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The Emancipation proclamation. --Lincoln's infamous proclamation is creating as much consternation in the North as it was expected to do in the South. The Chicago Times says: Two days ago the President was wonderfully strong in the confidence of the country, not because of his military conduct of the war, for, in the opinion of all men, that had been disastrous, but because he had steadily manifested an apparently inflexible determination to adhere faithfully to the Constitution in the political management of the war and in the administration of the government. It was the merit of this adherence that, in the minds of all good and right thinking men, covered his multitude of sins in the military conduct of the war. So long as he seemed to be fast anchored to the Constitution, good and right-thinking men never ceased to hope and believe that experience would teach him to correct and overcome his military mistakes, and that finally the government of the Constitution would p