From this biography of James Madison:
"In July 1805 Monroe returned to Britain to negotiate a treaty, assisted by diplomat William Pinkney. However, the treaty was one of general agreement only and did not touch on two vital issues: a British blockade of French ports and the impressment, or forced induction, of American sailors into the British navy. It contained no concessions to the United States, and Jefferson wisely refused to submit it to the Senate for ratification.."
More detail about Jefferson's refusal of Monroe's treaty:
"...[David M.] Erskine was anxious for a reconciliation between England and America; he tried honestly and over zealously to bring the two governments into accord, but he found Madison not nearly so earnest as himself."
"The more closely the subject was studied, the more clearly it appeared that Monroe to all appearance knowingly embarrassed the administration by signing a treaty in contravention of the President's orders; but Jefferson added unnecessarily to his embarrassment by refusing the treaty before he read it."
"No act of Jefferson's administration exposed him to more misinterpretation, or more stimulated a belief in his hatred of England and of commerce, than his refusal to lay Monroe's treaty before the senate." [Source]