Another consequence of this construction will be, that the vessels of
the most favored nations, paying no duties, will be on a better footing
than those of natives, which pay a moderate duty: consequently, either
the duty on these also must be given up, or they will be supplanted by
foreign vessels in our own ports.

The resource, then, of duty on vessels, for the purposes either of
revenue or regulation, will be for ever lost to both. It is
hardly conceivable that either party, looking forward to all these
consequences, would see their interest in them. So that on the
whole, Sir, we consider the fifth article of the treaty merely as an
illustration of the third and fourth articles, by an application of
the principles comprised in them to the case stated in that, and that
a contrary construction would exceedingly embarrass and injure both
the contracting parties. We feel every disposition on our part to make
considerable sacrifices, where they would result to the sole benefit
of your nation: but where they would excite from other nations
corresponding claims, it becomes necessary to proceed with caution. You
probably know, Sir, that the general subject of navigation was before
our legislature at their last session, and was postponed merely for the
want of time to go through it, before the period arrived to which the
constitution had limited their existence. It will be resumed at the
meeting of the new legislature, and from a knowledge of the sincere
attachment of my countrymen to the prosperity of your nation, and to
the increase of our intercourse with it, I may safely say for the
new legislature, that the encouragement of that intercourse, for
the advantage of both parties, will be considered as among the most
interesting branches of the general subject submitted to them. From a
perfect conviction of the coincidence of our interests, nobody wishes
more sincerely to cultivate the habit of mutual good offices and favors,