The necessity for the American element to predominate in the government of Nicaragua sprang from the clauses in the treaty of peace. In order to carry out the spirit of that treaty—to secure to the Americans in the service of the Republic the rights guaranteed to them by the full sovereign power of the State—it was requisite to get into the country a force capable of protecting it, not only from domestic but from foreign enemies. Hence the “sale of the country,” in Rivas’ use of the term, was a foregone conclusion after the 23d of October. Walker had sworn to have the treaty observed in all respects. He was responsible before Nicaragua and before the world for the faithful execution of it, and above all he was bound to the Americans on the Isthmus to gain for them the strength requisite for the maintenance of their privileges. And for this object it was of the first importance to place the Transit in the hands of those pledged by every consideration of interest to secure the permanence of the new order of things. The old Transit Company aimed at being master of the government; the new charter made the owners of the grant the servants of the State and the agents of its policy. The control of the Transit is, to Americans, the control of Nicaragua: for the lake, not the river as many think, furnishes the key to the occupation of the whole State. Therefore, whoever desires to hold Nicaragua securely, must be careful that the navigation of the lake is controlled by those who are his stanchest and most reliable friends. The commissioners proceeded, under the decree, to seize the property of the companies, and place it in the keeping of Joseph N. Scott, after he had given a full and satisfactory bond. The subsequent proceedings of the commissioners, and the conduct of the grantees under the new charter, will be hereafter related. In this connection the main object is to show how the policy of Rivas toward the Accessory Transit Company was, as it were, the keystone of the arch supporting his administration. With a different policy the Provisional President would have found himself with a very small force to oppose the combination which threatened him almost from the day he was inaugurated.