RICHMOND, January 28, 1865. My Dear Sir: The intervention of F.P. Blair, who has passed two or three times back and forth from Washington to this city recently, has resulted in the appointment to-day by the President of an informal commission, consisting of Messrs. A.H. Stephens, R.M.T. Hunter, and J.A. Campbell, to proceed to Washington and confer with a like band there, on the subject-matters of difference between the Northern and Southern States, with a view to terms of peace. The action of the Senate was not invoked, it is presumed because the appointment of formal ministers might be considered inadmissible until the question of recognition should be settled in our favor. I trust that a termination of hostilities will be the result. From several conversations with Mr. Hunter, in concert with whom I have been endeavoring to reach this form of intercourse since the commencement of the session of Congress, I am satisfied that the first effort will be to establish an armistice of as long duration as may be allowed, and then to agree upon terms of settlement. Upon the latter I anticipate great conflict of views. The Northern mind is wedded to the idea of reconstruction, and notwithstanding the violence of the extravagant Republicans, I am convinced would guarantee slavery as it now exists, and probably make other concessions, including of course, amnesty, restoration of confiscated property, except slaves, and perhaps some compensation for a part of these. On the other hand, while the people of the South are wearied of the war, and are ready to make the greatest sacrifice to end it, there are embarrassments attending the abdication of a great government such as now wields the power of the South, especially by the agents appointed to maintain it, that are difficult to overcome. The commission is a discreet one, and upon the whole is as well constituted as I expected, and I trust that good will come of it. I have not seen any of the gentlemen since hearing to-day of their appointment, and I learn they are to set off to-morrow. I am therefore ignorant of the instructions they may carry, if any have been given. The Vice-President was not on terms with the head of the Government until a reconciliation yesterday. Although the North would seem to be bent on war unless and until the Union be restored, they yet regard us as a formidable foe, and I suspect the ruling authorities estimate our power as highly as it deserves. The Secretary of State here, I understand, says they have been frightened into negotiations by the articles in the Richmond _Enquirer_, threatening a colonial connection with England and France; while others, I hear from Mr. Rives, assert that the North is much troubled by the proposition to make soldiers of slaves. I have no faith in either of these fancies, but have no doubt they regard us as far from being subdued, and are willing to treat rather than incur