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We have received New York papers of Wednesday, the 7th instant.


Lincoln's message — the rebels must be Subdued.

The message of Lincoln was read in Congress on Tuesday. It is rather dull and uninteresting. It opens with intelligence about the state of affairs in China, San Domingo and Chili, and some history of rebellions which have occurred in those countries, which are not very interesting to our people. The only reference to the Florida affair is the following:

‘ Nevertheless, unforseen political difficulties have arisen, especially in Brazilian and British ports and on the northern boundary of the United States, which have required, and are likely to continue to require, the practice of constant vigilance and a just and conciliatory spirit on the part of the United States, as well as of the nations concerned, and their Governments.

’ The following shows the Yankee exhibit of their debt:

The public debt on the 1st day of July last, as appears by the books of the Treasury, amounted to one billion, seven hundred and forty thousand million, six hundred and ninety thousand, four hundred and eighty-nine dollars and forty-nine cents. --Probably, should the war continue for another year, that amount may be increased by not far from five hundred millions.


The late Presidential vote.

Lincoln put in a vast quantity of bogus votes at the late election, and now bases on them a statement that the population of the country is increasing:

‘ The election has exhibited another fact, not less valuable to be known: the fact that we do not approach exhaustion in the most important branch of the national resources — that of living men. While it is melancholy to reflect that the war has filled so many graves and carried mourning to so many hearts, it is some relief to know that, compared with the surviving, the fallen have been so few. While corps, and divisions, and brigades, and regiments have formed, and fought, and dwindled, and gone out of existence, a great majority of the men who composed them are still living. The same is true of the naval service. The election returns prove this. So many voters could not else be found.


The Navy.

The Federal navy consists of six hundred and seventy-one vessels, carrying four thousand six hundred guns; and by this navy--

There have been captured during the year three hundred and twenty-four vessels, and the whole number of naval captures since hostilities commenced is one thousand three hundred and seventy- nine, of which two hundred and sixty-seven are steamers. The gross proceeds arising from the sale of condemned prize property thus far reported amounts to $14,396,250.51. A large amount of such proceeds is still under adjudication and yet to be reported. The total expenditures of the Navy Department of every description, including the cost of the immense squadrons that have been called into existence, from the 4th of March, 1861, to the 1st of November, 1864, are $238,647,262.35.


Our Military operations — Progress of Reconstruction.

The war continues. Since the last annual message, all the important lines and positions then occupied by our forces have been maintained, and our armies have steadily advanced, thus liberating the regions left in the rear; so that Missouri, Kentucky, Tennessee, and parts of other States, have again produced reasonably fair crops. The most remarkable feature in the military operations of the year is General Sherman's attempted march of three hundred miles directly through the insurgent region. It tends to show a great increase of our relative strength that our general-in-chief should feel able to confront and hold in check every active force of the enemy and yet to detach a well-appointed large army to move on such an expedition. The result not yet being known, conjecture in regard to it should not here be indulged.

Important movements have also occurred during the year to the effect of moulding society for durability in the Union. Although short of complete success, it is much in the right direction that twelve thousand citizens in each of the States of Arkansas and Louisiana have organized loyal State governments, with free constitutions, and are earnestly struggling to maintain and administer them. The movement in the same direction, more extensive, though less definite, in Missouri, Kentucky and Tennessee, should not be overlooked. But Maryland presents the example of complete success. Maryland is secure to liberty and Union for all the future. The genius of rebellion will no more claim Maryland. Like another foul spirit being driven out, it may seek to tear her, but it will woo her no more.


The rebels must be Subdued.

