[Danube Works Loan.]

3,375,000 francs, or £135,000 sterling, to be contracted by the European Commission of the Danube;

The Emperor of the French engages, subject to the Ratification of the Legislative Body of France, to Guarantee the Interest and Sinking Fund of the same Loan;

The Queen of the United Kingdom of Great Britain and Ireland engages to recommend to her Parliament to enable her to Guarantee the Interest and Sinking Fund of the same Loan ;*

The King of Italy engages, subject to the approbation of the Italian Parliament, to Guarantee the Interest and Sinking Fund of the same Loan;

The King of Prussia engages, in the name of the North German Confederation, subject to the assent of the Reichstag and of the Federal Council, to Guarantee the Interest and Sinking Fund of the same Loan;

The Emperor of the Ottomans engages to Guarantee the Interest and Sinking Fund of the same Loan;

And it is understood that this Guarantee shall be joint and several between all the High Contracting Parties.

Interest on and Redemption of Loan.

ART. II. The Interest payable on the said Loan shall not be higher than 5 per cent., and the duration of the Redemption shall not exceed a period of 13 years, reckoning from the 1st January, 1871, the date at which the payment of the Loan will have been completed by the lenders.

Reckoning from the first instalment, and until the 1st January, 1871, the joint and several Guarantee shall bear upon the Interest of the sums paid; and during the following years, upon the Annuities comprising both Interest and Repayment of the Capital, and not exceeding the total sum of 360,000 francs, or £14,400 sterling per annum.

Powers to pay deficiency when Net produce of Tolls is insufficient to pay Interest and Sinking Fund.

ART. III. If the net produce of the Tolls levied by the European Commission at the Sulina Mouth, in virtue of Article XVI of the Treaty of Paris (No. 264), after deduction of a sum not exceeding 400,000 francs, or £16,000 sterling, for the expenses of

* An Act of Parliament was passed on the 31st July, 1868 (31 and 32 Vict., cap. 126) to enable Her Majesty to carry this Convention into effect.

[Danube Works Loan.]

maintaining the Works, and of administration, should happen to be insufficient to provide completely for the payment of the Interest and Sinking Fund of the Loan, His Imperial Royal Apostolic Majesty, His Majesty the Emperor of the French, Her Majesty the Queen of the United Kingdom of Great Britain and Ireland, His Majesty the King of Italy, His Majesty the King of Prussia, in the name of the North German Confederation, and His Majesty the Emperor of the Ottomans, upon notice of the amount of the deficit, which shall be given to them one month before it becomes due, either by the European Commission, or by the authority which shall succeed it, or by the parties interested themselves, engage to furnish as an advance, before the expiration of that time, their share in the said Guarantee.

British Government to deposit at Bank of England sum necessary for payment of Interest and Sinking Fund.

ART. IV. In the event contemplated by the preceding Article, and in order to avoid all delay, the British Government engages to deposit at the Bank of England the whole sum necessary for the integral payment of the Interest and Sinking Fund at the precise time of their falling due.

Other Powers to remit their Share.

On their part, the other Contracting Powers engage to remit immediately their said share to the British Government.

Priority of Claims on produce of Tolls on the Danube.

ART. V. Article XIV of the Public Act of the 2nd November, 1865, having stipulated that the Revenue produced by the abovementioned Tolls should be appropriated by Priority and Preference to the repayment of the Loans contracted by the European Commission, and of those which it might contract in future for the completion of the Works of improvement of the Mouths of the Danube, the High Contracting Parties reserve the right to make use for themselves of the privilege of such Right of Priority and Preference, by right of substitution, in the event of their having been obliged to provide from their own funds for the service of the Guaranteed Loan.

Rights of other Creditors.

It is understood, however, that such Right of Priority will be * Altered by Regulation of 8th November, 1870. See Treaty of 13th March, 1871.

[Danube Works Loan.]

exercised by the Powers without prejudice, either to the Rights of the holders of the scrip of this Loan, or to the anterior Rights of the creditors for whose benefit the European Commission has pledged its Revenues for the amount of the partial Loans, amounting to 111,100 ducats, issued on the 12th May, 1866, the 25th April and 4th November, 1867, in order to begin the permanent Works, and repayable at short terms from the produce of the Loan to be contracted.

