Executive Order 999
Pursuant to the authority of the joint resolution of Congress to provide for the remission of a portion of the Chinese indemnity, approved May 25, 1908, I hereby consent to a modification of the bond for $24,440,778.81, dated December 15, 1906, received from China pursuant to the protocol of September 7, 1901, for indemnity against losses and expenses incurred by reason of the so-called Boxer disturbances in China during the year 1900, so that the total payment to be made by China under the said bond shall be limited to the sum of $13,655,492.69 and interest at the stipulated rate of 4 per cent per annum, and that the remainder of the indemnity to which the United States is entitled under the said protocol and bond be remitted as an act of friendship, such payment and remission to be made at the time and in the manner hereinafter provided, which I deem to be just, that is to say:
In accordance with the plan of amortization annexed to the original indemnity bond, the amounts payable hereafter by China to the United States would be as set forth in the schedule annexed hereto marked "Schedule A," and identified by the signature of the Secretary of State.
I have caused an account to be made by the Treasury Department in which the payments already made under the original bond are credited as against a debt of $13,655,492.69 with interest at 4 per cent per annum beginning July 1, 1901, in lieu of the original sum specified in the bond and I find that after such credits, and including in such credits the sum of $85,223.04, which it is assumed will be paid on the 1st day of January, 1909, there will remain on that day to be paid and retained by the United States in satisfaction of the sum of $13,655,492.69 and interest thereon, the sum of $9,644,367.60.
It also appears by the said new account that the payment to and retention by the United States of the sums specified in the paper hereto attached, marked "Schedule B" and identified by the signature of the Secretary of State, will satisfy the principal and interest of the said sum of $9,044,367.60 by the end of the period contemplated in the original plan of amortization. And I direct that after the said 1st day of January, 1909, from the several payments made under the said bond of December 15, 1906, in accordance with Schedule A, there be retained and paid into the Treasury of the United States only the sums specified in Schedule B; and that the remainder of the said several payments so made by China in accordance with Schedule A over and above the sums specified by Schedule B be returned by indorsing back the drafts therefor, or otherwise, and thus remitted to the Government of China. The sums to be so returned in each year will be as stated in the paper hereto attached marked "Schedule C," identified by the signature of the Secretary of State.
The provision contained in the original bond for an adjustment of interest because payments are made monthly instead of semiannually will continue to be applicable to the payments of the sums specified in Schedule B.
In witness whereof, I have caused the seal of the United States to be hereunto affixed.
Done at Washington, this twenty-eighth day of December, one thousand nine hundred and eight.
- Elihu Root,
- Secretary of State.
|Years.||Amount due yearly, payable half yearly.||Monthly installments.||Years.||Amount due yearly, payable half yearly.||Monthly installments.|
Schedule A referred to in the Executive order of the President, dated December 28, 1908.
Secretary of State.
|Years.||Principal to be retained.||Interest to be retained.||Total payments to be retained.||Years.||Principal to be retained.||Interest to be retained.||Total payments to be retained.|
Schedule B referred to in the Executive order of the President, dated December 28, 1908.
Secretary of State.
|Years.||Amount remitted yearly.||Years.||Amount remitted yearly.||Years.||Amount remitted yearly.|
Schedule C, referred to in the Executive order of the President dated December 28, 1908.
Secretary of State.