ng also how that issue was
related to the questions of emancipation, the condition of the freedmen,
the welfare of the South, and the ratification of the constitutional
amendment.

"So new and unprecedented is the whole case," he concluded, "that no
exclusive and inflexible plan can safely be prescribed as to details and
collaterals. Such exclusive and inflexible plan would surely become a
new entanglement. Important principles may and must be inflexible. In
the present situation, as the phrase goes, it may be my duty to make
some new announcement to the people of the South. I am considering, and
shall not fail to act when satisfied that action will be proper."

Can any one doubt that this "new announcement" which was taking shape in
his mind would again have embraced and combined justice to the blacks
and generosity to the whites of the South, with Union and liberty for
the whole country?

XXXV

Depreciation of Confederate Currency--Rigor of
Conscription--Dissatisfaction with the Confederate Government--Lee
General-in-Chief--J.E. Johnston Reappointed to Oppose Sherman's
March--Value of Slave Property Gone in Richmond--Davis's Recommendation
of Emancipation--Benjamin's Last Despatch to Slidell--Condition of the
Army when Lee took Command--Lee Attempts Negotiations with
Grant--Lincoln's Directions--Lee and Davis Agree upon Line of
Retreat--Assault on Fort Stedman--Five Forks--Evacuation of
Petersburg--Surrender of Richmond--Pursuit of Lee--Surrender of
Lee--Burning of Richmond--Lincoln in Richmond

From the hour of Mr. Lincoln's reelection the Confederate cause was
doomed. The cheering of the troops which greeted the news from the North
was heard within the lines at Richmond and at Petersburg; and although
the leaders maintained their attitude of defiance, the impression
rapidly gained ground among the people that the end was not far off. The
stimulus of hope being gone, they began to feel the pinch of increasing
want. Their currency had become almost worthless. In October, a dollar
in gold was worth thirty-five dollars in Confederate money. With the
opening of the new year the price rose to sixty dollars, and, despite
the efforts of the Confederate treasury, which would occasionally rush
into the market and beat down the price of gold ten or twenty per cent.
a day, the currency gradually depreciated until a hundred for one was
offered and not taken. It was natural for the citizens of Richmond to
think tha