Treaty of Washington of 1901.
§ 568. The so-called Hay-Pauncefote Treaty of Washington[930] between Great Britain and the United States of America, signed November 18, 1901, although law-making between the parties only, is nevertheless of world-wide importance, because it neutralises permanently the Panama Canal, which is in course of construction, and stipulates free navigation thereon for vessels of all nations.[931]
[930] Martens, N.R.G. 2nd Ser. XXX. p. 631.
[931] It ought to be mentioned that article 5 of the Boundary Treaty of Buenos Ayres, signed by Argentina and Chili on September 15, 1881—see Martens, N.R.G. 2nd Ser. XII. p. 491—contains a law-making stipulation of world-wide importance, because it neutralises the Straits of Magellan for ever and declares them open to vessels of all nations. See above, [p. 267, note 2], and below, [vol. II. § 72].
Conventions and Declaration of Second Hague Peace Conference.
§ 568a. The Final Act of the Second Hague Peace Conference of October 18, 1907, is a pure law-making treaty of enormous importance comprising the following thirteen conventions[932] and a declaration:—
[932] Only a greater number of States have as yet ratified the Conventions, but it is to be expected that many more will grant ratification in the course of time.
(1) Convention for the Pacific Settlement of International Disputes. All States represented at the Conference signed except Nicaragua, but some signed with reservations only. Nicaragua acceded later.
(2) Convention respecting the Limitation of the Employment of Force for the Recovery of Contract Debts, signed by Great Britain, Germany, the United States of America, Argentina, Austria-Hungary, Bolivia, Bulgaria, Chili, Columbia, Cuba, Denmark, San Domingo, Ecuador, Spain, France, Greece, Guatemala, Haiti, Italy, Japan, Mexico, Montenegro, Norway, Panama, Paraguay, Holland, Peru, Persia, Portugal, Russia, Salvador, Servia, Turkey, Uruguay; China and Nicaragua acceded later. Some of the South American States signed with reservations.
(3) Convention relative to the Opening of Hostilities. All the States represented at the Conference signed except China and Nicaragua; both, however, acceded later.