great lines of
inland trade, commerce, and industry. Yet, while this is true, our
American merchant marine has been steadily declining until it is now
lower, both in the percentage of tonnage and the number of vessels
employed, than it was prior to the Civil War. Commendable progress has
been made of late years in the upbuilding of the American Navy, but we
must supplement these efforts by providing as a proper consort for it a
merchant marine amply sufficient for our own carrying trade to foreign
countries. The question is one that appeals both to our business
necessities and the patriotic aspirations of a great people.

It has been the policy of the United States since the foundation of the
Government to cultivate relations of peace and amity with all the
nations of the world, and this accords with my conception of our duty
now. We have cherished the policy of non-interference with affairs of
foreign governments wisely inaugurated by Washington, keeping ourselves
free from entanglement, either as allies or foes, content to leave
undisturbed with them the settlement of their own domestic concerns. It
will be our aim to pursue a firm and dignified foreign policy, which
shall be just, impartial, ever watchful of our national honor, and
always insisting upon the enforcement of the lawful rights of American
citizens everywhere. Our diplomacy should seek nothing more and accept
nothing less than is due us. We want no wars of conquest; we must avoid
the temptation of territorial aggression. War should never be entered
upon until every agency of peace has failed; peace is preferable to war
in almost every contingency. Arbitration is the true method of
settlement of international as well as local or individual differences.
It was recognized as the best means of adjustment of differences between
employers and employees by the Forty-ninth Congress, in 1886, and its
application was extended to our diplomatic relations by the unanimous
concurrence of the Senate and House of the Fifty-first Congress in 1890.
The latter resolution was accepted as the basis of negotiations with us
by the British House of Commons in 1893, and upon our invitation a
treaty of arbitration between the United States and Great Britain was
signed at Washington and transmitted to the Senate for its ratification
in January last. Since this treaty is clearly the result of our own
initiative; since it has been recognized as the leading feature of our
foreign pol