The Secretary of State to the French Ambassador.

My Dear Mr. Ambassador: I beg to transmit herewith a memorandum prepared in this department as the result of the consideration given by it to your note of the 12th ultimo containing the counterproposals of your Government for a new commercial agreement between the United States and France, and to your memorandum of the 28th ultimo on the same subject,

I am, etc.,

Elihu Root.