But the valuation which has been deemed most satisfactory is that presented in the indemnity paid by Spain for the French spoliations on our commerce in her ports during this period, amounting, for 173 vessels, to $2,845,619, being an average of $16,500 for each vessel. Adopting this average, we have as the aggregate value of the 898 vessels yielded to France under the Convention of 1800, and lost to our merchants, the sum of $14,817,000,--nearly _fifteen million dollars_. This estimate, tested by the official statements, fixing the spoliations in October, 1797, at fifteen millions, and in January, 1799, at twenty millions, will appear at least not excessive,--adding for the continued spoliations during the succeeding two years and a half to July, 1801, only the very moderate allowance of two and one half millions, (being in the ratio of but one fourth the increase for the fifteen months between the two former dates,) and deducting payments. Here are the figures:-- Official estimate of January, 1799 $20,000,000 Additional to July, 1801, say 2,500,000 ---------- $22,500,000 Deduct therefrom-- 1. Vessels paid for by France, fifty-two cases, at the average $16,500 $858,000 2. Debts paid under Convention of 1803 3,750,000 3. French spoliations, paid for under treaty with Spain of 1819 2,845,619 ---------- 7,453,619 ---------- Sum-total, after deductions $15,046,381 If to this estimate interest be added, even at the smallest rate, the losses of these sufferers will assume vastly larger proportions. More than sixty years have run their course since the United States, by a public act and for a valuable consideration, became their debtor. From the beginning the country has enjoyed without price all the “national” benefits originally secured at their expense, as part of the national capital with its bountiful income, while these claimants have been shut out from their property, and all its just profits. If interest be due on any national debt, it is difficult to see why it is not due here. Never was a case stronger. Nor is there any doubt with regard to the rule. According to the best authorities, whether publicists or courts, interest is justly due. Though swelling the national liability, it is none the less an item in the case.