rchants in the United States, and
American merchants shall enjoy all the commercial privileges of native
merchants in the Kingdom of Spain and in the Canaries and other islands
belonging to and adjacent thereto. The same privileges shall extend to
their respective vessels and merchandise consisting of the manufactures
and products of their respective countries.

Second. Each party may establish consuls in the countries of the other
(excepting such provinces in Spain into which none have heretofore been
admitted, viz, Bilboa and Guipusca), with such powers and privileges as
shall be ascertained by a particular convention.

Third. That the bona fide manufactures and productions of the United
States (tobacco only excepted, which shall continue under its present
regulation) may be imported in American or Spanish vessels into any
parts of His Majesty's European dominions and islands aforesaid in like
manner as if they were the productions of Spain, and, on the other hand,
that the bona fide manufactures and productions of His Majesty's
dominions may be imported into the United States in Spanish or American
vessels in like manner as if they were the manufactures and productions
of the said States. And further, that all such duties and imposts as may
mutually be thought necessary to lay on them by either party shall be
ascertained and regulated on principles of exact reciprocity by a
tariff, to be formed by a convention for that purpose, to be negotiated
and made within _one_ year after the exchange of the ratification of
this treaty; and in the meantime that no other duties or imposts shall
be exacted from each other's merchants and ships than such as may be
payable by natives in like cases.

Fourth. That inasmuch as the United States, from not having mines of
gold and silver, may often want supplies of specie for a circulating
medium, His Catholic Majesty, as a proof of his good will, agrees to
order the masts and timber which may from time to time be wanted for his
royal navy to be purchased and paid for in specie in the United States,
provided the said masts and timber shall be of equal quality and when
brought to Spain shall not cost more than the like may there be had for
from other countries.

Fifth. It is agreed that the articles commonly inserted in other
treaties of commerce for mutual and reciprocal convenience shall be
inserted in this, and that this treaty and every article and stipulation
therein shall contin