5 JANUARY 1861, Page 5

The Cabinet of Mr. Buchanan has suffered a further mutila-

tion in the retirement of General Cass, who resigned because the President would not consent to coerce seceding States back into the Union. Of course temporary successors have been found both for Mr. Cass and Mr. Cobb. The resignations of these politicians are of no importance now, except in so far as they show the con- fusion which reigns at Washington.

Although South Carolina has, perhaps, seceded formally, signs of a compromise abound. Even South Carolina has chosen a moderate man, Colonel Pickens, for governor. Georgia, how- ever, shows a reluctance to adopt hasty measures ; Mr. Toombs having set himself against immediate secession, and suggested a compromise. In fact, except with some resolute Southerners and resolute republicans, compromise was the order of the day. Mr. Crittenden, Mr. Toombs, General Scott, the House of Representa- tives, the Senate, were all for compromise. The Republicans are asked to surrender their cherished principle of the non-extension of slavery and the abolition of slavery in the district of Columbia, and to concede the whole country South of 36° 30' to the slave- owners. Will they do so ? The prospect is fair on the face of it, but if the question of compromise or secession has really fallen into the hands of the people, as we are told it has, how can it be hoped that mob passion will save the Union ?

In the meantime, the Southerns live in fear and trembling, redouble their always tremendous precautions against the slaves, and listen nightly for the dread signal of insurrection. The value of slave " property " has fallen 50 per cent. If this be so on the mere mention of secession, what will it be should secession become an accomplished fact ? Mr. Buchanan, painting the condition of the Union in the darkest colours, had recommended that the 4th of January should be kept as a day of humiliation, fasting, and prayer. This is an eloquent fact. The 4th of January 1861, will henceforth be almost as famous as the 4th of July 1776.