LATEST AMERICAN & EUROPEAN NEWS VIA PANAMA.

Southland Times, Issue 630, 11 February 1867, Page 2

LATEST AMERICAN & EUROPEAN NEWS VIA PANAMA.

"We extreet the following latest items of intelligence from the Panama Star and Herald, of the 26th Dec. :— The Special Correspondent of the Star and Herald writing from New York, under date the llth Dec. says : — Congress met on the 4th inst., and no sooner were its doors opened than the Eadical Senators and Eepresentatives commenced an active crusade against the President, and they continue to keep it up with a will, evidently being determined to "rule or ruin." Mr Thaddeus Stevens declared that he had been altogether too conservative at the last session, but during the present one he intended to be decidedly Eadical. Bills have been introduced to take away the pardoning power of the President ; to prevent him from making appointments to and removals from ofiice without the consent of Congress ; to force the Secretary of the Treasury to make weekly sales of gold. whether it will be beneficial to the government to do so or not, and various other bills showing small and petty spite against the President and his administration, altogether unworthy of men claiming to be enlightened statesmen. They are so afraid of the President that they have passed a resolution to keep Congress in continuous session. Therefore they will not adjourn on the 4th of March, as has been the custom of the country ever since the government was formed, but keep on "legislating" indefinitely. Heaven help the people ! The President sent his message into Congress on the 4th inst. He says : — After a brief interval, the Congress of the TXuited States resumes its annual legislative labors An all-wise and merciful Providence has abated the pestilence which visited our shores, leaving its calamitous traces upon some portions of onr country. J Peace, order, tranquility and civil authority have been formally declared to exist throughout the whole bf the United States. In all of the States civil authority has superseded the coercion of arms and the people, by their voluntary action, are maintaining law and order. He adheres firmly and closely to his policy for the re-construction of the TJnion and urges it with renewed vigor upon the attention of Congress. He then goes on to say : — " I deem it a subject of profound regret that Congress has thus far failed to admit to seats loyal Senators and Eepresentatives from the other States, whose inhabitants, with those of Tennessee, had engaged in rebellion. Ten States, more than one-fourth of the whole number, remain without representation. The seats of fifty members of the House and twenty of the Senate are yet vacant, not by their own consent, not by a failure of election, but by the refusal of Cougress to accept their credentials. Their admission, it is believed, would have accomplished much towards the renewal and strengthening of our relations as one people, and removed serious cause for discontent on the part of the people of these States. It would have accorded with the great principles enunciated in the Declaration of Independence that no people ought to bear the burden of taxation, and yet be demed. representation. It wqblq hwe

been consistent with thd express prori* sions ofthe Constitution that each StatA should have at least one Bepresentative, and that no State, without its consent, shall be deprived of equal suffrage in the Senate. Theße provisions were intended to secure to every State the right of representation in Congress, and so important was it deemed by the trainers of fche Constitution that the equality of tho States shall be preserved in the Senate, that not even by an amendment to tho Constitntion can any State without its own consent be denied a voice in that branch of the national Legislature. .It hasbeen assumed that- these States by rebellion became Territories, but all de- .. partments of the Government with great distinctness refused to sanction an assumption so incompatible with the nature of our republican system, and the professed objects of the war. Throughout the recent legislation of Congress, the undeniable fact makes itself apparent that these ten political communities are nclhing less than States." The Seoretary of the Treasury in his . report says that the debt of the country on the 31st of October last was §2,681,636,966 34c, and he estimates that the receipts for the current fiscal year will exceed the expenditures by the sums of §35,752,853 63c. The whole question of "the reduction of the debt is forcibly argued by the secretary ; tho subject of specie payment is discussed ; and the following suggestions are offered to remedy the mischief caused by the fluctuaing basis of values : " First, in compelling the national banks to redeem their notes at the Atlantic cities, or what would be better, at a single city. Second: In a curtailment of tno. currency to the amount required by legitimate and healthful trade. Third, in a careful revision of the tariff, for the purpose of harmonizing it with our internal taxes, removing the oppressive burdens now imposed upon certain branches of industry, and relieving altogether, or greatly relieving, raw materials Irom taxes, in order that the product of labor may be enhanced and production and importation increased. Fourth : In the issue of bonds, payable in not over twenty years, and bearing interest at tho rate of not over five per cent., payable in England or Germany, to an amount sufficient to absorb the six per cent., bonds now held in Europe, and to meet t§e demands there for actual and permanent investment. Fifth : In the rehabilitation of the Southern States." He expresses the opinion that specie payments should flic resumed as early as the first day of July, 1868. Of the operation of mint, he says: The total value of the bullion deposited at the mint and branches during the fiscal year was $38,947,156 88, of which $1,723,516 71 in silver. The report of the Secretary of war states that the aggregate strength of the regular army, on a peace footing, will be , 54,302. In addition to the regular troops, whose ranks are not yet fully recruited there is still in service a volunteers force of 11,043, mostly colored. The Secretary states that, in case of emergency, it would be eawy to raise, organize, and put in the field aii army "of '"" a million men. The report of the Secretary of the Navyshows a total force of 278 vessels, carry- ' ing 1.351 guns, of which 115 vessels, carrying 1,049 guns, are in commission. The number of seamen in service is set down at 13,600 men. The secretary recommends the establishment of a navy yard in the Gulf of of .Mexico, and of a depot for iron clads at League Island, near Philadelphia. The Postmaster-General's report shows, as usual, an excess of expenditures over receipts, and states that postal treaties have been negotiated with the new Kingdom of Italy and the Empire of Brazil. A mass" welcome was given to tho Eadical Members of Congress on their return to Congress on the 4th inst., in which was included a procession of white and colored men and a grand banquet, at which speeches were made by Speaker Colfax, Thad. Stevens, John "W. Forney, Charles Sumner, and several other " stars" in tbe Eadical firmanent — all of which were full of bitterne&s towards the President.