for the squadron 20,000 000
Value of stores in the arsenal, including
gunboats, launches, boats,
and materials of all kinds 25,000,000
___________
Public property 254,000 000

Obligations delivered as Portuguese
property under the decree of
H.I.M. of Dec. 11th, 1822; by
that decree confiscated to the
Crown, but by the gracious bounty
of H.I.M. awarded to the squadron,
in his own handwriting, dated
12th February, 1824 170,196 461
___________
Sum total 424,196 461

Together with this statement of account, I forwarded the following offer of compromise, on the part of the squadron, for the payment of one-fourth only:—­

His Imperial Majesty, having—­by decree of the 11th of December, 1822—­commanded the seizure and confiscation of all merchandise in the custom-houses of Brazil belonging to Portuguese subjects—­all merchandise so belonging, or the proceeds thereof, in the hands of merchants—­and all vessels or parts of vessels belonging to such subjects—­I, therefore, in conformity with the said decree, having, on the occasion of the capitulation of Maranham, directed, that all persons having property in their hands of the nature set forth in the said decree, should deliver in an account of the same; and the bills and papers herewith annexed having been given up by their respective holders as Portuguese property of the description set forth, the said bills and papers are now laid before the Court of Vice-Admiralty, in order to the adjudication thereof in conformity to the said decree.

But, whereas, the said Imperial decree could not be enforced at Maranham in the ordinary manner, by means of civil officers acting under the authority of His Imperial Majesty, by reason of the port and province being under the authority and government of Portugal; And whereas, His Imperial Majesty, in consideration of the annexation of the said port and province to the Empire, by the naval means under my command—­and generally of other important services—­was graciously pleased, by virtue of a grant in his own handwriting, bearing date the 12th day of February last, to accord the value of the seizures to the officers and men as a reward for their exertions and services; the said officers and men agree to surrender these bills and the property, as set forth in the annexed list, amounting to 484,196,461, together with all other claims, for the sum of one-fourth, or 106,000, to be paid by the Treasury of Maranham by instalments, within the period of thirty days from the date hereof.

   (Signed) COCHRANE AND MARANHAO.

The following is the Imperial decree alluded to in the preceding letter:—­

   DECREE.