this sum would be forfeited, and it would receive no
pay for anything it had done.

The sum to be paid by the Government to the
Syndicate, should it bring the war to a satisfactory
conclusion, would depend upon the duration of
hostilities. That is to say, that as the shorter the
duration of the war, the greater would be the benefit
to the country, therefore, the larger must be the pay
to the Syndicate. According to the proposed contract,
the Syndicate would receive, if the war should continue
for a year, one-quarter the sum stipulated to be paid
if peace should be declared in three months.

If at any time during the conduct of the war by the
Syndicate an American seaport should be taken by
the enemy, or a British force landed on any point of
the seacoast, the contract should be considered at an
end, and security and payment forfeited. If any point
on the northern boundary of the United States should be
taken and occupied by the enemy, one million dollars of
the deposited security should be forfeited for every
such occupation, but the contract should continue.

It was stipulated that the land and naval forces of
the United States should remain under the entire
control of the Government, but should be maintained as
a defensive force, and not brought into action unless
any failure on the part of the Syndicate should render
such action necessary.