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Much speculation was indulged in Wash ington city at the latest accounts, as to the reason why the treaty of annexation was de- layed so long from the Senate The sugges- ton of our correspondent, that the delay is induced by the absence from the Capital of several Southern Senators, is probably the true explanation; though another correspon- dent writes us that the time required for CO., pying the documents intended to be trans mitted to the Senate in connection with the treaty, is the sole reason why the treaty is not sent in. The National EatcHgencer in- lers from the tardiness of the movement, the incubation of some new and desperate plot perhaps the s.springingn of the question on both Houses of Congress instead of on but one! Possibly this is. the case. Indeed, we have little doubt that if it appear improbable that the Senate will ratify the treaty, that an act of legislation will be introduced to the same end. We have no doubt of the com- potency of Congress, with the assent of Texas, to receive her into the Union, or to establish a territorial Government over her, which will probably be the better plan

 [,E 0. Bulletin.