Russia desired these words to be
inserted in the treaty. So far as England was concerned, she did not
wish those words to be inserted. It was not the expression of any
desire of hers that they were so; but it seemed to be a matter of
good faith, that as Russia still maintained the original arrangement,
therefore it was right to continue to pay the interest of the debt.
Now, I say with respect to the spirit of the agreement, that I do not
think it would be just to take advantage of the insertion of these
words, and that Russia having, so far as Belgium and Holland are
concerned, faithfully preserved those stipulations, having never
attempted either to disturb this arrangement, and still less refused
her aid to England with regard to any question respecting them, I
do not think, in point of fair dealing, we should be justified in
refusing to pay the interest of the debt. I do think, however, that
according to these words, we might now, as we formerly might have
done, refuse to pay this interest. We might say to Russia: 'You have
permitted these words to be inserted--they were inserted with your
sanction; and, as they were inserted with your sanction, we will take
advantage of these words, and we will refuse any longer to pay the
sum.' That would be conformable to one interpretation of the treaty.
Those whom we consulted, who were the highest authorities that we
could consult with regard to the interpretation of Acts of Parliament
bearing upon treaties--the legal authorities who are usually consulted
on those subjects--have told us, that they think, according to the
spirit of the arrangement, according to the spirit of the convention,
the money ought still to be paid.
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