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Lincoln President for life.

--The N. Y. Sunday Mercury, of the 20th ult., publishes a letter from a Washington correspondent, who says that it has been determined to postpone the next Presidential election until after the suppression of the rebellion and the restoration of the Union. The reason he assigns for this hold movement is, that the Constitution requires all the States to vote, and that in the present condition of the country it is impossible to comply with the requirement. Thus Lincoln is President for life, with powers fully as absolute as those of Alexander H. or Napoleon III. The next step will be to make the office hereditary in his family, after which he may assume the imperial crown as soon as he may think proper. What luck for a rail-splitter. Sylla. Cæsar. Cromwell, and Napoleon, were accounted lucky men in their day, but their good fortune was sheer adversity compared to that of old Abe. They were all great men, and won their way to empire with their swords; but the most abject of Lincoln's sycophants — even the New York Herald itself — never called Lincoln a great man except in derision. He slips into the throne as easily and as gently as if he had been born in the purple. He steals into greatness as he stole into Washington upon his first advent.

The paper from which we gather this information was published on the very day of Rosecrans's disastrous defeat. It exults in the anticipation of a glorious triumph by that General — calls him the first officer in the Yankee service, says that his army is overwhelmingly superior in numbers, in discipline, in appointments, and in courage to that of Bragg. and that a battle must result in the utter destruction of the latter. These Yankee editors are wonderful prophets, to be sure!

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