed by Article V, for the construction of the canal, the works should not be completed; should the extension have been granted, as mentioned in the said Article, then the privilege becomes void if the works be not completed at its termination; 4th. Should the contracting Company dispose of the privilege to any Government or foreign nation; and 5th. Should the Company cooperate in any act of rebellion against the Government of the Republic with the view of withdrawing from its dominion the territory in which the canal is situated.

XXXIX. In the first of the cases of the privilege becoming void, as stipulated in Article XXXVIII, the declaration that it is so, shall be made by the Government immediately upon the term for depositing the money for insuring the fulfilment of the contract having expired, without the deposit being made. In the second case, mentioned in the said Article, the Executive Power shall likewise make the declaration that the privilege is void, should it be authentically proved that none of the works have been commenced within

the term specified in the said Article; but should some of the works be done so as to leave a doubt whether or not the Company has come under the second case of nullity of the privilege, then the Supreme Court of Justice shall decide on the matter.

XL. In the 3rd, 4th, and 5th cases of Article XXXVIII, the Supreme Court of Justice of the Republic, or the superior tribunal which may replace it in case of its being suppressed, shall decide whether the privilege has become null and void.

XLI. In whichsoever of the cases the nullity of the privilege is declared, the Company shall forfeit in favour of the Republic: 1st. The sum of money with which it is to insure the execution of the undertaking agreeably to Article XXXV; 2nd. All the public lands granted to the Company, which shall again come under the dominion of the Republic, in the state in which they may be; 3rd. All the works, buildings, and improvements made by the Company in the state in which they may be, and also all the materials prepared for executing any work for the canal or its appurtenances.

The Republic shall make no indemnification whatever for the buildings, works, improvements, and materials which may be forfeited by the Company agreeably to this Article.

XLII. The present privilege shall be adjudged to Edward Cullen, Charles Fox, John Henderson, and Thomas Brassey, and the Company which they may form for the purpose, on the day on which they give the security required by Article XXXV. For giving the said security the term of 12 months is hereby granted to them, from the day of the publishing of this Decree.

XLIII. If at the expiration of the 12 months granted by the preceding Article for giving the security stipulated in Article XXXV, the security should not have been given, and the privilege should consequently become void, as well as in any of the cases specified in Article XXXVIII, the Executive Power is hereby authorized to grant the said privilege to any other person or Company, on the same conditions or on the best that can be obtained.

XLIV. In case this privilege should become null and void, the Executive Power shall put it up to public competition, in order that any person or Company that may desire to offer better conditions for the privilege may obtain the necessary information and prepare their proposals. The improved conditions can only apply to one or more of the following points: 1st. A greater proportional share for the Republic of the profits on the undertaking; 2nd. A shorter period for the duration of the privilege; 3rd. A larger amount as guarantee for the fulfilment of the conditions of the privilege. But no improved condition will be admissible for the Republic's share of the profits, should it be of less than one per cent. on the profits of the undertaking, nor for the time of the privilege if of less than 5

years, nor for the increased deposit as guarantee if of less than 6,0007. sterling.

XLV. In order to decide on the different improvements which may be offered, the following will be considered as equivalent: one per cent. on the profits, 5 years less in the term of the privilege and 10,000l. more in the sum deposited as guarantee.

XLVI. Any person proposing to offer better conditions for this privilege must present the signature or signatures of individuals, houses, or companies of respectability, capable of answering for a sum at least equal to that expressed in Article XXXV, and of engaging to answer for the fulfilment of the offer. The responsibility of these sureties ceases upon the deposit of the sum required by the said Article XXXV, or on the proposal being declared

inadmissible.

XLVII. On the day that the Executive Government shall have appointed, with 10 months previous notice, these proposals shall be presented, sealed, to the Secretary of Foreign Affairs and Internal Improvements, and that functionary shall open and read them in presence of the persons making the proposals, or of their attorneys, who may wish to be present at the opening.

