luded and signed in London on the
13th day of March, 1824, by plenipotentiaries duly authorized by both
Governments, to the ratification of which certain obstacles have arisen
which are not yet entirely removed. The difference between the parties
still remaining has been reduced to a point not of sufficient magnitude,
as is presumed, to be permitted to defeat an object so near to the heart
of both nations and so desirable to the friends of humanity throughout
the world. As objections, however, to the principle recommended by the
House of Representatives, or at least to the consequences inseparable
from it, and which are understood to apply to the law, have been raised,
which may deserve a reconsideration of the whole subject, I have thought
it proper to suspend the conclusion of a new convention until the
definitive sentiments of Congress may be ascertained. These documents
relating to the negotiation are with that intent submitted to your
consideration.

Our commerce with Sweden has been placed on a footing of perfect
reciprocity by treaty, and with Russia, the Netherlands, Prussia,
the free Hanseatic cities, the Dukedom of Oldenburg, and Sardinia by
internal regulations on each side, founded on mutual agreement between
the respective Governments.

The principles upon which the commercial policy of the United States
is founded are to be traced to an early period. They are essentially
connected with those upon which their independence was declared, and
owe their origin to the enlightened men who took the lead in our
affairs at that important epoch. They are developed in their first
treaty of commerce with France of 6th February, 1778, and by a formal
commission which was instituted immediately after the conclusion of
their Revolutionary struggle, for the purpose of negotiating treaties
of commerce with every European power. The first treaty of the United
States with Prussia, which was negotiated by that commission, affords
a signal illustration of those principles. The act of Congress of the
3d March. 1815. adopted immediately after the return of a general peace,
was a new overture to foreign nations to establish our commercial
relations with them on the basis of free and equal reciprocity. That
principle has pervaded all the acts of Congress and all the negotiations
of the Executive on the subject since.

A convention for the settlement of important questions in relation
to the northwest coast of this continent and