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upon Spanish commerce, not as a mere matter of power simply, but in the exercise of the sovereign rights of war, under the laws of nations. With regard to the new American republics, thus acknowledged by the United States as belligerents, it will be recollected that one of the first acts of Mr. John Quincy Adams, when he became President of the United States, was to recommend the passage of a law authorizing him to send members to a Congress of all the American States, to be assembled at Panama. Under this law, members of that Congress were actually appointed—though they never proceeded to their destination—and Mr. Clay, then Secretary of State, and who had been among the foremost to advocate the recognition of the independence of the South American republics, prepared an elaborate and eloquent letter of instructions for their guidance, in which he dwelt upon the very principles I am now invoking. The republics, whose ambassadors it was thus proposed to meet, in an International