When Cooke & Co. had completed their undertaking, the deposits in the Bank of England exceeded fifteen million dollars, and for three months they were for the most part unavailable, as the five-twenty bonds which had not matured under the calls that had been made were above par in the market. It was a condition of the loan that the five-twenty bonds redeemed should equal the 5 per cent bonds that had been issued, both issued to be reckoned at their par value. In the month of April, 1872, the Commissioners who had been designated under the Treaty of Washington of 1871 to ascertain and determine the character and magnitude of the claims that had been preferred by the United States against Great Britain, growing out of the depredations committed by the "Alabama" and her associate cruisers, were about to meet at Geneva for the discharge of their duties. The administration had appointed the Hon. J. C. Bancroft Davis, the most accomplished diplomatist of the country, as the agent of the United States, and the preparation of "the Case of the United States" was placed in his hands. The British Ministry discovered--or they fancied that there was concealed in covert language--a claim for damages, known as "consequential or indirect damages"--in other words, a claim to compensation for the value of American shipping that had been driven from the ocean and made worthless through fear of the cruisers that had been fitted out in British ports. This claim, in the extreme form in which it had been presented by Mr. Sumner, had been relinquished by the Administration, and a present reading of "the Case of the United States" may not justify the construction that was put upon it by the British Ministry. Nevertheless, the Administration received notice that Great Britain would not be represented at the Geneva Conference. The subject was considered by the President and Cabinet on three consecutive days at called sessions. At the final meeting I handed a memorandum to the President, which he passed to the Secretary of State. The memorandum was not read to the Cabinet. Mr. Adams, the Commissioner for the United States, had not then left the country. By a despatch from the Secretary of State Mr. Adams was asked to meet me at the Parker House in Boston, on the second day after the day of the date of the despatch. What occurred at the meeting may be best given through an extract from the diary of Mr. Adams, which has been placed in my hands by Mr. Charles Francis Adams, Jr., with the privilege of its full and free use by me. The first entry is under date of Saturday, April 20, 1872, and is in these words: "Charles brought me a telegram from Governor Fish, desiring me to meet Mr. Boutwell, who will be at the Parker House at eleven o'clock on Monday." The second entry is under date of "Monday, 22d of April."