24 FEBRUARY 1872, Page 2

As for Mr. Morse's ingenious, but very easily refuted argument

that the Board of Assessors provided for under the Tenth Article of the Treaty, to meet at Washington, New York, or Boston, and there estimate the money value of the claims more accurately, would have had nothing to do which could have occupied them two years and a half, unless indirect claims had been included, we reply, first, that the Treaty evidently thinks the Commission might well transact its business in a single year, and only extends the time if more should prove to be needful; and next, that to take and test evidence bearing on the real values of the ships destroyed by the cruisers and their cargoes, evidence which would, of course, be carefully sifted by our Government,—the values being roughly estimated as amounting to near three millions sterling,—might very well occupy an even longer period. The Commission which assembled under the Convention of 1796 took more than a year to give their award on American claims finally determined at little above one million sterling (6,000,000 dollars).