The happiest effects
upon the future trade between the United States and Portugal are
anticipated from it, and the time is not thought to be remote when a
system of perfect reciprocity will be established.
The installments due under the convention with the King of the Two
Sicilies have been paid with that scrupulous fidelity by which his whole
conduct has been characterized, and the hope is indulged that the
adjustment of the vexed question of our claims will be followed by a
more extended and mutually beneficial intercourse between the two
countries.
The internal contest still continues in Spain. Distinguished as
this struggle has unhappily been by incidents of the most sanguinary
character, the obligations of the late treaty of indemnification with us
have been, nevertheless, faithfully executed by the Spanish Government.
No provision having been made at the last session of Congress
for the ascertainment of the claims to be paid and the apportionment
of the funds under the convention made with Spain, I invite your early
attention to the subject. The public evidences of the debt have,
according to the terms of the convention and in the forms prescribed by
it, been placed in the possession of the United States, and the interest
as it fell due has been regularly paid upon them.
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