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The "Times " on Secession.

--The London Times of the 18th, in remarking upon President Lincoln's Inaugural Message, asks:

‘ Would it not be better to recognize at once the formation of the Southern Confederacy, and to think a little less of constitutional powers and decorums which can end in nothing but civil war, and a little more on negotiation and arrangement, by which alone that civil war can be averted? It would be an intelligible course were the President to say that he is going to negotiate for peace, or that he is going to enforce a return to the Union by arms, but to say that he is going to exercise the powers of the Constitution, ignoring altogether the fact of secession, is to make war certain while cutting off any opportunity for negotiation.

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