440 
APPENDIX. 
goods can be transported from ocean to ocean whether ex¬ 
clusively on a continuous railroad or by the help of steamers 
belonging to the enterprise which shall navigate the inland 
waters of the Republic. 
Article Y. The concessions granted in the present con¬ 
vention as also the privilege of preference and right of work¬ 
ing the interoceanic transit shall be in force for seventy 
years, to be counted from the conclusion of the works; at 
the end of fifty years the Republic of Nicaragua shall have 
the right to buy up or commute the railway for the value 
which it may then have according to the just valuation of 
experts appointed in the manner expressed in Article XI.; 
and, at the end of seventy years, that is to say, at the end 
of the contract, the commutation shall also take place by the 
payment of two-thirds of the valuation which it may then 
receive. In the event of the Republic not making such re¬ 
demption in the way and on the terms stipulated, the present 
convention shall hold good for ninety-nine years. During 
the term of seventy years aforesaid, the transit enterprise 
shall be formally bound to pay annually to the Government 
of the Republic one and a half per cent, upon the gross 
earnings gained by the said enterprise arising from any 
traffic of passengers or goods transported by the line, which 
payment shall be made in accordance with the books of said 
enterprise and with the concurrence of the fiscal agent whom 
the Government may appoint. It is stipulated, moreover, 
that during the twenty-nine years of the aforesaid prorogue, 
the Government shall have the right to receive a quota 
double to that of the agreed one, that is to say three per 
cent, per annum upon the gross earnings of the enterprise. 
At the end of the ninety-nine years herein stipulated, the 
interoceanic route, with all its principal and accessory works, 
real or moveable, and other materials, shall pass to the do¬ 
minion and power of the Republic, in good condition for 
service, without any remuneration, compensation, or subsidy 
whatever. 
Aeticle YI. As it may be convenient to the Republic to 
