I: The abolition of all Custom Houses allowing absolutely free interchange of Commerce between Nations.
II: All revenue for Public purposes to be collected by taxes levied on land values only, exempting all labor products from taxation.
III: All disputes arising between Nations which cannot be satisfactorily adjusted by the disputants, to be referred to a Board of Mediators chosen from other Nations; failure of this Board to satisfy disputants, an appeal may be made to one or more non-disputing Nations for a vote on the subject in dispute by their National law making body, or bodies, upon full information of the matter in question, to be supplied by disputants; the majority vote to be the final decision.
IV: Failure to abide by this pact in a way that might tend to endanger the peace of Nations -- the Power, or Powers, at fault to be disciplined by a denial of all trade intercourse with the other Nations.
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