The government of the Swiss Federation has suggested a revision of the commercial treaty between Germany and Switzerland. Filled with the desire of confirming the existing friendly relations between the two countries and of extending them also into the realm of their commercial policies, I stand ready to meet their proposal. The negotiations have been conducted through the offices of representatives from the states bordering upon Switzerland, and their result consists in a further agreement through which the treaty regulations for reciprocal trade will be extended and the exchange of industrial products will be made easier. After its successful acceptance by the Bundesrat the agreement will be presented to you with the proposal, in order that you may bestow upon it your constitutional sanction. The budget for the next fiscal year will be laid before you without delay. The draft gives proof of the satisfactory condition of the imperial finances. As a result of the reforms instituted in the last few years, with your co-operation, in the way of tariffs and internal revenues, surplus receipts may be expected, and upon this basis we shall not only be provided with a new means of fulfilling the inevitable obligations of the empire but it may be possible for our constituent states to expect an increase of means for their own purposes. I greet with joy the signs of a revival of economic activity in various fields. Even though the pressure which bears upon the farmer is not yet relieved, nevertheless, as I look forward to the possibility which has lately appeared of a greater utilization of certain agricultural products, I hope that an amelioration also of this most powerful branch of our industrial work will be brought about. The bill which has already been announced on the regulation of the industrial and agricultural societies will be laid before you for your decision. It is to be hoped that the enfranchising of associations with limited liability which the bill proposes will prove itself beneficial in increasing agricultural credit. Certain shortcomings which have appeared in connection with the insurance against sickness call for legal remedy. The necessary preliminary investigations for this have so far progressed as to make it possible, in all probability, to lay before you in the course of this session an adequate presentation of the case.