The pardoning power is the only remnant of absolute sovereignty that a President has. Through all the years, Lincoln will be known as Lincoln the loving, Lincoln the merciful. X. LINCOLN had the keenest sense of humor, and always saw the laughable side even of disaster. In his humor there was logic and the best of sense. No matter how complicated the question, or how embarrassing the situation, his humor furnished an answer and a door of escape. Vallandigham was a friend of the South, and did what he could to sow the seeds of failure. In his opinion everything, except rebellion, was unconstitutional. He was arrested, convicted by a court martial, and sentenced to imprisonment. There was doubt about the legality of the trial, and thousands in the North denounced the whole proceeding as tyrannical and infamous. At the same time millions demanded that Vallandigham should be punished. Lincoln's humor came to the rescue. He disapproved of the findings of the court, changed the punishment, and ordered that Mr. Vallandigham should be sent to his friends in the South. Those who regarded the act as unconstitutional almost forgave it for the sake of its humor. Horace Greeley always had the idea that he was greatly superior to Lincoln, because he lived in a larger town, and for a long time insisted that the people of the North and the people of the South desired peace. He took it upon himself to lecture Lincoln. Lincoln, with that wonderful sense of humor, united with shrewdness and profound wisdom, told Greeley that, if the South really wanted peace, he (Lincoln) desired the same thing, and was doing all he could to bring it about. Greeley insisted that a commissioner should be appointed, with authority to negotiate with the representatives of the Confederacy. This was Lincoln's opportunity. He authorized Greeley to act as such commissioner. The great editor felt that he was caught. For a time he hesitated, but finally went, and found that the Southern commissioners were willing to take into consideration any offers of peace that Lincoln might make, consistent with the independence of the Confederacy. The failure of Greeley was humiliating, and the position in which he was left, absurd. Again the humor of Lincoln had triumphed. Lincoln, to satisfy a few fault-finders in the North, went to Grant's headquarters and met some Confederate commissioners. He urged that it was hardly proper for him to negotiate with the representatives of rebels in arms--that if the South wanted peace, all they had to do was to stop fighting. One of the commissioners cited as a precedent the fact that Charles the First negotiated with rebels in arms. To which Lincoln replied that Charles the First lost his head. The conference came to nothing, as Mr. Lincoln expected.