Sir: The multiplicity of business which the Department of State has been charged with since her Catholic Majesty the Queen Regent, was pleased to intrust me with that office, has prevented my giving an earlier reply to the several applications which your excellency, in pursuance of instructions from your Government, has made to me respecting the importance and expediency, to use your excellency's own words, of a prompt and just arrangement of the American question. 

Her Majesty in her wisdom cannot but be aware of the advantages of being relieved from an uncertain position, and of adopting a definitive decision in regard to the vast territories alluded to; and, for my part, if my humble opinion be considered of any weight in determining the measures of her Majesty, I can assure your excellency that, as soon as the late King, Don Ferdinand, did me the honor to appoint me to this department, ten years ago, I called the attention of the Government to this interesting question, from the persuasion I was under of the injury and loss which would accrue from any delay in the settlement of it, and because it appeared to me quite practicable: at least, such was then my opinion, as it is now, to conciliate the interests of our brethren in South America with the interests of the peninsula, by the adoption of a basis reciprocally just and advantageous. 

For the accomplishment of this object, her Majesty's Government despatched at that period special commissioners, who were furnished with the necessary instructions, and were directed to announce a cessation of hostilities, and to propose, as a preliminary step towards the removal of all political difficulties, the re-establishment of the commercial relations of the two countries. 

The great events which soon after occurred, and which are too well known to require being recorded, prevented the fulfilment of the wishes then entertained by the Spanish Government; and this great and interesting question has remained in a state of suspense from that time to the present. 

The decision of it, however, is desired by the Queen Regent, who, in the government of this monarchy, is guided by principles of a liberal and enlightened policy; and her Majesty has accordingly authorized me to communicate to the diplomatic agents of Spain in foreign Courts, especially to those in Paris and London, the necessary instructions to the end that, if any commissioners present themselves with powers and instructions of a nature to offer to Spain a just and honorable arrangement, they may afford such commissioner all the facilities and guaranties they may desire, with the assurance that they will find her Majesty animated by the most favorable dispositions. 

Her Majesty has, at the same time, authorized me to make to your excellency this frank declaration, in order that you may communicate the same to your Government in returen for the wishes expressed by it of an early conclusion of this interesting question; and, as her Majesty feels confident, after consulting her personal feelings, without disregarding the suggestions of a sound policy, that nothing would be more easy than to effect a reconciliation of parties who, in all respects, may consider themselves as children of the same family, when ones they shall have consented to an interview, her Majesty entertains the hope that, as soon as negotiations may be entered upon in a spirit of sincerity and good faith, the object in question, which, as is expressed with much precision in your excellency's note, is "a mutual reconciliation and final conclusion of the differences of the parties on terms advantageous and honorable to all," will be completely realized.