On careful consideration of all the evidence accessible, it seems to me that no attempt at negotiation with the insurgent leader could result in any good. He would accept of nothing short of the severance of the Union. His declarations to that effect are explicit and oft- repeated. He does not attempt to deceive us. He affords us no excuse to deceive ourselves. We cannot voluntarily yield it.--Between him and us the issue is distinct, simple and inflexible. It is an issue which can only be tried by war and decided by victory. If we yield, we are beaten. If the Southern people fail him, he is beaten. Either way it would be the victory and defeat following war. What is true, however, of him who heads the insurgent cause is not necessarily true of those who follow. Although he cannot re-accept the Union, they can. Some of them, we know, already desire peace and re-union. The number of such may increase. They can at any moment have peace simply by laying down their arms and submitting to the national authority under the Constitution. After so much, the Government could not, if it would, maintain war against them. The loyal people would not sustain or allow it. If questions should remain, we would adjust them by the peaceful means of legislation, conference, courts and votes. Operating only in constitutional and lawful channels, some certain and other possible questions are, and would be, beyond the executive power to adjust, as, for instance, the admission of members into Congress and whatever might require the appropriation of money. --The executive power itself would be greatly diminished by the cessation of actual war. Pardons and remissions of forfeiture would still be within executive control. In what spirit and temper this control would be exercised can be fairly judged by the past. A year ago, general pardon and amnesty, upon specified terms, were offered to all, except certain designated classes, and it was at the same time made known that the excepted classes were still within contemplation of special clemency. During the year many availed themselves of the general provision, and many more would, only that the signs of bad faith in some led to such precautionary measures as rendered the practical process less easy and certain. During the same time, also, special pardons have been granted to individuals of excepted classes, and no voluntary application has been denied. Thus, practically, the door has been for a full year open to all, except such as were not in condition to make free choice — that is, such as were in custody or under constraint. It is still so open to all; but the time may come, probably will come, when public duty shall demand that it be closed, and that in lieu more rigorous measures than heretofore shall be adopted.


The end of slavery.

In presenting the abandonment of armed resistance to the National authority on the part of the insurgents as the only indispensable condition to ending the war on the part of the Government, I retract nothing heretofore said as to slavery. I repeat the declaration made a year ago, and that while I remain in my present position I shall not attempt to retract or modify the Emancipation Proclamation; nor shall I return to slavery any person who is free by the terms of that proclamation, or by any of the acts of Congress. If the people should, by whatever mode or means, make it an Executive duty to re-enslave such persons, another, and not I, must be their instrument to perform it. In stating a single condition of peace, I mean simply to say that the war will cease on the part of the Government whenver it shall have ceased on the part of those who began it.


The press on the message.

The Herald calls the message "a plain and unpretending document, " and says:

‘ It is an encouraging report on the state of the nation, and embodies various timely and practical recommendations to the two Houses, although in some things of great moment it falls short of the mark.

’ For example, Mr. Lincoln, setting out with the declaration that "the condition of our foreign affairs is reasonably satisfactory," follows directly after with the statement that "we have strictly maintained neutrality between the belligerents in Mexico," and there stops. He has nothing to suggest upon that subject. Has he forgotten that the Monroe doctrine was a plank of the Baltimore platform, and that it was expected he would face the music? He intimates that the affair of the rebel buccaneer Florida will require delicate handling; but he fails to tell us whether this case has been left in the hands of the Chevalier Webb or has been taken up by the Secretary of State; so that we cannot determine whether we are to have a speedy rupture or an exhausting diplomatic discussion with Brazil.

The Times seems to be a little alarmed at the entire absence of any manifestation of a willingness or desire to stop the war, and tries to smooth over Lincoln's views as follows:

‘ The President neither insists upon, nor looks for any stipulation in advance in respect to the abandonment of slavery. His only claim is for an abandonment of armed resistance. This makes good precisely what we have contended was the true construction of the famous missive, "To whom it may concern." It puts beyond further dispute the President's absolute singleness of purpose and his determination to maintain the war solely on a constitutional basis for constitutional ends. It is true, that he takes occasion here to repeat that he will not attempt either to retract or modify the Emancipation Proclamation. Yet in this he is perfectly consistent. That proclamation was a war measure, authorized by the war power involved in the duty prescribed to the Executive by the Constitution, to enforce the laws. Its operative force must continue while the war lasts. When the war ceases, itself must cease as a war measure. It can have no further continuing effect; though the effect already consummated, whatever the courts may decide that to be, cannot be undone, and must remain unchanged. The President holds to the proclamation in just the right manner. He treats it as an instrument of war, but in no way interposes it against peace. The rebels can get peace at any time without touching it. All that is required of them is that they shall, in good faith, bow to the Constitution.

’ A letter from New York says:

‘ That portion of the message which speaks of the uselessness of negotiating with the rebel leaders and of the readiness of the Government to stop the war when those who commenced it stop, meets a ready response from all save the sympathizers with secession.


The effect on gold.

Lincoln's message was of such a cheerful and hopeful character that at the board in New York on Wednesday night gold ran up from 228 to 240.--There was great excitement among the brokers.


Miscellaneous.

There is not a word of war news in the papers.--A move by Grant was predicted.

Salmon P. Chase has been appointed Chief Justice of the United States Supreme Court, and confirmed by the Senate.

A riot by the Fanians and Orangemen was progressing at Toronto, Canada, on the 6th.

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