Mr. Davis' assumption of his trust was characterized by a dignity, absence of ostentation, and profound appreciation of its delicate nature, in the highest degree imposing. From it was augured such a worthy administration of public affairs as would secure for the Confederacy, if permitted the blessings of peace, an enviable position among the nations of the earth. But his first announcement of its policy indicated his appreciation of the danger of war, in which its utmost exertions would be required to vindicate the independence which the States had declared. To the heroic maintenance of that position he committed himself by the most emphatic avowals; and in whatever contingency, whether of peace or war, his purpose was one of deathless resistence to any denial of the right of self-government, which his fellow-citizens had exercised. Informed of his election, Mr. Davis immediately left his home for the seat of government. Along the route to Montgomery he was greeted, by the people, with every possible demonstration of patriotic enthusiasm and personal regard. In response to these demonstrations, he at several points addressed the people in terms of characteristic eloquence, dignity and moderation. Proud, indeed, must ever be, to the Southern people, the contrast of the noble bearing of their chosen ruler with the display of vulgarity attending the journey of Mr. Lincoln from Springfield to Washington. These two men--the one with the calm dignity of the statesman and the polished bearing of the gentleman; the other with coarse jests and buffoonery, upon the eve of the most important event in their individual history, and pregnant with significance to millions--were no bad indices of the civilization of their respective sections. Arriving in Montgomery, Mr. Davis was inaugurated on the 18th February, with a simplicity of ceremony, an absence of personal inflation, and a degree of popular enthusiasm, which well befitted the formal assertion of true republican liberty, equally protected against the license of mobs and the usurpations of tyrants. The ceremonies of inauguration were little more than the taking of the oath of office and the delivery of the inaugural address. The inaugural of President Davis is unquestionably of the highest order of state papers. As a model of composition, it is rarely equaled; and its statement of the position of the South, the grievances which had led to the assumption of that position, her hopes, aspirations, and purposes, has never been surpassed in power and perspicuity, by any similar document. INAUGURAL ADDRESS OF PRESIDENT DAVIS, DELIVERED AT THE CAPITOL, MONDAY, FEB. 18, 1861. _Gentlemen of the Congress of the Confederate States of America; Friends and Fellow-Citizens_: