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The President's Proclamation.

The President has "modified" Gen. Hunter, but in so doing, much as the act per se suits doughfaces and traitors, it fails to satisfy them as fully as they would like. He tells them in effect that the proclamation business has been overdone, and that in the future he will attend to it himself; also that the question of right to free slaves he will consider at the proper time. And then he improves the occasion to ask Border State slaveholders to heed the "signs of the times," (two proclamations significant signs) that if they will heed them they will be far better off, and that the emancipation resolutions recommended by himself and passed by Congress should be their guiding star in order to set their houses in order.

We can almost thank Hunter for his miserable blunder in issuing his unauthorized proclamation now that it has brought out such a document from the President. It will do a vast deal to stop the mouths of the Kentucky clique, much of whose Unionism is because of the Union's supposed shield to slavery. They are officially told that slavery is tolerated in order to be quietly rid of it — not because of its wisdom, economy or Christianity. The real Union Border men will be strengthened and encouraged by this proclamation, for they are at heart and soul for emancipation, but the Wickliffes and Saulsburys will probably refuse to be comforted — just as is the case with the Herald, which thinks that to take a nigger from his secesh master by law or military power is the greatest of political crimes.