ith such
thoughts and purposes, he spent the day after his return from Hampton
Roads in considering and perfecting a new proposal, designed as a peace
offering to the States in rebellion. On the evening of February 5, 1865,
he called his cabinet together, and read to them the draft of a joint
resolution and proclamation embodying this idea, offering the Southern
States four hundred million dollars, or a sum equal to the cost of the
war for two hundred days, on condition that hostilities cease by the
first of April, 1865; to be paid in six per cent. government bonds, pro
rata on their slave populations as shown by the census of 1860--one half
on April 1, the other half only upon condition that the Thirteenth
Amendment be ratified by a requisite number of States before July 1,
1865.

It turned out that he was more humane and liberal than his
constitutional advisers. The indorsement in his own handwriting on the
manuscript draft records the result of his appeal and suggestion:

"February 5, 1865. To-day, these papers, which explain themselves,
were drawn up and submitted to the cabinet, and unanimously
disapproved by them.

"A. LINCOLN."

With the words, "You are all opposed to me," sadly uttered, the
President folded up the paper and ceased the discussion.

The formal inauguration of Mr. Lincoln for his second presidential term
took place at the appointed time, March 4, 1865. There is little
variation in the simple but impressive pageantry with which the official
ceremony is celebrated. The principal novelty commented upon by the
newspapers was the share which the hitherto enslaved race had for the
first time in this public and political drama. Civic associations of
negro citizens joined in the procession, and a battalion of negro
soldiers formed part of the military escort. The weather was
sufficiently favorable to allow the ceremonies to take place on the
eastern portico of the Capitol, in view of a vast throng of spectators.
The central act of the occasion was President Lincoln's second inaugural
address, which enriched the political literature of the Union with
another masterpiece, and deserves to be quoted in full. He said:

"FELLOW-COUNTRYMEN: At this second appearing to take the oath of
the presidential office, there is less occasion for an extended
address than there was at the first. Then, a statement, somewhat in
detail, of a course to be pursued, seemed fitting and