Under such circumstances we ought neither to count the cost, nor regard the odds which Spain might enlist against us.  We forbear to enter into the question, whether the present condition of the island would justify such a measure.  We should, however, be recreant to our duty, be unworthy of our gallant forefathers, and commit base treason against our posterity, should we permit Cuba to be Africanized and become a second San Domingo, with all its attendant horrors to the white race, and suffer the flames to extend to our own neighboring shores, seriously to endanger, or actually to consume, the fair fabric of our Union.

We fear that the course and current of events are rapidly tending toward such a catastrophe.  We, however, hope for the best, though we ought certainly to be prepared for the worst.

We also forbear to investigate the present condition of the questions at issue between the United States and Spain.  A long series of injuries to our people have been committed in Cuba by Spanish officials, and are unredressed.  But recently a most flagrant outrage on the rights of American citizens, and on the flag of the United States, was perpetrated in the harbor of Havana under circumstances which, without immediate redress, would have justified a resort to measures of war in vindication of national honor.  That outrage is not only unatoned, but the Spanish government has deliberately sanctioned the acts of its subordinates, and assumed the responsibility attaching to them.

Nothing could more impressively teach us the danger to which those peaceful relations it has ever been the policy of the United States to cherish with foreign nations, are constantly exposed, than the circumstances of that case.  Situated as Spain and the United States are, the latter has forborne to resort to extreme measures.

But this course cannot, with due regard to their own dignity as an independent nation, continue; and our recommendations, now submitted, are dictated by the firm belief that the cession of Cuba to the United States, with stipulations as beneficial to Spain as those suggested, is the only effective mode of settling all past differences, and of securing the two countries against future collisions.

We have already witnessed the happy results for both countries which followed a similar arrangement in regard to Florida.

Yours, very respectfully,

James Buchanan.  J. Y. Mason.  Pierre Soule.

Hon.  Wm. L. MAECY, Secretary of State.

Unfortunately for Cuba the suggestions offered by this commission were not acted upon, although it is not probable that Spain, ever blind to her own interests, would have admitted the justice or reason of the argument, had the offer to purchase been made to her.

Exports and imports.

A table showing the amount of trade between Cuba and Spain during the year 1894 (the last authentic report), is instructive: