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Important speech of President Davis.

Montgomery, Ala.,Feb. 17.
--The trip of President Davis from Jackson to Montgomery was a continuous ovation. He made twenty-five speeches on the route, returning thanks for the assembling of the people, cannon firing and cheers at all the different depots.

The committee of Congress, and the Montgomery city authorities, met President Davis about 80 miles below here, and formally received him.

Two flue military companies, from Columbus, Ga., joined in the escort at Opelika. All reached here last night, about 10 o'clock, amid cannonading and shouts.

A large crowd assembled at the depot.

President Davis said to the people that he felt proud and happy to receive the congratulations of the people of Alabama. He briefly reviewed the present position of the South.--He said the time for compromises had passed. We are determined to maintain our position, and make all who oppose us smell Southern powder and feel Southern steel. If coercion was persisted in he had no doubt of the result. We will maintain our rights and government at all hazards. We ask nothing and want nothing. We will have no complications. If other States join our Confederacy they can freely come on our terms. Our separation is complete. No compromise, no reconstruction can now be entertained.

A large crowd awaited Mr. Davis' arrival at the Exchange. The ladies were equally enthusiastic with the gentlemen.

At a quarter before 11 o'clock, in response to loud calls, Mr. Davis appeared in the balcony, and said:

‘ Fellow-citizens: Brethren of the Confederate States of North America--for now we are brethren, not in name but in fact. Men of one flesh, one bone, one interest, one purpose of identity in our institutions. We have henceforth, I trust, a prospect of living together in peace with our institutions, subject to protection, not defamation. It may be that our career may be ushered in in storm. It may be that as this morning opened with clouds and mist, we shall have to encounter inconveniences at the beginning, but as the sun rose and lifted the mist and dispersed the clouds, and left us the pure sunlight of Heaven; so will the progress of the Southern Confederacy carry us into a safe sea and a harbor of constitutional liberty and political equality. [Great applause.] Thus we shall have nothing to bear from want of homogeneity at home. We have nothing to fear abroad, because if war should come — if we have again to baptize in blood the principles for which our fathers bled in the Revolution, we shall show that we are not degenerate sons, but will redeem the pledges they gave to preserve the sacred rights transmitted us and show that Southern valor still shines as brightly as in 1776, 1812 and every other conflict. (Great applause.]

’ I was informed by my friends that your kindness only required that I should appear before you. Fatigued by travel, and very hoarse, I am unable to speak at length, and came out merely to assure you of my gratitude for these manifestations of your good will. I come with diffidence and distrust, to the discharge of the great duties devolved upon me by the kindness and confidence of the Congress of the Confederated States. I thank you, my friends, for the kind manifestation of favor and approbation you exhibit on this occasion. Throughout my entire progress to this city, I have received the same flattering demonstrations of generous support. I did not regard them as personal to myself, but tendered me as the representative of the principles and policy of the Confederated States.

I will devote to the duties of the high office to which I have been called, all I have of heart, of head, and of hands. If in the progress of events it shall become necessary that my services shall be needed in another position. If, to be plain, necessity shall require that I shall again enter the ranks as a soldier, I hope you will welcome me there. (Great applause.)

You, my friends, again thanking you for this manifestation of your approbation allow me to bid you good night.

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