ction of the railroad at Panama. It is in accordance with the whole
spirit of the resolution of the Senate of the 3d of March, 1835,
referred to by President Polk, and with the policy adopted by President
Jackson immediately after the passage of that resolution, who dispatched
an agent to Central America and New Granada "to open negotiations with
those Governments for the purpose of effectually protecting, by suitable
treaty stipulations with them, such individuals or companies as might
undertake to open a communication between the Atlantic and Pacific
oceans by the construction of a ship canal across the isthmus which
connects North and South America, and of securing forever by such
stipulations the free and equal right of navigating such canal to all
such nations on the payment of such reasonable tolls as might be
established to compensate the capitalists who should engage in such
undertaking and complete the work."

I also communicate herewith a copy of the correspondence between the
American Secretary of State and the British plenipotentiary at the time
of concluding the treaty. Whatever honor may be due to the party first
proposing such a treaty justly belongs to the United States. My
predecessor, in his message of the 10th of February, 1847, referring to
the treaty with New Granada for the protection of the Panama Railroad,
observes that--

Should the proposition thus tendered be rejected we may deprive the
United States of the just influence which its acceptance might secure to
them, and confer the glory and benefits of being the first among the
nations in concluding such an arrangement upon the Government either of
Great Britain or France. That either of these Governments would embrace
the offer can not be doubted, because there does not appear to be any
other effectual means of securing to all nations the advantages of this
important passage but the guaranty of great commercial powers that the
Isthmus shall be neutral territory. The interests of the world at stake
are so important that the security of this passage between the two
oceans can not be suffered to depend upon the wars and revolutions which
may arise among different nations.

Should the Senate in its wisdom see fit to confirm this treaty, and the
treaty heretofore submitted by me for their advice in regard to its
ratification, negotiated with the State of Nicaragua on the 3d day of
September last, it will be necessary to amend one or both of the