Terms agreed upon between the Executive and R. P. Houston, for direct navigation from the United States to the ports of the Republic.

1.
Mr. R P. Houston binds himself to establish a direct line of steamers between the United States and Buenos Ayres, which shall begin running within five months from the signing of this contract by the Argentine Government.
2.
The line shall be served by three or four steamers of the same class and condition as the three for the North European service, and must be built in the same time as fixed for the others, but without freezing apparatus.
3.
In the mean time, the line shall be served by such other steamers as Houston shall place in suitable condition for cargo and accommodations of passengers.
4.
The guaranty shall be 5 per cent, on a capital of £360,000, maximum of said vessels.
5.
The other conditions for the contract for the North European service are applicable to this.