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>>/152446/, >>/152444/, >>/152429/, >>/152430/, >>/152438/ cont... The Treaty of Washington, signed in 1871, required Britain to pay the United States $15.5 million as compensation for damages to American shipping caused by British-built warships, such as the Alabama. This payment was made in coin, specifically in gold, and was to be delivered to the U.S. government in Washington within twelve months after the date of the award. The settlement was a significant step in restoring friendly relations between the two nations and marked a precedent in international arbitration. Brave AI [quote] Article VII. "In case the tribunal find that Great Britain has failed to fulfill any duty or duties as aforesaid, it may, if it think proper, proceed to award a sum in gross to be paid by Great Britain to the United States for all the claims referred to it; and in such case the gross sum so awarded shall be paid in coin by the government of Great Britain to the Government of the United States, at Washington, within twelve months after the date of the award." https://history.state.gov/historicaldocuments/frus1871/d257 https://history.state.gov/historicaldocuments/frus1871/pg_520 Britain Payment in Gold Britain's use of gold for payments was central to its monetary policy during the gold standard era, which lasted from 1717 to 1931. Under this system, any holder of banknotes issued by the Bank of England could present the note at the Bank and demand immediate payment in bullion at a fixed conversion rate. The Bank of England set interest rates to ensure that sufficient gold was attracted to London to maintain convertibility. https://lordslibrary.parliament.uk/bank-of-england-the-gold-standard/