The ratifications of the treaty of the 4th July, 1831, were exchanged at Washington, on the 2d February, 1832. When this treaty arrived in Paris, the French Chambers were in session, and they continued in session for several weeks. They did not adjourn, until the 19th of April. No time more propitious for presenting this treaty to the Chambers, could have been selected, than that very moment. Europe then was, as I believe it still is, one vast magazine of gunpowder. It was generally believed, that the Polish revolution was the spark which would produce the explosion. There was imminent danger of a continental war, in which France, to preserve her existence, would have to put forth all her energies. Russia, Prussia, and Austria, were armed and ready for the battle. It was then the clear policy of France to be at a good understanding with the United States. If it had been the ardent desire of the king’s government, to carry into effect the stipulations of the treaty, they would have presented it to the Chambers before their adjournment. This would undoubtedly have been the course pursued by any President of the United States, under similar circumstances. But the treaty was not presented. I freely admit, that this omission, standing by itself, might be explained by the near approach of the adjournment, at the time the treaty arrived from Washington. It is one important link, however, in the chain of circumstances, which cannot be omitted. The Government of the United States proceeded immediately to execute their part of the treaty. By the act of the 13th July, 1832, the duties on French wines were reduced according to its terms, to take effect from the day of the exchange of ratifications. At the same session, the Congress of the United States, impelled no doubt by their kindly feelings towards France, which had been roused into action by what they believed to be a final and equitable settlement of all our disputes, voluntarily reduced the duty upon silks coming from this side of the Cape of Good Hope to five per cent., whilst those beyond were fixed at ten per cent. And at the next session, on the 2d of March, 1833, this duty of five per cent. was taken off altogether; and ever since, French silks have been admitted into our country free of duty. There is now, in fact, a discriminating duty of ten per cent. in their favor, over silks from beyond the Cape of Good Hope.