has not been attained we think is pretty clear, and the other, which is by far the most important, has been equally missed.
Whatever may be the merits or faints of Mr. Lincoln's policy, his proclamation has had but one effect, and that is to make the Confederates more fierce and resolute than ever.
When the last news left more than a fortnight had elapsed since the proclamation, and no sign of wavering had appeared at the South.
The Confederates had opened the new year with a victory at Galveston, and at Vicksburg had inflicted on the Federal a defeat hardly less bloody and quite as important as that of Fredericksburg.
Two military disasters and a rise of — gold to 50 premium are the first fruits of the masterly document of the 2d of January and a still more important matter is the widespread anger of all but the Republican zealots.
New York has spoken through Mr. Seymour, and now the Governor of Kentucky, a firm Unionist, and a man to whom the North is mainly indebted for keepin