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We regard the cry which some of the press of the Confederacy is raising for peace as fraught with raischief. Nothing could have a more direct tendency to encourage our enemy to persevere in the iniquitous war he is waging against us without, as far as we can perceive, the slightest disposition to relax or to compromise, even if compromise were possible. But it is not possible, so far as we can see, and so far as boundaries are concerned. The Government of the Confederate States has no right to give up one foot of territory belonging to, or claimed by, any one of the sovereignties whose agent it is.--The Yankee Government will not agree, at this time, to make peace without a huge slice from these territories; perhaps, in some instances, without the surrender of whole States. In Virginia, it would insist upon claiming what they call New Virginia, in addition to Old Point and Norfolk. In Kentucky, Tennessee, Missouri and Maryland, they would claim the whole State. Elsewhere their claims would be based strictly upon the principle of Now, the Government of the Confederate States cannot make any such treaty as this. It cannot cede any territory belonging to any of these States, each one of which is a nation — a sovereignty as distinct as Great Britain or France. It can make peace on no other terms, so far as we can see, than those upon which it has more than once pledged itself — absolute independence and the complete integrity of all the States. When, therefore, we hear people talking about the astuteness of the Yankees, and the danger there is of their overreaching us, &c., we do not understand what they mean.

Our people are tired of the war, no doubt, and this is the reason why they are so easily deceived by every thing relating to peace that comes from the North. They ought to understand, if they do not, that there are two parties there, one of which is in and the other out; and that the party which is out is trying to get in. The party which is in is the party which is prosecuting this war. The party which is out, constitutes two parties of the most opposite sentiments. One of them is more hostile to us than Lincoln's party. The other affects to be for peace, and uses the peace cry as a weapon against Lincoln. If they combine at all, which is extremely doubtful, it will be for the purpose of expelling the present incumbent, (a very difficult job,) and getting possession-of the spoils, which are, beyond computation, enormous, and for no purpose of patriotism. Should they even succeed, which we hold to be nigh akin to a miracle, it is very doubtful whether we should have peace. The present war causes a disbursement of a thousand million a year. We doubt very much whether there is any party in Yankeedom possessing virtue enough to resist the temptation of handling such a sum; and the successful party must forego all hope of doing so if it put an end to the war.

The New York Herald, the other day, advised Lincoln to send commissioners to treat of peace without raising the blockade or withdrawing the troops. Of course it knew, and acknowledged that it knew, that such a proposition would not be listened to. But it, of its own accord, explained what it proposed to effect. It was nothing more nor less than a trick "to take the wind out of the sails of the Peace party." Every proposition from this quarter partakes more or less of the same character. Even if we expected anything from the Peace party, which we do not, we should think it not at all advisable to mix up our cause with their proceedings. If they can really, in any manner whatever, be of service to the establishment of peace, it must be solely on condition that they keep aloof from all correspondence, or association, or suspicion of correspondence or association, with any party in the Confederate States. The bare suspicion of collusion would destroy their usefulness at once. In that view of the case, we cannot see that the interference of Mr. George Sanders and his colleagues is calculated to produce anything short of unalloyed evil.

It is humiliating — we had almost said degrading — in us to be crying out for peace. We are the party wronged; we are the party assailed; we are the party acting still, and always having acted, on the defensive. The highest authority known to the laws of our country has repeatedly declared that we are ready to make peace as soon as the enemy shall have ceased to make war upon us. What more can we do or say without placing ourselves in the attitude of suppliants to a power which has more than once spurned our offers, even upon subjects not in the least connected with peace? Lincoln is the man, and the only man, who is authorized by the Constitution of the United States to appoint commissioners to treat of peace. Any proposition from this side, to be of any avail, must be made to him. And who is prepared to place our country at his footstool, or who does not see that, by doing so, we leave it in his power to prescribe the terms? As he himself is the aggressor, by this course we acknowledge him as conqueror. Are we prepared to make this acknowledgment? Certainly we are not. No party in the Confederacy is ready for that. Then the only thing we can do is to keep on beating his armies until events, whether occurring here or within his own territories, force him to make proposals.--Then we can meet him with the only answer it is possible for us to give: Withdraw your fleets and armies, treat on the basis of independence and integrity of boundaries, and we are ready to send commissioners to settle all matters of minor consideration.

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