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The "Peace Conference."

The deliberations of the "Peace Conference" Tuesday were initiated by the introduction of a resolution by Gov. Wickliffe to limit speeches to thirty minutes. It was moved to amend this by substituting ten minutes. Another proposition was that the Convention should meet at ten o'clock in the morning and adjourn at four P. M., then to meet at eight in the evening and adjourn at ten. Still another proposition was to close debate on Thursday and proceed to vote.

No vote was taken upon the above, and it is not unlikely that there will be no decisive vote upon compromise propositions until after the arrival of Mr. Lincoln.

Commodore Stockton opened the discussion Tuesday morning in a long speech, in which he pronounced strongly against coercion. For every regiment that would be raised in the North to coerce the South, another would spring up in the same North to oppose the first.

Mr. Granger, of New York, followed in a speech, in which he descanted upon the fact that the last Presidential election was not an endorsement of Republican policy by a majority of the people of the North, and that were New York called upon now to speak, she would go for compromise by a hundred thousand majority.

Mr. Noyes, of New York, (Republican,) replied, stating that he was not to be intimidated by speeches of preceding speakers.

Mr. Ruffin, of North Carolina, made a conciliatory speech, deprecating remarks of a partizan character. He was older than the Constitution, and he hoped that he should not survive its wreck.

Mr. Ewing made a speech against abolitionism.

Senator Morrill, of Maine, who is represented by Maine democratic papers as a signer to a paper contributing money for running off fugitive slaves, put questions concerning the intentions of Virginia in standing between the Government and rebellious States.

Mr. Seddon answered these at much length.

Mr. Rives, of Virginia, made a long speech, answering objections as to the irregularity of proposed methods to amend the Constitution. The Convention that framed the Constitution was not regularly called, etc. So also amendments had been made in which there had been a departure from the strict rule.

Mr. Summers concluded the day's session in what is spoken of as a powerful effort.

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