The vast body of slaves in the South have not yet been incited to action, either by the movements of our armies or by the potency of the Proclamation. Whether they will be, and to what extent, depends upon the continuance of the war, and its future progress. The result in this particular remains to be seen, and cannot now be anticipated. What legal effect the measures of the Government may have upon the slaves remaining in the South would be a question for the decision of the courts; and doubtless most of them would be entitled to liberation as the penalty of the treason of their masters, who may have participated in the rebellion. But it is well worthy of consideration whether it would not be wise and better for all parties, including the slaves, to commute this penalty by a compact with the States for the gradual emancipation of the slaves remaining at the time of the negotiation. The sudden and utter overthrow of the existing organization of labor and capital in those States, coming in addition to the awful devastation which the war has produced, will deal a disastrous blow, not alone to those unfortunate States, but to the commerce and industry of the whole country. But neither the Government of the United States alone, nor this together with the Africans, liberated and unliberated, can prescribe their own requirements, as the law of the emergency, without reference to other great interests involved. The question must necessarily be controlled by the sum of all the political elements which enter into it. It is desirable to restore the States to the Union with as little dissatisfaction as possible, and even with all the alleviation which can properly be afforded to the misfortunes of the people who have so sadly erred in their duty to themselves and to their country. After any settlement--the most favorable that can be made--heavy will be the punishment inflicted by the great contest upon the unhappy population of the rebellious region. In many things, it is true, they will suffer only in common with the people of all the States; but they will also have their own peculiar misfortunes in addition to the common burdens. A generous Government, in the hour of its triumph, will seek to lessen rather than to aggravate their misfortunes, even though resulting from their crimes. Having received them back into the bosom of the Union, it will do so heartily and magnanimously, yielding everything which does not involve a violation of principle, and endanger the future tranquillity of the country. The harmony of the States, their homogeneity, and their general progress in all that contributes to the greatness and happiness of communities, ought to be, and doubtless will be, the benign object of the Government in the settlement of the existing difficulty. If these high purposes necessarily require in their development a provision for the rapid disappearance of slavery, the requirement will not arise from any remaining hostility to the returning