determined to succeed. For the security of their slave property and the peaceful continuance of the institutions which sustain it, it would have been far better for them had they been thoroughly beaten and effectually put down at the very beginning of the war. There might then have been a chance for slavery to escape, at least for a while. Now it must be admitted there is hardly the vestige of such a chance. It is almost alike certain that slavery has been shaken to its very foundations in every State, whether the rebellion shall now either succeed or fail. The rebels have been wrong in all their calculations. Exactly the reverse of their aims and expectations will be the reward of their treason. They sought to overthrow the Government in order to perpetuate slavery; they have only succeeded in overthrowing slavery, to the certain strengthening and probable perpetuation of the Government they hate. The leading rebels, occupying the seats of usurped power in their ephemeral confederacy, have succeeded in arousing and sustaining a considerable feeling of nationality and independence among the masses of their population. Grasping the sceptre of ill-gotten authority with great boldness, they have wielded it with a corresponding energy. Their early successes and their protracted resistance, sustained for more than two years by means of large and formidable armies, organized, disciplined, and led with great skill, have sufficed to give them credit and support at home, and much consideration abroad. In the midst of stirring events, carried away by the first impulse of excitement, the Southern people have not been in a mood to calculate the consequences of a long struggle. They have been elated and blinded by their apparent triumphs; and they, whose crafty purpose all the time has been to make use of them for the furtherance of their own ambitious projects, have been careful to preoccupy the minds of the people, and to conceal from them, by the plausible pretences and superficial successes of the hour, the certainty of ultimate discomfiture which has awaited them from the beginning. Occasionally, it is true, there have been indications that light was beginning to dawn on the popular mind; and in spite of the complete system of terror and compression which the leaders have inaugurated and sustained with the utmost determination, and with the most relentless rigor, we have seen every now and then, in different parts of the confederacy, the vivid flashes of a still living sentiment of love for the Union. As the hopes of the conspiracy become gradually less bright, this sentiment of affection for the old and honored Government of our fathers will grow stronger and more outspoken, and will not be confined to mere individual expressions. When the people begin to open their eyes and see the strength of the rebellion rapidly wasting away, with the repetition of its fruitless endeavors; when