XLVIII. In the course of the two following days, the Executive Power shall determine which of the admissible proposals is preferable, and his resolution declaring the preference, or accepting the proposal, shall be published in the Official Gazette, within three days. Should no proposal have been made, or should those presented be found inadmissible, the Executive Power shall declare such to be the case, and this declaration shall be published within the term specified in this Article.

XLIX. This privilege shall be of no effect if the persons that have applied, or that may hereafter apply for it, do not obtain the consent of the Panamá Railway Company, as it is not intended by the present Decree to alter the contract made with the said Company, nor to deprive it of any of the rights granted to it.

Given at Bogotá, the 29th of May, 1852.

VICENTE LOMBANA, President of the Senate.
JUSTO AROSEMENA, President of the Chamber of
Representatives.

Let it be executed and published.

Bogotá, June 1, 1852.

JOSE HILARIO LOPEZ, President of the Republic.

JOSE MARIA PLATA, Secretary for Foreign Affairs.

TRAITE d'Amitié, de Commerce, et de Navigation, entre les Etats de l'Association de Douanes et de Commerce Allemande, les Grand-Duchés de Mecklembourg-Schwerin et de Mecklembourg-Strélitz et les Villes Hanséatiques de Lubeck, Bréme et Hambourg d'une part, et la Chine d'autre part.* —Signé à Tientsin, le 2 Septembre, 1861.

[Ratifications échangées à Shanghai, le 14 Janvier, 1863.]

SA Majesté le Roi de Prusse, agissant tant en Son nom qu'au nom des autres membres de l'Association de Douanes et de commerce Allemande, savoir:

La Couronne de Bavière, la Couronne de Saxe, la Couronne de Hanovre, la Couronne de Wurttemberg, le Grand-Duché de Bade, l'Electorat de Hesse, le Grand-Duché de Hesse, le Duché de Brunswik, le Grand-Duché d'Oldenbourg, le Grand-Duché de Luxembourg, le Grand-Duché de Saxe, les Duchés de SaxeMeiningen, de Saxe-Altenbourg et de Saxe-Cobourg et Gotha, le Duché de Nassau, les Principautés de Waldeck et Pyrmont, les Duchés d'Anhalt-Dessau-Coethen et d'Anhalt-Bernbourg, la Principauté de Lippe, les Principautés de Schwarzbourg-Rudolstadt et Schwarzbourg-Sondershausen, de Reuss, ligne aînée et de Reuss, ligne cadette, la ville libre de Francfort, le Grand-Baillage de Meisenheim du Landgraviat de Hesse et le Baillage de Hombourg du Landgraviat de Hesse, ainsi que les Grand-Duchés de Mecklembourg-Schwerin et de Mecklembourg-Strélitz et les Sénats des villes Hanséatiques de Lubeck, Brême et Hambourg d'une part; et

Sa Majesté l'Empereur de Chine d'autre part, sincèrement désireux d'établir des rapports d'amitié entre les susdits Etats et la Chine, ont voulu les consolider par un Traité d'Amitié, de Commerce et de Navigation, réciproquement avantageux et utile aux sujets des Hautes Puissances Contractantes; à cet effet ont désigné pour Leurs Plénipotentiaires :

Sa Majesté le Roi de Prusse, Son Chambellan le Sieur Fréderic Albert Comte d'Eulenburg, Envoyé Extraordinaire et Ministre Plénipotentiaire, Chevalier de l'Ordre de l'Aigle Rouge de la troisième classe avec le noeud, Chevalier de l'Ordre de St. Jean de Jérusalem, &c.; et

Sa Majesté l'Empereur de Chine Tchong-luen Membre Assistant du Ministère des Affaires Etrangères de Pékin, Directeur-Général des Greniers Publics et Commissaire Impérial; Tchong-Heou, SousSecrétaire d'Etat Honoraire, Surintendant des 3 Ports du Nord et Commissaire Impérial adjoint, lesquels, après avoir échangé leurs pleins pouvoirs et les ayant trouvés en bonne et due forme, ont arrêtés les Articles suivants.

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