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A LATE MESSAGE PROM THE PRESIDENT, sent to Congress on the l4.h February, con iains matter of much importance, which we shall endeayor to condense for ihe benefit of our readers, no. being able to publish il en- tire. An honorable peace has been rendered to Mexico. while nothing was abated so far ss vigoroas prosecution of the war was concerned The system adopted by the go- vernment as..heen to advance with thc sword and scales Of justice in one hand, and the olive branch in the other, and upon this point no indecisiou or inactivity has been permit- ted. Ten regiments will be raised, and or- dered to the seat of war without delay, and . law Is required, giving authority to the President, to make appointments of Major Generals and Brigadier-G Generals, with the sanction of the Senate the present num- Der of such officers not being more than the service demands.

 1t is recommended that law. authorizing the re-engsgement of volunteers at the ex- piration of their term of service, as the best volunteer force Tor rprnseculiDg lhe campaign, should their services be required. Hav- ing become acci;maiet, and experienced, Us troops, their services would be greatly pre- ferable to any new corps When volunieers were received no provision was made for filling vacancies in the several regiments. and there was now more than one hundred va csncies among the field officers, for, although in some instances, appointed by State authori- ties, few have been filled. IL is, also, pro- posed, that when company officers die, or become un6, for service, that provision be made for filling their places.

 To maintain the public honor and credit of tho rountry, ii is recommended that duty bs levied upon sugar and coffee. as very moderate one would produce revenue ui two and half millions annually, to be im- posed only until the war is over. For the purpose of increasing the revenue half mil lion more, graduation in the price of pub lie lands, is again suggested, as such rsve- me would greatly facilitate the negotiation, should u become necessary, of the loans au- thorized by Congress.