He
acknowledged the impossibility of immediate payment, the propriety of
an explanatory convention, and said, that they were disposed to allow
a reasonable time. We mentioned the term of five years, including the
present; but that judgments might be allowed immediately, only dividing
the execution into equal and annual parts, so that the last should be
levied by the close of the year 1790. This seemed to be quite agreeable
to him, and to be as short a term as would be insisted on by them.
Proceeding to the sum to be demanded, we agreed that the principal, with
the interest incurring before and after the war, should be paid; but
as to that incurring during the war, we differed from him. He urged its
justice with respect to themselves, who had laid out of the use of their
money during that period. This was his only topic. We opposed to it all
those which circumstances, both public and private, gave rise to.
He appeared to feel their weight, but said the renunciation of this
interest was a bitter pill, and such a one as the merchants here could
not swallow. He wished, that no declaration should be made as to
this article: but we observed, that if we entered into explanatory
declarations of the points unfavorable to us, we should expect, as a
consideration for this, corresponding declarations on the parts in
our favor.
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