Independently of the action of the Spanish American republics concerning the free navigation of their tributaries of the Amazon, we have a special treaty with Peru, negotiated by J. Randolph Clay, our present minister, in July, 1851, which entitles us, under the present circumstances, to the navigation of the Peruvian Amazon. The second article of that treaty declares that, 'The two high-contracting parties hereby bind and engage themselves not to grant any favor, privilege, or immunity whatever, in matters of commerce and navigation, to other nations, which shall not be also immediately extended to the citizens of the other contracting party, who shall enjoy the same gratuitously, or on giving a compensation as nearly as possible of proportionate value and effect, to be adjusted by mutual agreement, if the concession shall have been conditional.