rinciple of international
law, by means of special conventions between the several powers of
Europe and America. Accordingly, a proposition embracing not only the
rule that free ships make free goods, except contraband articles, but
also the less contested one that neutral property other than contraband,
though on board enemy's ships, shall be exempt from confiscation, has
been submitted by this Government to those of Europe and America.

Russia acted promptly in this matter, and a convention was concluded
between that country and the United States providing for the observance
of the principles announced, not only as between themselves, but also
as between them and all other nations which shall enter into like
stipulations. None of the other powers have as yet taken final action on
the subject. I am not aware, however, that any objection to the proposed
stipulations has been made, but, on the contrary, they are acknowledged
to be essential to the security of neutral commerce, and the only
apparent obstacle to their general adoption is in the possibility that
it may be encumbered by inadmissible conditions.

The King of the Two Sicilies has expressed to our minister at Naples his
readiness to concur in our proposition relative to neutral rights and to
enter into a convention on that subject.

The King of Prussia entirely approves of the project of a treaty to
the same effect submitted to him, but proposes an additional article
providing for the renunciation of privateering. Such an article,
for most obvious reasons, is much desired by nations having naval
establishments large in proportion to their foreign commerce. If it
were adopted as an international rule, the commerce of a nation having
comparatively a small naval force would be very much at the mercy of its
enemy in case of war with a power of decided naval superiority. The bare
statement of the condition in which the United States would be placed,
after having surrendered the right to resort to privateers, in the
event of war with a belligerent of naval supremacy will show that this
Government could never listen to such a proposition. The navy of the
first maritime power in Europe is at least ten times as large as that of
the United States. The foreign commerce of the two countries is nearly
equal, and about equally exposed to hostile depredations. In war between
that power and the United States, without resort on our part to our
mercantile marine the means of o