April 15

My dear Walewski,
The two dispatches which I enclose from Stratford remind me that we have said nothing to Buol respecting the ports of ... and ... and I think we ought not to leave that matter unnoticed.
You are aware that the Austrians are erecting a formidable fortress at Cattaro which they call a miliatry port in order to exclude merchant vessels and they will thus obtain the exclusive command of the Adriatic.
Buol has made a formal proposal to ... for exchange of territory which (?) .. ... has refused.
The subject interests France more than us as we have little trade in those ports but we ought to project the Turkish territory and if possible secure access to the sea for the Turks.
Ever yours
Clarendon