The ratifications having been since exchanged, the liberal provisions
of the treaty are now in full force, and under the encouragement which
they have secured a flourishing and increasing commerce, yielding its
benefits to the enterprise of both nations, affords to each the just
recompense of wise measures, and adds new motives for that mutual
friendship which the two countries have hitherto cherished toward
each other.
It affords me peculiar satisfaction to state that the Government of
Spain has at length yielded to the justice of the claims which have been
so long urged in behalf of our citizens, and has expressed a willingness
to provide an indemnification as soon as the proper amount can be agreed
upon. Upon this latter point it is probable an understanding had taken
place between the minister of the United States and the Spanish
Government before the decease of the late King of Spain; and, unless
that event may have delayed its completion, there is reason to hope that
it may be in my power to announce to you early in your present session
the conclusion of a convention upon terms not less favorable than those
entered into for similar objects with other nations.
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