Brief summary notes from the conferences held between don Diego de Gardoqui and Mr. Jay, which if they should be approved by His Majesty, would serve as part of the treaty or regulations which are being worked out, with insertion of the most substantial points made by Gardoqui. A period of thirty years will be designated as the duration of the aforesaid treaty. There will be a perfect reciprocity of commerce between the Kingdom of Spain and its European islands and all the United States of North America. The merchants from both countries will be considered as national merchants in all that regards commerce, internal rights, taxes, and privileges. The same will be understood with respect to navigation. Both sides will appoint consuls with the privileges and powers agreed upon in those provinces where there were none before.

^[Marginal note by Gardoqui] Let it be clear that these regulations do not hold for those things which are forbidden in Spain.^ The introduction of all manufactured goods and products which in good faith were manufactured in both countries will be mutually permitted (with the exception of tobacco which will continue under the present regulation). All the rights and taxes which are deemed necessary in either country will be established according to principles of exact reciprocity to be agreed upon in the future. The United States, which has no gold or silver mines might need an additional quantity of bullion for currency. His Catholic Majesty in order to give a greater proof of his generosity and good will is disposed to order that masts and spars and construction wood needed for His Royal Army be purchased and paid for in bullion in the United States provided that the aforesaid masts and spars and construction wood be of the same quality as that which is purchased in other countries, and that these items once in Spain would not cost more than it would in those countries.

^[Marginal note by Gardoqui] The respective possessions will be ratified according to the outcome of this treaty.^ His Catholic Majesty and the United States of North America will mutually guarantee that their respective American possessions will remain as they were defined, agreed upon, and established by their respective treaties with Great Britain at the end of the last war.

^[Marginal note by Gardoqui] Time is needed in order to deliberate this last article, because His Catholic Majesty could find himself in the same situation as the United States with respect to ports and places, and under such circumstances, given that His Catholic Majesty is involved, it would be just to reciprocate them according to the principles upon which this article is based.^ It is expressly declared by way of this guarantee that it be understood that in the event that the American possessions of either party be attacked by the enemy, the other party should immediately declare war on the attacker and not lay down its arms until the attacked party has recovered its territories and peacefully possesses them, or until a peace treaty has been signed with the consent of the allied parties.

Since some ports and places which were designated by the peace treaty with England as belonging to the United States have still not been delivered, His Catholic Majesty offers to mediate and will assure that justice be done by way of arms if this cannot be promptly obtained by other means.

Duplicate.

Mr. Shaw, the new United States consul appointed to the Emperor of China, has recently taken his leave of me.1