The vessels of either of the two nations recaptured by the privateers of the other, shall be restored to the first proprietor, if such vessels have not been four and twenty hours in the power of the enemy, provided the owner of the vessel recaptured pay therefor one-third of the value of the vessel, as also of that of the cargo, the cannons and apparel, which third shall be valued by agreement, between the parties interested; or, if they cannot agree thereon among themselves, they shall address themselves to the officers of the admiralty of the place where the privateer who has retaken the vessel shall have conducted her.
Article II.
If the vessel recaptured has been more than twenty-four hours in the power of the enemy, she shall belong entirely to the privateer who has retaken her.
Article III.
In case a vessel shall have been recaptured by a vessel of war belonging to the States-General of the United Netherlands, or to the United States of America, she shall be restored to the first owner, he paying a thirtieth part of the value of the ship, her cargo, cannons and apparel, if she has been recaptured in the interval of twenty-four hours, and the tenth part if she has been recaptured after the twenty-four hours, which sums shall be distributed in form of gratifications to the crews of the vessels which have retaken her. The valuation of the said thirtieth parts and tenth parts shall be regulated according to the tenor of the first article of the present convention.
Article IV.
The restitution of prizes, whether they may have been retaken by vessels of war or by privateers, in the mean time and until requisite and sufficient proofs can be given of the property of vessels recaptured, shall be admitted in a reasonable time, under sufficient sureties for the observation of the aforesaid articles.
Article V.
The vessels of war and privateers of one and of the other of the two nations, shall be reciprocally, both in Europe and in the other parts of the world, admitted in the respective ports of each with their prizes, which may be unloaded and sold according to the formalities used in the State where the prize shall have been conducted, as far as may be consistent with the 22d article of the treaty of commerce: Provided, always, that the legality of prizes by the vessels of the Low Countries shall be decided conformably to the laws and regulations established in the United Netherlands; as, likewise, that of prizes made by American vessels, shall be judged according to the laws and regulations determined by the United States of America.
Article VI.