The Sun.
London, England, 1862-12-16 00:00:00

may he properly deducted both from receipts and
expenditure.
A convention has been proposed to foreign Go-
, vernments to simplify the rates of foreivi post-
age and expedite foreign mails.
President Lincoln urges the early completion of
the Pacific railroad, and recommends the favour-
able action of Congress en projects for enlarging
the great canals in New York and Illinois. The
military and commercial importance of er .arging
the Illinois and Michigan canals is presented in a
report to the Secretary of War.
In accordance with the purpose expressed in the
second paragraph of the emancipation proclama-
tions of September last, President Lincoln call the
attention of Congress to what may be called com-
pensated emancipation. He then argues upon the
impracticability of disunion, and says
There is no line straight or crooked suitable
for a national boundary upon which to divide.
Our strife pertains to ourselves, to the passing
generations of men, and it cannot without con-
vulsion be hushed for ever with the passing of one

generation.
In this view the President recommends the
adoption of the following resolutions and articles
amendatory to the Federal Constitution:—
Resolved by the Federal Congress, two-thirds of
both houses concurring, that the following articles
be proposed to the Legislatures or Conventions of
the several States as amendments to the Federal
Constitution, all or any of which articles, when
ratified by three-fourths of these Legislatures or
Conventions, to be valid as part or parts of the
Constitution

First,—Every State wherein slavery now exists

which shall abolish slavery at any time before
January of the year 1900 shall receive the fol-
lowing compensation from the United States.
Presidents of the United States shall deliver to
every such State United States Bonds bearing a
certain interest for each slave known to have been
therein by the eighth United States Census ; these
bonds to be delivered to such State by instalments,
or in one parcel at completion of abolishment, ac-
cording as abolishment shall have been gradual or
at one time. Any State introducing or tolerating
slavery after having received these bonds shall re-
fund the bonds and interest to the United States.

Second,—All slaves who have acquired freedom
by the chances of war at any time before the end
of the rebellion shall be for ever free. Loyal owners
will, however, receive compensation. Congress
may appropriate money and provide for colonising
free negroes, with their consent, at places outside
the United States.

President Lincoln then enters into a long and
earnest argument to prove that the adoption of
these amendments to the Constitution are politic,
on the grounds of justice, economy, and interest,
and as I. means which cannot fail to restere the
Union. He, however, says that the plan is recom-
mended, not but that a restoration of the national
authority would be accepted without its adoption
nor would the war nor the emancipation proclama-
tion be stayed because of the recommendation of
this plan ; but its timely adoption would no doubt
bring restoration, and thereby stay these pro-
ceedings.

This plan would secure peace more speedily and
cost less than if force alone is relied upon. Many
objections may present themselves, but the ques-
tion is, can anything better be imagined or done ?

The Message concludes by saying that other
means may succeed—this could not fail. The way
is plain, peaceful, generous, and just—a way which,
if followed, the world will for ever applaud and
God must for ever bless.

QUEENSTOWN, DEC. 15.

The Royal Mail steamship Persia, from New
York on the 3d inst., arrived here at 1.15 p.m. She
brings 105 passengers and 550,267 dols. in specie.
She landed all mails and 35 passengers. Since the
6fh inst. she has been working with one engine
only, the other being disabled.

NEW YORK, DEC. 2 (Evening).
The New York Herald of to-day thinks that the
Radical party in Congress will not listen to Pre-
sident Lincoln's proposed amendment to the Con-

stitution.
The New York. World supports the President's

plan.

The Commercial Advertiser is surprised that Pre-
sident Lincoln's Message totally ignores all mili-
tary and naval sacrifices, and observes that it con-
tains not one word of sympathy for the past or
cheer for the future.

The New York Times says that the President's
proposal will not receive universal assent, and thinks
it doubtful whether Congress will pass the amend-