the nation (including all the eminent Southern loyalists), as not only indispensable to the national salvation, but desirable in every view. Strange that at such a time, and among those once active and influential in the formation of the Republican party--a party born of the roused spirit of resistance to slavery aggressions--there should have been found a single person unable to discern and to accept the inevitable logic of events which was to make the extinction of slavery the only wise, practicable, and truly loyal stand point. Strange that any Republican should be disposed to put a stop to the 'irrepressible conflict.' It was too late in the day to attempt the organization of a great, victorious Conservative party by splitting up the old organizations. The old organizations may fall to pieces. It is best, perhaps, they should--but not to form a Conservative party. Conservatism is not now to the popular taste. It means nothing but the saving of slavery, and the great body of the loyal people now feel absolved from all obligation to save it; they do not care to have it saved; and the vaticinations of those prophets of evil who predicted disaster and ruin to the national cause from the emancipation policy of the Government excite no consternation in the loyal heart of the nation. In a review of the conduct of the war, how little reason appears for regret and how much for satisfaction in regard to all the great measures of the Government! THE FINANCIAL SYSTEM. The successful working of the _financial system_ has demonstrated the wisdom of its principles. Instead of following the old wretched way of throwing an immense amount of stocks into market at a sacrifice of fifteen to thirty per cent., the Government has got all the money it wanted at half or a little more than half the usual rate of interest. It would have been better if the currency had been made to consist wholly of United States legal-tender notes, fundable in six per cent., bonds--with a proper provision for the interest and for a sinking fund.