'Article IV.' by E. Delony, of Louisiana, is the great political gun of the magazine, and inquires: 'What of the the Confederacy--the Present and the Future?' It is of course full of hope, bluster, and self-praise. 'Our armies,' says Delony, 'are not like the miserable hirelings of Lincoln--the scum of infamy and degradation--hunted up from the dens, sewers, and filthy prisons of the North, with the low vandalism of foreign importations, picked up wherever they can be found. Yet such are the creatures our brave soldiers have to meet. _Our_ armies are composed of men who have not volunteered for pay, nor for food or clothing!' Since copying this paragraph, it was recalled to us--within a few hours--by meeting some half-dozen of the 'scum of sewers' in question, in the persons of half-a-dozen young gentlemen, privates in a Massachusetts regiment, several of them college graduates--all of them sons of wealthy citizens and gentlemen. It would be interesting to ascertain, taking man for man, what proportion of the Southern and Northern armies are respectively able to read, or are otherwise personally familiar with the decencies and proprieties of civilized life. From this assumption of superiority Mr. Delony argues victory, asks, 'What about the peace?' and inquires if the Federal Government will offer to negotiate for it? 'We can _propose_ no terms, but we must _demand_ them. We desire nothing that is not right and just, and we will submit to nothing that is wrong. But no peace will be acceptable to the people that permits the Lincoln Government to hold its Abolition orgies and fulminate its vile edicts upon slave territory. Much valuable property of our citizens has been destroyed, or stolen and carried off by the invaders; this should be accounted for, and paid. The Yankees were shrewd enough to cheat us out of the navy, but we must have half of the war-vessels and naval armament in possession of the North at the commencement of this war. We should enter into no commercial alliances or complications with them, but assume the entire control of our commercial policy and regulations with them, to be modified at our own discretion and pleasure. They have closed against us all navigation and trade on the Mississippi, Missouri, and other rivers; it is our right and duty hereafter so to regulate the navigation of these streams as may best conform to our own interests. It can not be expected that we should permit the free navigation of the Lower Mississippi to the West after they have closed it against us above, without the most stringent regulations. There is no palliation in the pretense that the blockade above was a war measure; they can not so claim it unless we had been acknowledged as belligerents, and hence they have forfeited all right to free navigation as a peace measure. If, then, permission