After the most deliberate and thorough examination of the whole subject a treaty between the two Governments was concluded and signed at Paris on July 4th, 1831, by which it was stipulated that “the French Government, in order to liberate itself from all the reclamations preferred against it by citizens of the United States for unlawful seizures, captures, sequestrations, confiscations, or destruction of their vessels, cargoes, or other property, engages to pay a sum of 25,000,000 francs to the United States, who shall distribute it among those entitled in the manner and according to the rules it shall determine”; and it was also stipulated on the part of the French Government that this 25,000,000 francs should be paid at Paris, in six annual installments of 4,166,666 francs and 66 centimes each, into the hands of such person or persons “as shall be authorized by the Government of the United States to receive it”, the first installment to be paid “at the expiration of one year next following the exchange of the ratifications of this convention and the others at successive intervals of a year, one after another, ’til the whole shall be paid.  To the amount of each of the said installments shall be added interest at 4% thereupon, as upon the other installments then remaining unpaid, the said interest to be computed from the day of the exchange of the present convention”.

It was also stipulated on the part of the United States, for the purpose of being completely liberated from all the reclamations presented by France on behalf of its citizens, that the sum of 1,500,000 francs should be paid to the Government of France in six annual installments, to be deducted out of the annual sums which France had agreed to pay, interest thereupon being in like manner computed from the day of the exchange of the ratifications.  In addition to this stipulation, important advantages were secured to France by the following article, viz:  The wines of France, from and after the exchange of the ratifications of the present conventions, shall be admitted to consumption in the States of the Union at duties which shall not exceed the following rates by the gallon (such as it is used at present for wines in the United States), to wit:  six cents for red wines in casks; ten cents for white wines in casks, and 22 cents for wines of all sorts in bottles.  The proportions existing between the duties on French wines thus reduced and the general rates of the tariff which went into operation January 1st, 1829, shall be maintained in case the Government of the United States should think proper to diminish those general rates in a new tariff.