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e want of call, the difficulty, the chance of defeat, and the probable length of the enterprise, we should be very sorry indeed to throw ourselves into this struggle. Mason and Slidell Negotiating in Paris. [Ports (May 20) correspondence of London Port.] Some fresh efforts are said to be making by the Southern envoys at London and Paris with the view of obtaining the recognition of the States of the Confederacy. As the French Government took the lead in a peace policy, perhaps Messrs. Slidell and Mason have doubt less more hope of making an impression at the Tuileries than at the Court of St. James. Mr. Dayton, the United States Minister, and the partisans of the North, as far as I can learn, repudiate all idea of making peace with the South. They say that the Government of Washington will assuredly continue the war; that the resources of the North must finally exhaust the South; and that the United States Government can carry on hostilities for five years more. The Imperia