No. 495.
Mr. Stevens to Mr. Fish.

No. 32.]

Sir: In a former dispatch I informed the Department of State of the treaty of peace that had been negotiated and signed by the commissioners of the revolutionary party in this country, the special agent of the government, and the Argentine mediator, and of its repudiation by the controlling portion of the government party, the removal of the special agent of the government, and the consequent resignation of the minister of foreign relations, who had strongly identified himself with the negotiations. I am now pleased to transmit the information that the negotiations were renewed by the new acting executive and his cabinet, and that a new agreement of pacification has been made between the belligerent parties, approved by the executive and both houses of congress.

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Perhaps the terms of the arrangement may not be entirely so wise as the one first made, but it seems to have received the nearly unanimous approval of the government and the revolutionists. The army of the revolution places itself under the command of the government, and is to be dissolved and sent home, and so much of the government army as was raised for the war is to be at once disbanded.

Universal amnesty is adopted as the rule on both sides. The elections are to be held within two months, and the solemn pledge is mutually given to abide the issue of the popular decision. It remains to be seen how faithfully the terms of the pacification can be carried out. The joy of the people is unbounded. Three days have been set apart for national celebration, for which the parties coalesce in making arrangements on the grandest scale. If peace can be secured even but for a brief term of years, this country will make remarkable progress. Millions of English capital are secured, and efficient men to use it, as soon as peace is fully realizeckto be a fact. One of the richest and best located pieces of territory in the world, by its completely organized steam connection with Europe, its natural advantages have become well known to the immigrants from the old countries.

A brief period of quiet allowed to transpire, influences already operative will completely submerge the “gancho element” which partisan leaders have long made the controlling force of civil wars.

I have, &c.,

JOHN L. STEVENS.