confiscated as prize of war.

This rule is often enforced by treaty, but unless thus enforced it
cannot be considered as an inflexible, though established, rule. This
rule is a guide which the Sovran of the belligerent state follows or
abandons at will, and although it cannot be disregarded by him without
obloquy, yet it may be disregarded. It is not an immutable rule, but
depends on considerations which continually vary.[10]

[Sidenote: Rule with respect to Immoveable Property.]

The rule is different with respect to Immoveable Things, such as
Landed Estates. He who declares war does not confiscate the Immoveable
Estate possessed in his country by the enemy, but the Income may be
sequestrated, to prevent its being remitted to the enemy.[11]

[Sidenote: Public Funds.]

Public Funds, or in other words, debts due from the Sovran of the
hostile state to Private Persons, are always held protected from
confiscation, and there is only one instance in modern times where
this rule has been broken. It is a matter of public faith; and even
during war, no enquiry ought to be made whether any part of the public
debt is due to the subjects of the enemy.[12]

[Sidenote: Rule of Reciprocity.]

All these rules are, however, subject to the Rule of Reciprocity. This
is thus laid down by Sir William Scott, in the case of the Santa Cruz,