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& 22 Question 10. How will the payment to Panama under paragraph 4(a) of the treaty be calculated for U.S. government vessels paying tolls on displacement tonnage? er it is assumed that for vessels assessed tolls on a displacement tonnage Vesel, ranama will be paid at a rate per ton which takes into account the re- lationship between the toll rate applied to Panama Canal net tons and that ap- plied to displacement tonnage. The relationship of current tolls assessed on a Panama Canal net ton basis (laden) to tolls assessed on a displacement tonnage basis is $1.29 to $0.72, the displacement rate being 56 percent of the laden P.C. net rate. Applying the 56 percent to the $0.30 per P.C. net ton annuity to Panama yields $0.17 per displacement ton. Question 11. Paragraph 1 of Article XIII of the new treaty provides that on termination of the treaty, the Panama Canal shall be turned over to Panama "free of liens and debts, except as the two Parties may otherwise agree". The 1976 annual report of the Panama Canal Company showed year-end liabilities, exclusive of the U.S. investment in the canal, of some $92 million. On its face, the cited treaty provision appears to require the U.S. to pay off all such Habilities before transfer to Panama. What is the estimated amount of such liabilities at the termination of the treaty and how would the payments necessary to liquidate such liabilities be financed