The New York herald., 1865-02-03

that much may be saved BY Submission which
will be lost from further resistancp; that, in
short, as the continuance Of the war viii only
magnify the losses Of the rebeIlious Sttes In the
slaughter of their able-bodied men, and still
widen over the South the area Of devastation,
ruin and confusion, and all to no purpose, the
time has come for serious negotiations for peaoe
upon the best terms that can be obtained.
II is probable, too, that Davis may have
seized upon the idea that with the army Of Gen.
Lee still intact behind him, some valuable con-
cessions in behalf Of peace may be secured,
and some points Of honor gained, which will
be utterly lost in first hazarding everything In
struggle on the part Of Lee against the en-
veloping armies Of General Grant From such
Q struggle It Is plain that destruction or dis
solution will be the fate Of Lees army, and
then the only alternative to Davis will be an
ignominious flight, leaving to Lee all the honors
of the Office Of peacemaker. Why, then. while
Davis may yet command the moral support Of
Lees army, why should he not use 1t in behalf
of peacef The answer to this question is
doubtless involved In the peace commission Of
Stephens, Hunter and Campbell. True, the
Richmond journals still CRY for war and indie
pendence; but it is In q subdued tone of voice,
which is very suggestive. II is true that the
Solons of the rebel Congress are legislating for
tho arming of their negroes; but in their de-
bates upon the subjeotthey betray the fact that
their apprehensions are greater than their
hopes. Even In their oft-rcpeated ultmatum
of late of independence or subjugation they
unwittingly confess that they have no longer
the power to check the advancing armies of the
Union.
What el-e, then, cap these people do than sub
NIT TO the Union? The thing is inevitable, and
the sooner the better. All hope of foreign in
tervention they have themselves dismissed.
They complain that they have been betrayed
by England aud France, and that the South, in
returning to the Union, will at least find some
measure OF satisfaction in turning against them
in the enforcement of the Monroe doctrine. To
this we answer, even SO let it be, and all the
people will say Amen. But King Cotton has
also beuayed his deludod subjects, and has lost
his Southern crown, by dabbling in this rebel
IoH. Ming ki0Sciys Wv, hoo UOOu AOniAuiAy
beaten and badgered about, and kicked and
cufred on every side, until finally Congress has
interposed and banished him. As they now
stand, If the people of the rebellious States de-
sire to save anything from the wreck and rui n
Of the war; II they wish to save themselves,
their sons In the field, their cotton in store,
their plantations and stock, and their negroes
under any sort of discipline, they will make
peace now. They will submit to manifest des-
tiny" without further challenging the strong
hand Of subjugation. They will return to the
Union at once, SO that without loss Of time they
may proceed to reorganize their social system
and their laboring race, 80 as to conform to the
new order Of things before them.
Taking all these things into the estimate, We
cannot doubt that peace is near at hand. It is
possible that President lincoln and Mr.. Seward
may open the door in manner acceptable to
the fastidious Southern independence croakers
at Richmond. Otherwise, Grant, Sherman,
Thomal and Sheridan, will bring such arguments
to bear as will speedily make peace commits
sioner of cy J remnant Of the Southern oon-
federacy.