THE PROSPECT OF PEACE.
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The Washington Correspondent! of l. , New York Journal of Commerce thaa discourses in regard 10 the con.inua.ol, of the war with Mexico

 Whatever advances we have made 10 Mexico towards peace have been in all probability, rejected, or have no! been lis. tcnoned to. The terms which we may offer are Of little moment as ,esards tho result. Mexico will listen 10 no terms Of peacc-evCn should we be content io make peace upon the bcladagy 7 of the Rio Graadc. Gen. Sco't hhs done do 10 coDc..;ale t.c MeA.ca0s and may be succesSiu'. so fir us many moderate and nte!iigens people are concerned. - Bat he cannot ei.lichten ihe ign pra !, mass of the peop!e-non remove their pUjud,ccs, nor aba'e their fanaticism- s'ii! less can he reconcile their party dis visions, which prevent the establishment ot anything like regular and steady government.

 What the U. s. shall do with a nation mus situated is now the great problem oetore the country. There will be par~ ty in favor of subjugating and perman> rnlly aPpropriating and annexing all Mexico. TAere ,las 1ong been party ia favor of adopting and holding bound- ary line. But ths'prevuiiipg party will think form the military Occups',, Ion of