But Fulton was dealing with men far abler than he in fixing values and making contracts. The negotiations were not broken off by abruptly refusing to pay the sums asked. That would have been a blunder that one selected for such a delicate mission would not be guilty of committing. The British representative apparently did not even suggest that the retainer was exorbitant, but only that it was “contrary to established rules” to pay in advance. Then, before giving an obligation to pay a sum commensurate with the value of the devices, the reasonable and unanswerable preliminary condition of an experimental demonstration was made a prerequisite.
The British diplomats unlike the French had avoided giving any offense to his amour propre. Though they refused to grant his financial requests, they succeeded in getting him to go to England, which was their main purpose. Not until they had him safe in London, did they take up the question of a contract. The original demand of £100,000 was reduced to £40,000. The retainer disappeared entirely except as it was represented by such portion of the £800 with which “Mr. Smith” was furnished in the first instance to pay his own and Fulton’s expenses. In lieu of the reductions, there appears in the contract an agreement to pay a salary of £200 a month. How deliciously clever! To one in the straightened circumstances in which Fulton always had been and still was, for even now any surplus of income of which he might have been possessed, but of which there is no evidence, was swallowed up by his steamboat experiments, this monthly payment must have been of inestimable importance. It guaranteed him comfort and at last a substantial excess for his other work, because his submarine disbursements were to be met entirely by the government up to a maximum limit of £7,000. On the other hand, the Government held secure the man, who as an enemy they feared, and who as such was a constant source of worry. This result was obtained at a cost that was to them a trifling figure.
Fulton appears to have concluded that his claim for £100,000 was perhaps too high because he voluntarily accepted the sum of £40,000 mentioned in the contract. Of this latter amount, he made to the arbitrators the ingenious suggestion that they pay him one-half in cash and the other half in an annuity based on his life, the annuity to be forfeit should the secret of his inventions in submarine warfare be divulged by him or his friends. It is regretted that Fulton did not disclose the names of his friends who were jointly interested with him, as they were probably the same who had financed his French experiments.