At the time of the negotiation for the renewal of the commercial convention between the United States and Great Britain a hope had been entertained that an article might have been agreed upon mutually satisfactory to both countries, regulating upon principles of justice and reciprocity the commercial intercourse between the United States and the British possessions as well in the West Indies as upon the continent of North America.  The plenipotentiaries of the two Governments not having been able to come to an agreement on this important interest, those of the United States reserved for the consideration of this Government the proposals which had been presented to them as the ultimate offer on the part of the British Government, and which they were not authorized to accept.  On their transmission here they were examined with due deliberation, the result of which was a new effort to meet the views of the British Government.  The minister of the United States was instructed to make a further proposal, which has not been accepted.  It was, however, declined in an amicable manner.  I recommend to the consideration of Congress whether further prohibitory provisions in the laws relating to this intercourse may not be expedient.  It is seen with interest that although it has not been practicable as yet to agree in any arrangement of this important branch of their commerce, such is the disposition of the parties that each will view any regulations which the other may make respecting it in the most friendly light.

By the 5th article of the convention concluded on October 20th, 1818, it was stipulated that the differences which have arisen between the two Governments with respect to the true intent and meaning of the 5th article of the treaty of Ghent, in relation to the carrying away by British officers of slaves from the United States after the exchange of the ratifications of the treaty of peace, should be referred to the decision of some friendly sovereign or state to be named for that purpose.  The minister of the United States has been instructed to name to the British Government a foreign sovereign, the common friend to both parties, for the decision of this question.  The answer of that Government to the proposal when received will indicate the further measures to be pursued on the part of the United States.

Although the pecuniary embarrassments which affected various parts of the Union during the latter part of the preceding year have during the present been considerably augmented, and still continue to exist, the receipts into the Treasury to the 30th of September last have amounted to $19 millions.  After defraying the current expenses of the Government, including the Interest and reimbursement of the public debt payable to that period, amounting to $18.2 millions, there remained in the Treasury on that day more than $2.5 millions, which, with the sums receivable during the remainder of the year, will exceed the current demands upon the Treasury for the same period.