The Inaugural Address of our noble Chief Magistrate has electrified the whole country. It has satisfied people of all parties who love the Union and desire its preservation. In this city it gives almost universal satisfaction. Republicans are delighted that there is no abandonment of Republican principle, and Democrats and Republicans alike are pleased with its calm, conciliatory, just, but firm tone.

Our telegraphic dispatches inform us that the address is generally well received in the North, but that it does not give entire satisfaction to the South. We need not say that we rejoice to know that traitors do not approve of it. We should be very, very sorry if they did. They regard it as a declaration of war against treason, and such, in our judgment, it may very properly be considered. Thank God it is such a declaration. Corruption, outrage, wrong and treason have ruled our country long enough, and we are deeply, sincerely thankful that an honest, patriotic, country-loving man once more holds the reins of Government.

We are not unmindful of the fact that the brave utterances of Mr. LINCOLN may lead to civil strife. It will be no surprise to us to learn that Southern traitors have attacked the Federal Government. But, thank God, the responsibility for civil war will rest with the traitors and not with the Government. And again, thank God, the Northern people are now a unit in their determination to punish traitors, support the Constitution and enforce the laws of our country.

The address of Mr. LINCOLN is worthy of him, worthy of his party, worthy of an American President. Once more the respect of the world is ours. If the mad scheme of the traitors is to be carried out, we shall look for an early attack upon Fort Sumter. We have no fears for the result. We would not be surprised to hear that aid has been already sent to ANDERSON. And when it is sent, by order of ABRAHAM LINCOLN, it will get there. It will be no “Star of the West” affair, but a genuine reinforcement.

We are no believer in peaceable secession. We do not believe that this Government can or will be destroyed by INK. Blood built it, and blood alone will destroy it or make it stronger. It will not be destroyed. Just revolution might be, as it has often been, successful. But Southern treason has no justification—no excuse; and the mad, wicked scheme of the Seceders will result in an ignominous failure. A Southern Confederacy, based on human bondage, is a drunkard’s dream. The Davises, Yanceys, Rhetts, Benjamins, Slidells, Wigfalls, and other traitors, will dance on nothing yet, and leave a memory that all the world will scorn.

Mr. LINCOLN has declared his purpose to perform his whole duty. War will follow, or—a consummation devoutly to be wished—treason will lower its flag. It is with painful feelings that we contemplate the necessity for a resort to arms to uphold this Government—the best on earth—but we cannot avoid the conclusion that traitors will yet, and speedily, plunge the country in civil war.

We of the North, conscious of having done our Southern brethren no wrong, and loving our free form of government more than life, will not tamely submit to its overthrow by men who have no higher object than more tightly to rivet the chains of human bondage. We of the North will stand by our glorious President in his efforts to defend and uphold our Government, and in the darkest hour of the conflict that may ensue we shall never be without firm faith in the triumph of the right. Universal Liberty is to be the eventual law of this land. Slave-holding traitors are only hastening the day when that law shall take effect. Their attempts to destroy the fairest fabric of free Government ever raised by human hands and wisdom, that they may the more securely hold their fellow-men in slavery, will result in failure.

The Jews once rolled a stone against the Sepulchre to prevent the rising of the Son of God, but as well might they have rolled a stone against the Eastern horizon to prevent the rising of the orb of day, as thus to stifle the fulfilment of prophecy. Equally futile will prove the efforts of slaveholding traitors to give to Slavery a country, which, we believe, God in his wisdom and mercy gave to Freedom as a heritage.

Mr. Lincoln has been “faithful among the faithless found”—he has spoken for his country and for freedom, and has lit once more in our land the fires of liberty.

“Proud Tyranny, from his throne of might,
With his cringing slaves around him,
Turns pale as he views its glowing light
Through the dull, dark clouds that bound him;
For he knows that his pomp at Freedom’s birth
Shall to darkness again be driven
As the weak and the base-born fires of earth
Are extinct by the light of Heaven.”