The Sun.
London, England, 1866-03-03 00:00:00

President Johnson's Policy.

The New York Times sump arises the late expo-
sitions of the President's policy to the four delega-
tions which recently waited on him at the White
House, and fully endorses his position. The bur-
den of his remarks to the Western delegation, and
through them to the country, was as to the neces-
sity of constantly keeping in mind the broad vital
principles which lie at the foundation of the Re-
publican political structure. They are the principles
by which he has constantly striven to guide his ac-
tion ; and they are the principles to which the action
of Congress, the action of parties, and the action
of all good citizens should always conform. If any
measure contravenes them—if any policy is anta-
gonistic with their spirit, such measure or policy
should be abandoned. For these principles—
though they may not all be based on absolute po-
litical truth—are, whether judged by reason or by
their results, the nearest approach to political per-
fection of any governmental principles which in any
nation have ever been established. Moreover, they
are fixed in American institutions, and are intelli-
gently upheld by the vast majority of the people.
Whenever men would openly assail them, or in-
sidiously undermine them, the. President, as the
nation's executive and constitutional head, utters
his warning, and attempts to bring them back to
the great first laws of the nation's organic existence.
Those who think this course unnecessary or super-
fluous at the present time are careless stu-
dents of the events and doctrines cf the
day, and negligent of the inevitable tendencies
of some of them. Our contemporary is struck
with the intelligent and practical character of Mr.
Johnson's reply to the negro delegation (which we
published last week). Such a question as that of
the position of the negro race in the American poli-
tical and social system can neither be viewed nor
settled upon purely abstract theoretical grounds.
The circumstances of the past cannot be wholly
ignored ; the incidents of the present cannot be
overlooked ; the conditions of life and society, and
communities, must
and even the prejudices of
labour and development—the education, the senti-
ments,be taken into the account. This is the. philosophy
consti-
eodlitieneaclylife and
with
views as based upon mere ex-
pediency, .PthrestildleenntezJroochsnr inter-
viewannddwileiultuguhpoanbsintraheistiouistsmay stigmatise such
era t o n s
of ofouerxpp
political action.
pedieanfcuyn,
deaumeheneetaur elementd
oftu consti-
tute
wise

COURSE OF EXCHANGE—Last Evening.
.____.

Amsterdam Short. 11 18
Ditto 3 Montb.s. 12 2
Rotterdam
Antwerp
Brussels .......
HambuParis....
rg
Ditto...
.................
3 Months. 25 50
Marseilles
Frankfort on the Maine 121
Vienna. — 10 60
Trieste lO 60
__
Petersburgh
Berlin
Madrid
Cadiz
Leghorn
Milan
I—
,lif
222555 6611
Genoa
Naples 22
25 6
—......,

11 19
12 2*
12 2*
25 60
25 62f
13 10k
25 BO
25 55
25 55
121 f
10 65
10 65
29a
6 29}
4Ga
471
25 67}
25 67*
25 70
25 70

Mrs. Bigelow, the wife of the U.S. Minister at
Paris, has been very seriously ill of late.
A son of John Slidell is employed in Erlanger
and Co.'s banking office, in Paris.
General Fitz John Porter is still in Paris on
business, .connected with some of the Colorado Gold

Mines.
Mr. Murphy, the U. S. Consul-General at
Frankfort, has obtained leave of absence, and expects to
sail in the Germania from Hamburg on the 3d March
next. He will be absent about three months.
Over 140 Americans were present at the cele-
bration on Washington's birthday at Berlin. The meeting
was at Governor Wright's house, and was a very plea-
sant one.