US Presidency
1825

Immediately after the close of the last war a proposal was fairly made by the act of Congress of 1815 - 03 - 03, to all the maritime nations to lay aside the system of retaliating restrictions and exclusions, and to place the shipping of both parties to the common trade on a footing of equality in respect to the duties of tonnage and impost. This offer was partially and successively accepted by Great Britain, Sweden, the Netherlands, the Hanseatic cities, Prussia, Sardinia, the Duke of Oldenburg, and Russia. It was also adopted, under certain modifications, in our late commercial convention with France, and by the act of Congress of 1824 - 01 08, it has received a new confirmation with all the nations who had acceded to it, and has been offered again to all those who are or may here after be willing to abide in reciprocity by it. But all these regulations, whether established by treaty or by municipal enactments, are still subject to one important restriction.