The Sun.
London, England, 1865-02-16 00:00:00

THE SUN, LONDON, THURSDAY EVENING, FEBRUARY 16, 1865.

It is probable that neither President hoped mucl
from the interview, though LINCOLN was un.
doubtedly very anxious for a successful issue.
JEFFERSON DAVIS could not have expected a very
different result when he knew his own ultimatum
was one to which the North will never agree until
compelled by the force of circumstances. He was
willing on this occasion, as on every other, to
show his own desire for peace, and to silence
the disaffected party among his own countrymen by
meeting the Northern endeavours half way. Pre-
sident LINCOLN also had no doubt an arriere pensie,
in the hope of securing the support of the Demo-
crats for the further prosecution of the war. The
conference has been the all - exciting topic both
North and South, and the various conjectures and
opinions offered upon it afford a curious insight into
the state of public feeling. General LEE'S view of
the matter might easily have been guessed, but the
Sentinel says he has expressed himself in the follow-
ing decisive terms :—" Any compromise of our
struggle would only prove a truce or an armistice,
and would be an unmanly shrinking from present
duty that would entail upon our children untold dis-
aster." This is in fact the just view of the
case, and if the Confederates had surrendered
their claim to independence they would have had
matter for lasting regret. Let them rest upon that
one point, making everything else secondary ; let
them call out their negroes with the promise of
emancipation, and let them patiently abide the
issue. Their fortitude and their endurance, which
have been so severely tried, and which have stood
the test so valiantly, can surely abide the issue of
a few months.

In military spheres there is little immediate news
though there are indications that we may, now the
peace is set aside, expect a heavy battle, The
Southern forces are concentrating, with the view of
meeting SHERMAN, who boasts that his course is
hitherto unopposed. Gen. LEE has now the great
works in hand, the drilling of the negroes, and the
discomfiture of SHERMAN. The confidence mani-
festedin him by the Richmond Senate will strengthen
his hands for the former work, which will exercise a
vital influence not only on the present welfare of the
Confederacy, but on its future fortunes. The great
Army of the Potomac is said to be moving, no one
knows whither. It is likely that GRANT is con-
templating an attack on Wilmington, or, at least,
the despatch of more forces. As yet the situation
at Wilmington is unchanged, and LEE will not
allow the Federals an eau vitory. The Combahee
River has proved as formidable to FOSTER as to
SHERMAN and all his
attempts to pass it have been
repulsed. At present there is no more prospect of
Northern triumph than of Southern surrender.
--..

an important
ie French Legislature is always
Speech at the opening of
The FrencI;EMPEROR;
Apart from his great ability, and his
unquestionableit power for carrying
so happens that he
his designs into
execution, at the present time
is the ruling spirit of the
Continent, and, to all
the political drama of Europe. one
As some
truly
intents and purposes, the most prominent actor in
observed the other day, when any great crisis occurs
Or any national convulsion is expected likely to dis-
of power,
turb the peace of Europe and to unsettle the balance
every one asks, what will the French
EMPEROR do ? and what line will he pursue ? In
this instance, however, the Speech of the EMPEROR
is hardly so striking as usual in the enunciation of
bold sentiments, or in the shadowing forth of
important plans for the future. It is rather
lengthier than usual, and in its elevated style
and fully weighed Aentencee forms a marked

occurrence.

