"Our relations with the other powers of Europe have experienced no essential change since the last session." -James Monroe
In my opinion, he said that our relationship hasn't changed but he wants to have no communication with them. James Monroe said this to show how Europe hasn't had a positive impact on America. Our relationship hasn't benefitted America and it would be best if we had no form of communication between the two countries. This was his opinion behind the idea of the Monroe Doctrine. Because of the Monroe Doctrine, European nations weren't allowed to make any colonies in the western hemisphere. America didn't advance because of their ties with Europe.
"Our country may be likened to a new house. We lack many things, but we possess the most precious of all - liberty!" -James Monroe
Monroe means that although the country has imperfections, we are free and that is the most important quality. America can improve as a country and though they may be new at being an independent, they can advance as a more complex nation. I interpreted the quote as him talking about how America will develop. He thinks that freedom was the most important issue and now that is conquered, we can improve upon America.
"Peace is the best time for improvement and preparation of every kind; it is in peace that our commerce flourishes most, that taxes are most ealiy paid, and that the revenue is most productive." -James Monroe
James Monroe said this in his Inaugural Address; he said that because America is free from Britain, America should now be peaceful. He wants to work on the issues and advance as a free nation. He desired a good economy and fair taxes. Though this did not happen, because the economy collapsed because of inflation. He lists his goals, and though he did not achieve them, they are important because you can see he wanted something better for the country.