The New York herald., 1865-02-15

could close Il with< better ships They win
doubtless, therefore. trX more desperate game
By this means they hopA TO make great scare
at the North, and also, no doubt, to revive the
dropping spirits of the South.
But the remedy is in our OWn hands, and 1t Is
for tho Navy Department TO use 1t properly.
The timely and judicious distribution OF our
large iron-olad navy at all threatened points
on the coast, and especially at the greater har-
bors, will be the only proper provision against
the Stonewall and tho Rapidan. Our numberiess
swift blookaders should1be siready securing the
sea to give timely intimaton of tho approach of
tho enemy, and our iron-clads should already
be q, rossss to their various positions. Then we
oan welcome the new oomers as additions to our
own n.vy, for repulse anywhere is equivalent
to their capture, inasmuoh a. they have only
enough coal 10 cross the Atlantic, and without
coal will be mere helpless masses of metal
Tho spanish-Peruvian DimeuItv-Finsl
settlement OF tho Question.
We yesterday announced the interesting fact
that the long-standing difficulty which threat
ened bloody war between Spain and Peru
had been finally and satisfactorily arranged.
The news was important in every respect, but
especially so because 1t came to rs through
private and reliable sources, totally indepen-
dent Of the Pacific mails, and long before the
information ceuld have reached any other paper
In this city.
Following fast upon our announcement Of
this arrangement, the California steamer yester-
day arrived, bringing full confirmation Of
all the news even to Its most minute details.
Thus the Spanish-Peruvian question has been
disposed Of and the Chincha Islands-the great
guano deposits and sources Of the revenue Of
Peu-will be shortly returned to the care Of
their proper owners It Is, however, to be
regretted that in the settlement Of this question
Peru has apparently not sustained the spirit Of
determination evinced by the people Of the
other South American republics, and especially
Of 81. Domingo. In the one case-that Of the
Dominicans-every offer Of compromise on the
part Of the Spaniards was Indignantly rejected,
and the matter in arbitration finally settled
by the swords of the patriots Of that
land; In the other-the case Of Peru
every demand Of Spain has been con-
ceded, and war has only been obviated by a
sacrifice Of the highest principles Of national
honor. At least the matter thus appears in the
construction of our present information.
Further details may place the people Of Peru
in a more dignifed light In the meantime the
Spanish Admiral Pareja, emboldened by this
small triumph Of diplomacy rather than Of
arms, has threatened to visit condign punish
ment on the Chileans for some alleged breach
of faith arising out of the original difficulty, and
to seize the islands Of Lota and Caldera until
he obtain satisfaction. We shall soon see
whether the valiant Spanish sailor will carry
out his threst-a matter very doubtful indeed.
In the meantime it is the duty Of the South
American republics to combine for mutual de-
fence, as the only sure means Of defeating the
purposes Of their European enemies, whose
designs are confessedly to divide and destroy
them; and unless they do 80 at once their op-
portunity will soon be lost forever.