contrast to the weak and wordy phrases which
our Ministers, the present ones in particular, LATEST INTELLIGENCE,
seem to think sufficient to express the opinions of (REUTER'S TELEGRAMS.)
the Majesty of England, when convoking the Par-
liament of the session. Whatever the Emperor
NAPOLEON says, whether he wishes to enunciate a
theory or to gloss over a fact, is sure to be expressed
in the most terse form, and in the most graphic
manner. Perhaps the most important thing in this
eloquent discourse before us is, that it contains no
reference to America. This reticence is most
marked, and seems significant. It cannot be that
the EMPEROR fails to recognise the importance of a
struggle of such might and magnitude, or that he
does not recognise the crisis now impending. He
has doubtless wise reasons for his silence on this
topic, but not the less must the fact of his not com-
menting thereon occasion surprise. It may be all
for the best that such should be the case. Reserve
often indicates that much is kept in the back-ground
that it would not be prudent or politic to disclose in
a hurry ; and in the present instance we may augur
good from it, for the Emperor may be on the eve of
introducing some change that will contribute greatly
to settle that vexed question of strife which strikes
consternation into Europe, and is such a scourge and
desolation to the Continent of America. The igno-
rant and uninitiated, who have been looking for this
Speech to clear up doubts, may regard it as
" Hamlet," with the part of the hero omitted ; but
those who are familiar with the depth of the EM-
PEROR'S policy will think very differently, and regard
his non-mention of America as no sign that he over-.
looks so vast a subject, or considers the interest of
France not to be involved in its speedy and satis-
factory settlement. The Speech adverts to the dis-
turbance of the peace of Europe which has taken
place since the period of the meeting of the Legisla-
ture last year. We can sympathise more with the
expressions of regret that are made on the other
side of the Channel than among ourselves, for there
is no doubt that if the views of the Emperor had
been carried out, there would not have been a war
between Prussia and Denmark. The Congress to
which he looked forward with hope did not take
place, and the comments passed by him on subse-
quent occurrences are as true as they are unsatisfac-
tory. " The sword often severs questions without
settling them," is a very appropriate remark on the
state of affairs between the allied Powers of Ger-
many and Denmark and the Duchies, and a settle-
ment has certainly not yet been reached.
The EMPEROR speaks confidently of the future
settlement of the Italian question. He says that
the " provisional and precarious state of affairs
which excited so much alarm will soon terminate."
The Convention is pronounced to be a work of
peace and reconciliation, and not a weapon of war.
Doubtless many will rejoice to hear such a favour-
able construction put upon occurrences that have
caused so much apprehension, for the EMPEROR is
too wary to compromise himself by uttering opi-
nions not likely to be fulfilled by experience. The
general tone that pervades this Speech is that of
satisfaction regarding all matters with which France
is immediately or remotely concerned. The state
of Mexico is productive of congratulation, and cer-
tainly the solution of the difficult problem of how
to settle affairs in that part of the world reflects
great credit on the foresight and wisdom of the
ruler of French politics. He adverts to the suc-
cessful issue of nearly all their expeditions, and adds
that upon closing the Temple of War on their
return they may with pride inscribe upon a new
triumphal arch—" To the glory of the French
armies, for the victories achieved in Europe, Asia,
Africa, Spain, and America."
The labours of peace occupy a considerable por-
tion of this address, and it may cause many to
speculate upon the chance of our at last realising
the truth of the memorable and emphatic declara-
tion of long ago—" L'Empire c'est la paix." The
development of public instruction rightly engaged
the attention of the EMPEROR, and his liberal views
and comprehensive notions on this subject must
surely satisfy the most scrupulous, and content the
most eager. He says that "in a land of universal
suffrage every citizen ought to know how to read
and write." This is a sentiment that does honour
to the policy and credit to the taste of him who
utters it, and is sure to command the admiration,
and awaken the sympathies of the French people,
while it wins the respect of the other nations
who hear it. The desire expressed to diminish the
obstacles that have so long militated in France
against " individual enterprise," is a proof that the
EMPEROR recognises an important want in French
society. It is precisely in this that the great dif-
ference exists between English and continental life.
The projects in view to impart greater liberty to
commercial associations are sure to be favourably
regarded,and, if they can be carried out, will
bestow an
incalculable benefit upon France, and in-
crease the influence of the people. The removal of
the obstacles which interfere to prevent the forma-
tion of societies for the benefit of the working
classes is promised ; and here, again, we have the
prospect of a new and better era dawning upon
the people. The Communes and Departments
transacting their own affairs, will be a
successful and satisfactory attempt to carry
out the principles of this reform. The Treaty
with England which inaugurated Free Trade has
been followed by similar arrangements with other
nations ; and the Emperor adverts to the necessity
that exists for extending the same principles to
maritime commerce. The reforms in French law
which were alluded to seem very satis-
factory ones. The EMPEROR concluded his able
and eloquent address by advocating the principles of
Peace, and trusting that the voice of France would
not be heard abroad " save for right and justice."
This final sentence is eminently characteristic of a
ruler who makes a study of his duties, and blends
philosophy with politics. " Progress is not the
realisation of a more or less ingenious theory, but
the application of the results of experience, hallowed
by time, and accepted by public opinion."

