By the act of Congress of the 13th July, 1832, it was
made the duty of the Secretary of the Treasury to cause the several
installments, with the interest thereon, to be received from the French
Government and transferred to the United States in such manner as he may
deem best; and by the same act of Congress the stipulations on the part
of the United States in the convention were in all respects fulfilled.
Not doubting that a treaty thus made and ratified by the two
Governments, and faithfully executed by the United States, would be
promptly complied with by the other party, and desiring to avoid the
risk and expense of intermediate agencies, the Secretary of the Treasury
deemed it advisable to receive and transfer the first installment by
means of a draft upon the French minister of finance. A draft for this
purpose was accordingly drawn in favor of the cashier of the Bank of the
United States for the amount accruing to the United States out of the
first installment, and the interest payable with it. This bill was not
drawn at Washington until five days after the installment was payable
at Paris, and was accompanied by a special authority from the President
authorizing the cashier or his assigns to receive the amount.
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