By mutual agreement with Great Britain, through the decision of a joint commission, of which the American members were Senators Lodge and Turner, and Secretary Root, we were able peacefully to settle the Alaska Boundary question, the only question remaining between ourselves and the British Empire which it was not possible to settle by friendly arbitration; this therefore represented the removal of the last obstacle to absolute agreement between the two peoples.

We were of substantial service in bringing to a satisfactory conclusion the negotiations at Algeciras concerning Morocco.

We concluded with Great Britain, and with most of the other great nations, arbitration treaties specifically agreeing to arbitrate all matters, and especially the interpretation of treaties, save only as regards questions affecting territorial integrity, national honor and vital national interest.

We made with Great Britain a treaty guaranteeing the free use of the Panama Canal on equal terms to the ships of all nations, while reserving to ourselves the right to police and fortify the canal, and therefore to control it in time of war.

Under this treaty we are in honor bound to arbitrate the question of canal tolls for coastwise traffic between the Western and Eastern coasts of the United States.