THE BRAZILS.
CAPTURE OF PAYSANDU.
(By Telegraph from Lisbon.)
RIO JANEIRO, JAN. 24.

Paysandu was taken by the Brizilians on the 2nd
inst., after a sanguinary conflict which lasted fifty
hours. The losses were heavy on both sides, in-
cluding several Generals killed.
Great mortality was found to exist in Paysandu
on the capture of that city by the Brazilians, on
the 2d January.
The Brazilian army is marching upon Monte

Video.
The Diplomatic Corps have taken an energetic
eourse in presence of these events which threaten
the tranquility and commercial interests of that

city.
The forces of Paraguay have taken Fort Co-
rumbra, in the province of Matto Grosso. It is
believed that they have also captured Forts
Mirande and Dovrado.

The Oriental Government have appointed a com-
mission to solicit the mediation of France in the
question with Brazil. The commission proceed to
Eurolae in the Guienne, the outgoing French

steamer.
COMMERCIAL INTELLIGENCE.

Exchange on London, 50 to 50k.
Wet salted ox hides, 34k. Lumber, 35, very dull.
Flour nominal. Refined sugar in demand—prices
improving.

THAMES AND MERSEY MARINE INSURANCE COM-
PANy.—At the fifth ordinary general meeting of
the Thanes and Mersey Marino Insurance Company, held
to-day, the report was read, which recommended a pay-
ment of 6s. per share, free of income tax, being 2s per
share dividend, or at the rate of 10 per cent. per annum
(the same as paid to 30th June last), and 4s. per share
bonus, making in all 20 per cent. per annum on the paid-up
capital of the company for the year 1864 ; and that the
board be empowered to pay a dividend at the rate of 10
per cent. per annum on account for the half-year ending
30th June next, should they then deem it expedient.

(REUTER'S TELEGRAM.)
ARRIVAL OF THE HIBERNIAN.

FAILURE OF THE PEACE NEGOCIATIONS.
The Montreal Ocean Company's steam ship
Hibernian, from Portland on the morning of the
51h inst., arrived at Greencastle at 6.30 p.m. to-
day, 15th inst.

(Via Greencastle.)
NEW YORK, Feb. 3, Evening.
The House of Representatives has passed the
bill for the construction of a ship canal around the
Niagara Falls, and also for the Illinois-Michigan
Canal. The latter will enable gunboats to pass
from the Mississippi to Lake Michigan.

NEW YORK, Feb. 4, Morning.
The Senate has passed the joint resolUtion, de-
claring Virginia, North and South Carolina,
Georgia, Alabama, and Tennessee not entitled to
representation in the Electoral College.
President Lincoln and Mr. Seward returned to
Washington this morning. The Southern commis-
sioners returned to Richmond last night. The
journals continue their speculations on the peace
question.
The New York Times says it would be too much
to believe that the conference would result in the
immediate cessation of hostilties, but it would be
unwarrantable to predict that the conference had
proved entirely fruitless.
The Herald is apprehensive that the chasm be-
tween submission and recognition will be found too
wide to be bridged over at a peace conference with-
out further aid from Grant and Sherman. It thinks
that Mr. Davis is playing a game of diplomacy,
and has not clothed the commissioners with any
discretion except upon the basis of Southern inde-
pendence, and fears that the conference will end in

