wise, practicable, and truly loyal stand point. Strange that any
Republican should be disposed to put a stop to the 'irrepressible
conflict.' It was too late in the day to attempt the organization of a
great, victorious Conservative party by splitting up the old
organizations. The old organizations may fall to pieces. It is best,
perhaps, they should--but not to form a Conservative party. Conservatism
is not now to the popular taste. It means nothing but the saving of
slavery, and the great body of the loyal people now feel absolved from
all obligation to save it; they do not care to have it saved; and the
vaticinations of those prophets of evil who predicted disaster and ruin
to the national cause from the emancipation policy of the Government
excite no consternation in the loyal heart of the nation.

In a review of the conduct of the war, how little reason appears for
regret and how much for satisfaction in regard to all the great measures
of the Government!


THE FINANCIAL SYSTEM.

The successful working of the _financial system_ has demonstrated the
wisdom of its principles. Instead of following the old wretched way of
throwing an immense amount of stocks into market at a sacrifice of
fifteen to thirty per cent., the Government has got all the money it
wanted at half or a little more than half the usual rate of interest. It
would have been better if the currency had been made to consist wholly
of United States legal-tender notes, fundable in six per cent.,
bonds--with a proper provision for the interest and for a sinking fund.

But the financial system adopted is a matter of satisfaction, apart from