Joint and Several Guarantee.

ART. VI. As soon as the present Convention shall have become definite for 4 at least of the High Contracting Parties, the joint and several Guarantee shall have its full and entire effect in respect of these latter.

Ratifications.

ART. VII. The present Convention shall be ratified. Each of the High Contracting Powers shall ratify in a single copy.

The Ratifications* shall be deposited in the space of 3 months, or sooner if possible, in the archives of the European Commission of the Danube, to be eventually handed over to the authority which shall succeed it.

In witness whereof, the respective Plenipotentiaries have signed the present Convention, and have affixed thereto the Seal of their Arms.

Done at Galatz, the 30th April, 1868.

(L.S.) J. STOKES.

(L.S.) A. DE KREMER.

(L.S.) A. D'AVRIL.

(L.S.) CASTELLI STEFANO.

(L.S.) H. CTE. DE KEYSERLING.

(L.S.) SULEYMAN.

[An Act of Parliament was passed on the 31st July, 1868 (31 & 32 Vict., cap. 126), to enable Her Majesty to carry the above Convention into effect.]

British Ratification deposited in the Archives of the European Commission of the Danube at Galatz, 1st June, 1868.

[Boundaries.]

No. 411.-FINAL ACT of the Delimitation of the International Frontier of the Pyrenees, between France and Spain. Bayonne, 11th July, 1868.

TABLE.

Preamble. Reference to Treaty of 26th May, 1866.

Annex

First Part.

I. Procès-Verbal of Landmarks between the Department of the PyrénéesOrientales and the Province of Girone.

Section I. Landmarks of Frontier from the Val d'Andorre to the

II. Modification of Articles XVIII and XIX of the Treaty. Pasturage Rights.

III. Complement to the Enumeration of the Free Roads.

IV. Rights between bordering Communes.

V. Regulations for the Seizure of Cattle in accordance with Article XXX of the Treaty of 26th May, 1866.

Second Part.

Regulations relative to the enjoyment of the Waters common to both Countries:

I. Demarcation of the Bed of the Raour.

III. Regulation for the Waters of the River Tort and River Tartarès.
IV. Regulation for the enjoyment of the Waters of the Canal of
Puycerda.

V. Regulation for the Organisation of the International Administrative
Commission of the Canal of Puycerda.

VI. Regulation for the enjoyment of the Waters of the River Vanera. VII. Regulation for the enjoyment of the Waters of the Canal of Angoustrine and Llivia.

VIII. Regulation for the Organisation of the International Administrative Commission of the Canal of Angoustrine and Llivia.

1. Floating Craft prohibited from being permanently stationed in the Waters of the Bidassoa from Chapitelacoarria to Figuier Road. Exceptions.

2. Punishment for infraction of Article I.

3. Ratifications.*

(Translation.+)

Reference to Treaty of 26th May, 1866.

His Majesty the Emperor of the French and Her Majesty the Queen of Spain, wishing to settle in a definitive manner the execution of the Treaty of Limits concluded at Bayonne on the 26th May, 1866 (No. 373), to modify certain dispositions of that Act, to put them in harmony with the view's more clearly laid down by those interested, to complete the enumeration of the free Roads, to perpetuate certain customs, either existing or agreed upon on either side, and to sanction the Regulations of the International Commission of Engineers mentioned in Article XVIII of the Additional Act signed at Bayonne on the 26th May, 1866 (No. 374), have appointed as their Plenipotentiaries, namely:

His Majesty the Emperor of the French, the Sieur Camille Antoine Callier, General of Division, &c. ;

And Her Majesty the Queen of Spain, Don Francisco Maria Marin, Marquis de la Frontera, Minister Plenipotentiary, &c. and Don Manuel de Monteverde y Bethancourt, Marshal of the National Armies, &c.;

Who, after having communicated to each other their respective Full Powers, found to be in good and due form, have drawn up and added in the first part of the present Final Act the 5 following Annexes to the Treaty signed at Bayonne on the 26th May, 1866, and have inserted in the second the Rules for the Regulation of the Waters prepared by the above-mentioned Commission of Engineers.

First Part.

ANNEXES I to V. See Table.

* Ratifications exchanged at Bayonne, 11th January, 1869.
For French version, see "State Papers," vol. lix, p. 430.