It is with this class that we shall have to deal in arranging the conditions of settlement; and we must do it with a broad view of the interests of the whole country and of the great mass of the Southern people, whose ignorance and the prejudices consequent from it made it so easy to use them as the instruments of their own ruin. No immediate advantage must blind us to the real objects of the war,--the securing our external power and our internal tranquillity, and the making them inherent and indestructible by founding them upon the common welfare. The first condition of permanent peace is to render those who were the great slaveholders when the war began, and who will be the great landholders after it is over, powerless for mischief. What punishment should be inflicted on the chief criminals is a matter of little moment. The South has received a lesson of suffering which satisfies all the legitimate ends of punishment, and as for vengeance, it is contrary to our national temper and the spirit of our government. Our great object should be, not to weaken, but to strengthen the South,--to make it richer, and not poorer. We must not repeat the stupid and fatal blunder of slaveholding publicists, that the wealth and power of one portion of the country are a drain upon the resources of the rest, instead of being their natural feeders and invigorators. Any general confiscation of Rebel property, therefore, seems to us unthrifty housekeeping, for it is really a levying on our own estate, and a lessening of our own resources. The people of the Southern States will be called upon to bear their part of the grievous burden of taxation which the war will leave upon our shoulders, and that is the fairest as well as the most prudent way of making them contribute to our national solvency. All irregular modes of levying contributions, however just,--and exactly just they can seldom be,--leave discontent behind them, while a uniform system, where every man knows what he is to pay and why he is to pay it, tends to restore stability by the very evenness of its operation, by its making national interests familiar to all, and by removing any sense of injustice. Any sweeping confiscation, such as has sometimes been proposed in Congress with more heat than judgment, would render the South less available for revenue, would retard the return of industry to its legitimate channels, by lessening its means, and would not destroy the influence of the misgoverning aristocracy. On the contrary, it would give them that prestige of misfortune whose power over the sentiments of mankind is the moral of the story of Stuarts and Bourbons and Bonapartes. Retribution they should have, but let them have it in the only way worthy of a great people to inflict. Let it come in a sense of their own folly and sin, brought about by the magnanimity of their conquerors, by the return of a more substantial prosperity born of the new order of things, so as to convince, instead of alienating.