Mr. CLAY, upon formal invitation of that body, visited the Legislature of Kentucky on the 15th of November. He was welcomed by the Speaker of the House in some brief and appropriate remarks to which he responded at considerable length. He spoke mainly of the measures of the session in which he had borne so conspicuous a part. The session, he said, opened under peculiarly unfavorable auspices. The sentiment of disunion was openly avowed, and a sectional convention of delegates had been assembled, the tendency of which was to break up the confederacy. In common with others, Mr. Clay said he had foreseen the coming storm, and it was the hope that he might assist in allaying it that led him to return to the Senate. The subject had long engaged his most anxious thoughts, and the result of his reflections was the series of propositions which he presented to Congress soon after the opening of the session. A committee of thirteen was afterward appointed to which the whole matter was referred and they reported substantially the same measures which he had proposed. At that time he was decidedly in favor of the immediate admission of California into the Union as a separate and distinct measure; but subsequent observation of the hostility which it encountered led him to modify his opinions, and unite it with kindred measures in one common bill. In excluding the Wilmot Proviso, which had previously been the great aim and object of the South, they obtained a complete triumph--and obtained it, too, by the liberal, magnanimous and patriotic aid of the northern members. It is true they may never be able to establish slavery in any of this newly acquired territory; but that is not the fault of Congress, which has adhered strictly to the policy of non-intervention, but of the people of the territory themselves to whom the whole subject has been committed. The boundary of Texas gave rise to by far the most intricate and perplexing question of the Session. Various opinions were held in regard to it by various interests, and the matter seemed to him eminently one for compromise and amicable adjustment. We gave what seems a large sum (ten millions of dollars), to Texas for relinquishing her claim, but half this amount we owed her creditors for having taken the revenues to which they looked for payment of their debts. Mr. Clay said he voted the money very cheerfully, because he believed it would be applied to the payment of her public debt; and he wished that we had some legitimate ground for giving to every debtor State in the Union money enough to pay all its debts, and restore its credit wherever it has been tarnished. Of the fugitive slave bill Mr. Clay said simply that its object was simply to give fair, full, and efficacious effect to the constitutional provision for the surrender of fugitives. The act abolishing the slave trade in the District of Columbia, was of little practical importance to southern