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Southern Historical Society Papers.

that we will not accept his terms, and scarcely any Democrat and not all the Republicans will insist on them. They are not willing to pay the price his terms exact of the North. They see that he can reach peace only through subjugation of the South, which but few think practicable; through universal bankruptcy of the North; through seas of their own blood as well as ours; through the utter demoralization of their people, and destruction of their Republican government; through anarchy and moral chaos—all of which is more repulsive and intolerable than even the separation and independence of the South.

All the Democrat presses denounce Mr. Lincoln's manifesto in strong terms, and many Republican presses (and among them the New York Tribune) admit it was a blunder. Mr. Greeley was chagrined and incensed by it, as his articles clearly show. I am told by those who profess to have heard his private expressions of opinion and feeling, that he curses all fools in high places and regards himself as deceived and maltreated by the Administration. From all that I can see or hear, I am satisfied that the correspondence has tended strongly towards consolidating the Democracy and dividing the Republicans and encouraging the desire for peace. Many prominent politicians of the United States assure us that it is the most opportune and efficient moral instrumentality for stopping the war that could have been conceived or exerted, and beg us to refrain from any vindication of our course or explanation of our purposes.

At all events, we have developed what we desired to in the eyes of our people,—that war, with all its horrors, is less terrible and hateful than the alternative offered by Mr. Lincoln. We hope that none will hereafter be found in North Carolina, or in any other part of the Confederate States, so base as to insist that we shall make any more advances to him in behalf of peace; but that all of our citizens will gird themselves with renewed and redoubled energy and resolution to battle against our foes until our utter extermination, rather than halt to ponder the terms which he haughtily proclaims as his ultimatum. If such be the effect of our correspondence, we shall be amply indemnified for all the misrepresentation which we have incurred or ever can incur.

Mr. Greeley's purpose may have been merely to find out our conditions of peace, but we give him credit for seeking higher objects. While we contemplated and desired something more, yet it was part of our purpose to ascertain Mr. Lincoln's condition of