The Express.
London, England, 1867-12-04 00:00:00

LATEST INTELLIGENCE.

AMERICA.

PRESIDENT JOHNSON'S MESSAGE TO
CONGRESS.

(ET ATLANTIC TELEGRAPH.)
NEW YORK, DEC. 3.
The following is a summary of President Jolui-
son's message to Congress :
The expectation of an easy restoration of the
Union has been disappointed by congressional legis-
lation. No Union exists as our fathers understood
it ; but he still hopes that all will finally concur in
a settlement consistent with the country's interest
and the constitution.

Mr. Johnson urges Congress to repeal the act
placing the south under military rule—a rule
which if continued, will increase taxation, and may
finally produce national bankruptcy. A standing
army and an expenditure of over two hundred
million dollars per annum would probably be re-
quired to maintain the supremacy of negro govern-
ment.

Referring to the extent of the executive duty to
oppose unconstitutional legislation, Mr. Johnson
says that if Congress should pass an act, even
through all the forms of law, to abolish a co-ordi-
nate department of the government of the country,
the President must take the high responsibility of
his office to save the life of the nation at all
hazard.

With regard to the currency question, Mr John-
son says that a return to specie payments is the
obvious duty of the government at the earliest
moment consistent with sound principles of
political economy. A reduction of the cur-
rency need not necessarily follow. A sound
currency should be restored, and the public
faith regarding the debt should be sacredly
observed. A return to specie payments would
remove the prejudice which may arise against
paying the earnings of the masses and the bond-
holders in a currency not uniform.

Treating of the finances of the country, the
message states that last year the receipts were 490
million dollars, and the expenses 346 millions.
According to the estimates, next year's receipts
will be 417 millions, and the expenses 393 millions.
The War Department estimate is 77 millions.
Alluding to foreign affairs, Mr. Johnson states
that no question has seriously disturbed the
country's foreign relations. The Alabama claim is
still unsettled, and Mr. Johnson says he felt it
his duty to decline arbitration in the matter,
because, as hitherto proposed, it would be accom-
panied by reservations incompatible with the rights
and interests of the country. Mr. Johnson adds :
—" No apprehension need be felt that Great
Britain will persist in refusing to satisfy these just
and reasonable claims, involving, as they do, the
principle of non-intervention, which henceforth is
not more important to America than to other
nations."

The message further announces that a treaty has
been concluded with Denmark for the cession to
the United States of the islands of St. Thomas and
St. John.

Mr. Johnson also urges Congress to declare
that the naturalization of a foreigner as a citizen
of the United States absolves the recipient from
allegiance to the Sovereign of his native country.
The report of the Secretary of the Treasury sent
to Congress estimates the receipts for the three
quarters ending in June next, at 296,000,000 dots.,
and the expenses at 295,000,000 dots. The receipts
for the year ending in June, 1869, are estimated at
381,000,000 dole., and the expenses at 372,000,000
dots. The public debt has been reduced by over
69,000,000 dots, since November last.
The Secretary of the Treasury strongly advocates
a contraction of the currency, the payment of the
principal of the bonds in gold, and the continuance
of the national banks. He also recommends the
conversion of the whole of the national debt into
six per cent. bonds, redeemable in twenty years ;
the government to retain one-sixth of the interest,
with the view of distributing it proportionately
among the different states, instead of allowing the
states to tax the bonds.
COMMERCIAL INTELLIGENCE.
NEW YORK, Die. 3, 6 rm.

Closing Friona :—Gold, 137. Sterling exchange
on London, 109 i. 5-20 United States Bonds,
108 ; Illinois, 134 ; Erie, 711. Cotten : Middling
Upland, 16. _ . _

. .
PHILADELPHIA, Dsc. 3.
Petroleum : Standard white, 23.

THE STATE OF ITALY.

The Roman correspondent of La Liberte writes :

The state of public feeling in the late kingdom of the
Two Skilies is occupying the attention of the papal court,
and the friends of Francis 11., General Ulla& and some
others, are endeavouring to obtain a promise of the neutra-
lity of France in the event of insurrection breaking out in
Naples, and proving favourable to the restoration of the
ez-King of Naples. Ido not share in the illusions of the
Bourbon party, but from information derived from a good
source I do not think things can go on much
longer as they have done. In Naples and Sicily
the government of Victor Emmanuel has but few partisans.
The town population is in favour of • republic ; the peo-
ple of the country, the clergy, and the nobility, are in
favour of Francis 11. The Italian government hope to be
able to put down the population of the large towns by the
troops, which are at this moment being mobilised, but it
will be difficult to suppress a rising in the distant pro-
vinces in the mountains of Calabria, where a jaquerie
is said to be imminent. It is said that Mazzinian enrol-
ments which are going on in the provinces of Ricti and
Orvieto are connected with the /aquatic in question. The
authority and prestige of the monarchy have fallen so
low that any event may be expected in Italy.

The Florence correspondent of the same paper
writes :

Domiciliary visits and arrests, and nothing else, are
talked about here. The Minister of the Interior arrests at
the Wile time Capaelnea and Mazzinianc The ministerial
journals report that the visit to the Chartreuse of Flo-
rence lasted for 36 hours. Several Carthusian were ar-
rested. Amongst the popery found was an investment of
6,0001. in the Italia funds.

The Naples correspondent of the Debats writes :

The Bourbonians have distributed • proclamation
amongst the national guards calling on them to pat an end
to Italian unity. In the hoe of These menifestations it is
not to be wondered at that the ministry are engaged in re-
organising the army which hes been weakened very much
of late. Brigandage has re-appeared. There are at this
moment four band' in the Terra de Levan, near the
Boman frontier.

The Italia of December 1, says :
Important arrests were effected to-night. Amongst the
arrested are several members of • Marrhtian committee
In Florenoe. A seism* of arms ie also add to have been
made.