smoke.
The Daily News says :—" Mr. Lincoln would not
have hastened to meet Stephens, whom before he
had rudely rebuffed when on a similar mission, un-
less he had known that a few months would witness
an armed European intervention in behalf of the
South. The French tricolour can be seen on the
horizon hastening to blend with the stars and bars
in the question. Lincoln has to answer this—
Shall the North fight France in alliance with or in
antagonism with the South ? Upon Lincoln's
answer depends the future of Republicanism on
the American continent."
The Washington Chronicle, the semi-official organ,
contains an article, to which much significance is
attached, urging the abandonmentkof the confisca-
tion law, and making the amnesty proclamation
general and without exception. It asks if the North
is afraid to admit its countrymen, submitting to the
constitution and obeying the laws, to all privileges
of the Union, or shall the rapidly demoralising
rebel army be allowed to be reinforced by the mil-
lions of Napoleon and Maximilian.
The Washington correspondent of the New York
Tribune says—" The Radical portion of the Repub-
lican party in Congress are rapidly falling into rank
against Lincoln's peace expedition. The senators
denounce it with unsparing severity, and the Con-
servative Republicans are filled with anxiety at not
knowing the motives or seeing the necessity of Lin-
coln's journey. Its suddenness alarms them, its
secrecy awakens suspicion both in the Senate and
the House of Representatives."
To this end a court of senators to be relied on
has been informally taken to vote against any ar-
rangement with the South that may contravene or
materially exceed the policy of the reunion of the
states and the freedom of the slaves. All parties
will await the result of the conference.
The Washington correspondent of the Herald
says a change has taken place in the tone of the peace
Democrats in Congress. Heretofore they scouted
the idea that the rebels would negotiate on any other
basis than the recognition of their independence,
but they say they were mistaken. The matter is
more serious than they supposed, and they consider
there is a prospect of a settlement without recogni-
tion or further fighting.
The same correspondence says the Secretary of
War has hitherto opposed negotiations on any other
basis than unconditional submission. Yesterday,
when in conversation with a member of Congress,
he conveyed the idea that there was a probability of
an early and amicable termination of the war.
The Daily News Washington correspondent says
" it is well understood in that city that the Confede-
rate Government has received an assurance of an
early French recognition." The object of the com-
missioners from Richmond was to give Lincoln a
chance to anticipate Napoleon's action by granting
the recognition offered by the French.
The situation at Wilmington on the 30th ult.
was unchanged.
The Confederates were still in force in the Federal
:ront.

General Grant, whilst at Fort Fisher, had an in-
terview with Admiral Porter and General Terry.
The guerillas continue active in Kentucky.
It is reported from St. Louis that there is dis-
affection among several Confederate generals in the
South-west.
The Maryland, Pennsylvania, and Massachusetts
Legislatures have ratified the constitutional amend-
ment abolishing slavery. It has been also ratified
by the New York Assembly.
The provost marshal general has written a state-
ment that the large quota of troops demanded from
New York is correct.

NEW YORK, FEB. 4, 7 p.m.
Mr. Sumner has proposed the following resolu

tions in the Senate :
" Resolved,—That all acts of the executive and
legislature, in pursuance of the constitution, and of
treaties made under the United States authority,
are valid throughout the United States, although
certain rebel states fail to participate therein. That
the same rule is equally applicable to a constitutional
amendment.

" Resolved,—That the constitutional amendment
abolishing slavery will be valid as part of the con-
stitution whenever ratified by three-fourths of the
states, de facto, exercising the powers and preroga-
tives of the United States under the constitution.
" Resolved,—That any other rule requiring the
participation of the rebel states, while illogical and
unreasonable, is dangerous in its consequences, in-
asmuch as all recent proclamations, including the
emancipation proclamation ; all recent treaties, in-
eluding the treaty with England for the extinc-
tion of the slaVe trade ; and all recent acts of Con-
gress, including those creating the national debt,
have been made and ratified without the participa-
tion of the rebel states. Any other rule must tend
to postpone the great day when the prohibition of
slavery will be valid as part of the United States
constitution, but the rule here declared will ensure
the immediate ratification of constitutional amend-
ments."

In the House of Representatives, Mr. Ingersoll
asked permission to offer a resolution, declaring
that as informal negotiations are now pending be-

tween the United States and the so-called Confede-
rate States, it is the emphatic and deliberate opinion
of the house that no peace can be made to recognise
the traitorous leaders of the rebellion, as they are
not entitled to equal rights and immunities with
loyal citizens.
Mr. Stephens said that he was informed that no
negotiations were pending, as the contracting par
ties had separated without anything admissible
having been presented.
Mr. Fernando Wood said—lf, as reported, the
peace negotiations have failed in consequence of an
indisposition on the part of the rebel authorities to
return to their allegiance and duty, and because
they refuse to unite on the basis of the constitution
so far as they represented the peace sentiment, he
would not sustain them in their position. If the
President threw the door open and the answer was
separation and recognition and nothing else, so far
as his efforts were concerned he should aid in con-
quering the enemy's country and obtain by force
what they were unable to obtain by peace.
The latest accounts from General Sherman state
that he was still advancing into South Carolina.
All soldiers in the Add hospitals of the array of