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The Peace Conference.
--the Committee's report.

--The Peace Conference having adjourned Friday for the purpose of allowing the various propositions to be printed and laid before them, met Saturday morning, and launched out upon an interminable sea of debate.

Mr. Baldwin, of Connecticut, moved to substitute his proposition for a National Convention, In lieu of Mr. Guthrie's proposition, reported from the committee. He sustained his motion in an elaborate speech, in which he reviewed the condition of affairs and the causes which had produced them. He believed that the only remedy now was a National Convention. Any other proposed remedies would fail to meet the wishes of the two Houses of Congress.

Mr. Guthrie, of Kentucky, opposed the motion in a speech of great power, and sustained the report of the committee, of which he was chairman. He urged upon the Convention speedy action. There was no time to be lost. If the Convention really intended to adopt measures which would restore peace and good brotherhood between the States, they ought to do so at once.

Mr. Curtis, of Iowa, followed next, but did not sustain either the call of a National Convention or the report of the committee. It was a disquisition upon political affairs generally, and could be interpreted to mean everything, or nothing, as the case might be.

The question next arose as to what the report of the committee meant respecting the Territorial question. It was contended by several, among whom was Reverend Johnson, that it not only applies to our present Territories, but to future acquisitions also, and with that view he (Mr. Johnson) should move an amendment, so as to exclude territory hereafter to be acquired.

The debate was kept up to nearly 3 o'clock, when they adjourned until Monday at 11 o'clock.

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