Here are the matched parts of Washington's speech with the correct paraphrase of his meaning:
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"Europe has a set of primary interests, which to us have none, or a very remote relation. Hence she must be engaged in frequent controversies, the causes of which are essentially foreign to our concerns...."
- Paraphrase: Although Europe is always picking fights to promote her own interests, it is not going to help us to get involved in those fights.
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"The great rule of conduct for us in regard to foreign nations is, in extending our commercial relations, to have with them as little political connection as possible."
- Paraphrase: It is okay for us to trade with other countries, but we should stay out of their political conflicts.
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"So far as we have already formed engagements, let them be fulfilled with perfect good faith. Here let us stop."
- Paraphrase: We should keep any promises we have already made, but we should not make any new ones.
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"Why, by interweaving our destiny with that of any part of Europe, entangle our peace and prosperity in the toils of European ambition...?"
- Paraphrase: Does it make sense for us to risk our own well-being just because European countries are trying to build empires?