"'A change in the conditions under which a reciprocal commerce of such magnitude is carried on, and is now developing, ought not, therefore, to be made without the most serious consideration. "'As regards the present treaty, the Commission, as the result of their investigations, have been led to the conclusion that its continuance, under existing circumstances, unless accompanied with certain important modifications, is not desirable on the part of the United States. "'They, however, are also unanimous in the opinion, that, in view of the close geographical connection of the United States with the British Provinces--rendering them in many respects but one country--and of the magnitude of the commercial relations existing between them, it would be impolitic and to the detriment of the interests of the United States to decline the consideration of all propositions looking to the re- establishment of some future and satisfactory international commercial arrangement. Such a course would be in entire opposition to the spirit of the age, the liberality of our people, and the policy of rapidly developing our resources as a means of diminishing the burden of our public debt. "'In view of such an arrangement, the question of whether either of the parties to the treaty has, or has not, conformed to the spirit of its stipulations, is of little importance. It is the future, not the past, that we are to consider; and if advantageous terms for the future are offered--terms which are calculated to promote the development of the trade and commerce of the United States, encourage good feeling and prevent difficulties with our neighbours, and at the same time protect the revenues of the country from serious and increasing frauds--it would be, in the opinion of the Commission, most impolitic to disregard them. "'The offer on the part of the provincial authorities to re-negociate in respect to the commercial relations of the two countries, is in itself an expression of desire to make an arrangement that must be, in every respect, reciprocal; inasmuch as it is evident that no treaty can, for any length of time, continue that does not conduce to the benefit of both parties.