to Mr. Bayard.
Madrid, May 26, 1888. (Received June 9.)
Sir: As the agreement between the United States of America and Spain, executed in Washington on September 21, 1887, and since renewed in Madrid, was approaching its limitation, June 30, I addressed a note to Mr. Moret, a copy of which is inclosed. In a subsequent conversation the minister for foreign affairs informed me that he had consulted the ministry, who had authorized him to assent to my proposition.
I have now the honor of inclosing the agreement as signed to-day, which, instead of expiring in six months, will be prolonged until an inclusive treaty of commerce is made between the two Governments, or until either of the signatory parties shall give two months’ notice of a desire for its discontinuance.
As this arrangement supersedes the necessity for semi-annual renewal, and leaves either party as free as before, I trust it may receive the approval of the Department.
I have, etc.,