PRESIDENT JOHNSON'S MESSAGE.

Southland Times, Issue 895, 7 February 1868, Page 3

PRESIDENT JOHNSON'S MESSAGE.

The President's message is a very lengthy document. The following synopsis, prepared by the Panama Mercantile Chronicle, will be found to embrace all its leading points : — A large portion is devoted to a review principally of the statement and views embodied in the veto message and various reconstruction bills. The President urges a repeal of all these measures, and a resort to the faithful application of the Constitution and laws, arguing against the capacity of the negro for self-govern-ment. He denounces the plan of putting the government of the Southern States in the hands of the negroes. He says they will cost 300,000,000d01s yearly to maintain the supremacy of the negro governments He refers to the recent elections as an additional reason for a change, of policy in relation to reconstruction. He has given much consideration to the question as to how far the President's duty to protect, defend and preserve the Constitution requires him to go in opposing the unconstitutional action of Congress. He has felt anxious te reach a proper conclusion to these serious and important questions. He says the Executive resistance to an act of Congress passed according to the forms of the Constitution might provoke civil war in times of high party excitement, which should only be resorted to as a last remedy ; but cases might occur where the Executive might be compelled to protect his rights regardless of the consequences. Por example, if the Legislature should undertake to abolish a co-ordinate department of the Q-overnment, the President must take the responsibility of his high office to save the life of the nation at all hazards. He thinks the [Reconstruction Acts, though plainly unconstitutional, do not warrant a forcible resistance on the part of the Executive. These wrongs may be redressed by ballot. T.ie recent elections show they will be. He then refers to frauds on the Treasury, and the temptation to corruption on the part of Eevenue Officers. He denounces the Tenure of Office Bill as a measure which prevents the Executive from the discharge of dishonest officials. He charges the immense revenue frauds as the result of the operation of this Bill. He says the President is made a common informer against dishonest officials, as the Bill takes away the power of removal. He thinks the President should be released from all responsibility if he is not allowed to make appointments at his own discretion. The danger to the public service comes from the power of appointment, not from the power of removal; therefore the Constitution left the power of removal unrestricted, while it gives the Senate the right to reject appointments deemed .unfit. A considerable space is devoted to questions of finance. He urges a speedy resumption of specie payments, denounces the present system of currency, and gives copious statisticts in regard to the production of gold and silver in the country. The facts and figures in regard to exports and imports, show that it will be a comparatively easy matter to resume specie payments. Hepronouncesadisordered currency the greatest of political enls. He says, of all the contrivances for cheating the laboring classes, none has been more effective than that which deludes them in tLe paper money. He expatiates at considerable length upon the evils of a depreciated currency, and advises the construction of an import law, "which will bear most heavily upon luxuries, and the reduction of the number of articles taxed.