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Convention between Great Britain and Morocco relative to a Loan to be raised in London by Morocco, signed at Tangier, 24 October 1861


[Ratification exchanged at Tangier, December 20,1861.]

HIS Majesty the Emperor of Morocco being desirous of raising a loan of 426,000, in London, to enable him to meet his engagements with Her Catholic Majesty, and having requested the good offices of Her Majesty the Queen of the United Kingdom of Great Britain and Ireland, with a view to facilitate that object, and Her Britannic Majesty having agreed to the request of His Imperial Majesty, their Majesties have resolved to conclude a Convention on the subject, and have named as their Plenipotentiaries, that is to say:

Her Majesty the Queen of the United Kingdom of Great Britain and Ireland, John Hay Drummond Hay, Esquire, Companion of the Most Honourable Order of the Bath, Her Minister Resident at the Court of His Majesty the Sultan of Morocco;

And his Majesty the Sultan of Morocco, his officer the learned Fakee Seed Hadj Abderrahman el Ajee;

Who, after having communicated to each other their respective full powers, have agreed upon and concluded the following Articles:

Art. I. His Majesty the Emperor of Morocco engages that from and after the ratification of the present convention there shall be paid over to a Commissioner named by Her Britannic Majesty 50 per cent. of the Customs duties at all the ports of the Empire of Morocco.

Her Britannic Majesty, on her part, engages that 6 weeks before the period at which the half-yearly charge on the loan of 426,000, which the Emperor of Morocco is about to raise, shall become due, she will transfer to the agent or agents of the contractors for that Loan, the sums so to be received by the commissioner of Her Majesty, or so much thereof as may be sufficient to pay the interest and sinking fund on the said Loan, the amount of such sums not exceeding in the aggregate 15 per cent. on the above-mentioned sum of 426,000. But Her Britannic Majesty shall not be liable for the payment of more than she receives.

In case the sums received should be more than sufficient for such half-yearly payments, the surplus all be repaid by the British Commissioner to the officers of the Emperor of Morocco, duly authorized to receive the same.

II. When, by means of the payment provided for in the preceding Article, the whole of the loan of 426,000 shall have been repaid, together with the interest due thereon, the Commissioner of Her Britannic Majesty shall cease to receive the 50 per cent. of the Custom duties at the ports above mentioned, and shall repay to the said officers of the Emperor of Morocco any balance that may be remaining in his hands.

III. The present convention shall be ratified by Her Majesty the Queen of Great Britain and Ireland, and by His Majesty the Emperor of Morocco, and the ratification shall be exchanged at Tangier as soon a possible within 40 days from the date hereof.

In witness whereof the respective Plenipotentiaries have signed the present convention, and have affixed thereto their respective seals.

Done at Tangier, the 24th day of October, in the year 1861, corresponding to the Moorish date of the 18th day of the month of Rabbea the 2nd, in the year 1278.

(L.S.) J. H. DRUMMOND HAY. (L.S.) HADJ ABDERRAHMAN EL AJEE (Arabic signature)

SUPPLEMENTARY CONVENTION between Great Britain and Morocco, relative to a Loan to be raised in London by the Emperor. Signed, in English and Arabic, at Tangier, January 18, 1862.

[Ratifications exchanged at Tangier, February 19,1862.]

Her Majesty the Queen of the United Kingdom of Great Britain and Ireland having Concluded a Convention with His Majesty the Emperor of Morocco, at Tangier, on the 24th day of October, 1861, corresponding, to the Moorish date of the 18th of the month of Rabeea the Second, in the year 1278, for the purpose of facilitating the raising in London, by His Majesty the Emperor of Morocco, of a loan of 426,000, in order to enable him to meet his engagements with Her Catholic Majesty; and whereas it is proposed that the said sum of 426,000 shall be raised at the rate of 85 cash for each 100 stock, whereby the nominal amount of the loan will become 501,176 10s; and doubts having been entertained whether the arrangements of the said Convention for the repayment of the loan extend to an amount of stock greater than the sum of 426,000, intended to be raised in cash; Her Britannic Majesty and His Majesty the Emperor of Morocco have resolved to conclude a further Convention on the subject, and have named as their Plenipotentiaries, that is to say:

Her Majesty the Queen of the United Kingdom of Great Britain and Ireland, John Hay Drummond Hay, Esquire, Companion of the Most Honourable order of the Bath, Her Minister Resident at the Court of His Majesty the Emperor of Morocco;

And His Majesty the Emperor of Morocco, his Officer, the learned Fakee Seed Hadj Abderrahman el Ajee;

Who, after having communicated to each other their respective full powers, have agreed upon and concluded the following Articles:

Art. I. His Majesty the Emperor of Morocco engages that the arrangements of the said Convention so entered into as aforesaid shall apply, not only to the sum of 426,000, intended to be raised in cash, or to so much thereof as shall be raised, but shall extend to the sum of 501,1761 10s, being the amount of the stock proposed to be created to raise the said loan, or to such other amount of amount of stock greater than the sum of 501,176 10s, which it may be necessary to create in order to cover and include any discount, bonus, or other consideration which the Commissioner of His said Majesty may, with the concurrence and sanction of His said Majesty, allow to the subscribers to the said loan.

II. The Commissioner of Her Britannic Majesty mentioned in the convention aforesaid shall, by virtue of the said Convention, continue to receive the 50 per cent. of the Customs duties at all the ports of the Empire of Morocco, until not only the said sum of 426,000 sterling and interest thereon, but until also the amount of stock representing that sum, and any discount, bonus, or other consideration to be allowed to the subscribers to the said loan, as provided in the preceding article, shall have been fully paid.

III. In case only a part of the 426,000 cash should be raised then the stipulations of Articles I and II shall apply only to the corresponding amount of stock.

IV. The present Convention shall be ratified by Her Majesty the Queen of Great Britain and Ireland, and by His Majesty the Emperor of Morocco, and the ratifications shall be exchanged at Tangier as soon a possible, within 60 days from the date hereof.

In witness whereof the respective Plenipotentiaries have signed the present convention, and have affixed thereto their respective seals.

Done at Tangier, the 18th day of January, in the year 1862, corresponding to the Moorish date of the 17th of Rejeb, in the Year 1278

(L.S.) J. H. DRUMMOND HAY. (L.S.) HADJ ABDERRAHMAN EL AJEE (Arabic signature)

Text from: Hertslet's Commercial Treaties, vol. XI, p. 425 Also in British and Foreign State Papers, vol. LI, 61. Parliamentary Papers, 1862, vol. LXIV, 453 Martens, Nouveau Recueil General, vol. XVII(2), 132, Archives Diplomatiques, 1862, vol. II, 181 (French translation).

Convention of 18 January 1862 Text from Hertslet's Commercial Treaties, vol. XI, p. 426 Also in British and Foreign State Papers, Vol. LII, 33

Contributed by C. R. Pennell, University of Melbourne, rpennell@unimelb.edu.au