21%, with interest from date at 5% at $3,178.77. The proportion due by New Granada was also claimed under the convention between that country and the United States, concluded on the 10th of September, 1857, and was presented before both the Commissions organized under that treaty and the succeeding one of the 10th of February, 1864, between the same parties. The history of this presentation in brief is that the Umpire of the Commission, Mr. Upham, under the first treaty awarded to the claimant the sum, principal and interest, of $6,952.60, the Commissioner of New Granada protesting that only certain questions as to the nationality of the parties who had assigned these claims for supplies as aforesaid to Weyman, and as to the original documentary testimony in support of them, were submitted to the decision of the Umpire and no others. A certificate for the amount awarded was then issued, but without the signature of Mr. Hurtado, the Commissioner who made the protest, when the new Commission, under the treaty of 1864, with Sir Frederick Bruce as Umpire, was organized. The question as to the finality of this award and several others came up for decision by that tribunal, and was finally decided by the Umpire who held that these cases would have to be reheard and determined. Accordingly it appears by the journal of proceedings of that Commission that the cases of John D. Danels, the Good Return, Medea, Constancia, and R. W. Gibbs were referred to the Umpire for adjudication, and that on May 15 and 16, 1866, an adverse decision was rendered against the first four mentioned claims, but no action appears to have been then taken in the case of Gibbs. (See Journal, p. 212.) On p. 214, however, of the same journal it appears that this case was stricken from the calendar and docket, protest being made against the action of the board, and case not prosecuted. As we understand this entry in the light of the facts in this case it means that the counsel of Gibbs protested against the jurisdiction of the Commissioner to finally hear and determine his claim, al

though it is not perfectly clear as to how far he took the chances of a favorable determination in his interest upon the preliminary question as to jurisdiction first passed upon by the Umpire. This claim as to the proportion to be paid by Venezuela was also passed upon by the Caracas Commission and an award agreed to by both the Commissioners for the United States and Venezuela was made in favor of the claimant for $4,344.90. The present counsel for Venezuela has admitted its justice, but contended that the award should be expressed in pesos instead of dollars.

Under the circumstances we will allow 28 per cent. of the principal sum of 5,000 pesos, with interest from the 26th of July, 1826, at 5 %, until the 3d of September, 1890, at seventy-five cents to the peso, expressed in gold coin of the United States of America.

Thomas U. Walter, a citizen and an eminent architect and civil engineer of the United States, in the year 1843 entered into a contract with the municipality of La Guayra, the Government of Venezuela lending its concurrence and endorsement, whereby he agreed, not later than the end of the year 1846, to construct a mole and breakwater with appurtenant works, at that port, for 275,000 pesos in coin or its equivalent in currency. The sum of 150,000 pesos was to be and was paid by the completion of the work, which occurred within the time limited. The residue was to be discharged from certain entrance fees or duties received at the custom-house of La Guayra, with interest at the rate of 5 per cent. per annum, payments to begin two years after such completion, to occur quarterly or semi-yearly as said municipality might elect, and to equal 2 per cent. of the then import duties.

Payments and settlements were made by and with the Government from time to time until June 30, 1858, when the balance was reduced to 24,956 pesos.

Theretofore the Government had diverted the revenues so set apart by agreement for the discharge of this debt, and stopped further payment in derogation of Mr. Walter's rights. Since then nothing has been paid, notwithstanding the justice of the claim has never been controverted. In 1865 the claim

was presented to the Venezuelan Government through the American Legation at Caracas. It comes within the purview of the present treaty.

The only question made respecting it before us is as to the computation of interest.

It is claimed on the one hand that interest should be computed with quarterly, or at least, with semi-annual rests, as that mode had been adopted or sanctioned by the Government during the continuance of the payments; and on the other, that only simple interest is allowable. We take the latter view. This was a Venezuelan contract where compound interest was prohibited by law. If the Government chose to allow it in disregard of the law, that does not authorize us to do so; nor are we called upon to review and rectify the action of the Government in that regard.

The allowance will be for 24,956,5 pesos, with 5 per cent. interest from June 30, 1858, to September 2, 1890, inclusive, expressed in gold coin of the United States.

There are two pesos known to commerce, the peso fuerte and the peso sencillo. The former was the old Spanish silver dollar, equal in value, until modern years, the world over, to 100 cents in gold. The latter is meant when the general term is used in transactions without the qualifying word. It has varied somewhat in value, from time to time. According to letters* received by the Commission from the Director of the Mint, and other sources of information, we estimate its present value at 75 cents to the dollar, expressed in gold coin of the United States.

The entry may therefore be for $48,826.40, gold coin of the United States of America, as of September 1, in favor of the claimant.

*May 27, 1890, and June 9. 1890.

The Mechanic, an American schooner, flying the flag of the United States, Taber, master, sailed from Havana, April 17, 1824, with a general cargo, bound for Tampico, Mexico, via Key West. A part of the cargo consisted of goods valued at near $20,000, shipped from the Cuban port by Joaquim Hernandez Soto, "by order and on account and risk of Robert Barry, of Baltimore, an American citizen," and consigned to "Ant. M. Miranda, Pueblo Viejo, Mexico, or his assigns, he or they paying freight on the said goods."

The vessel, with Soto aboard, arrived at Key West in due course, and departed therefrom May 4, with her sea papers in proper form. Two days out she was captured by a privateer, the General Santander, Chase, master, under commission of the Republic of Colombia against Spain, and detained under a charge of carrying enemy's goods, Colombia being then at war with Spain, for independence. Soto, with some eight others, being taken from the vessel, she was sent in charge of a prize crew to a Colombian port for adjudication of the goods seized, before the proper tribunal. In due season libel proceedings were instituted against the cargo before the Colombian prize court at Puerto Cabello, and on the 9th of July, after hearing, the Soto invoice was found to be enemy's property, and condemned as good prize.

May 14, Barry procured insurance on the goods against all loss, including loss by capture, past and prospective, occurring during that trip, in two New York companies, to